Contracts and the clock
Read the exact product, contract month and time zone. Similar names do not make different contracts interchangeable.
FUTURES TRADING, EXPLAINEDSame price move.
Same price move.
Different dollar stakes.
A chart tells only part of the story. Learn the contract behind it: the price step, value per point, order mechanics and risk that make futures different from owning shares.
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One point is not one dollar.
For these outright futures contracts, the tick is a quarter of an index point. The dollar value is different.
| Contract | Dollars / point | Tick size | Dollars / tick |
|---|---|---|---|
| MES · Micro E-mini S&P 500 | $5 | 0.25 points | $1.25 |
| NQ · E-mini Nasdaq-100 | $20 | 0.25 points | $5 |
A hypothetical two-point adverse move on one MES is $10 before costs. The same point distance on one NQ is $40 before costs. Add fees and use actual entry and exit fills for the realized result. A planned stop does not guarantee the exit price.
Specifications checked September 26, 2026: CME Micro E-mini specifications and CME NQ specifications. Verify current exchange and broker terms.
Understand the mechanics before increasing the complexity.
Margin is not a loss cap
A deposit requirement does not describe the full loss you could incur. Keep product exposure, planned loss and account rules separate.
An exit is an execution
Learn stop triggers, actual fills, partial quantities and unused orders. The plan and the confirmed state can differ.
STRAIGHT ANSWERS
Before you choose a course.
Is NQ the same as buying Nasdaq shares?
No. NQ is an index futures contract with its own specifications and settlement. Do not transfer share-based dollar calculations to it.
Does the course cover commodity futures too?
The academy introduces futures and commodity contract concepts. Each product has distinct specifications; the MES and NQ arithmetic here cannot be copied unchanged to gold, oil or other contracts.
Is this connected to a broker?
The academy’s supplied simulations are teaching tools. They do not send real orders to an exchange or broker.
SEE IT BEFORE YOU CHOOSE ITLess scrolling for answers.
Less scrolling for answers.
A path that connects them.
Explore the course modules, try a sample exercise and see how the foundations connect to advanced study.
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FIND YOUR STARTING POINTBig ambition.
Big ambition.
A clear first step.
Explore the foundations, map out two weeks of study, or see how futures, risk and strategy connect.