Futures
Futures Tick Value Explained: ES, NQ and the Micros
By MarketsBench · Published · 1 min read
Draft outline — the full guide is being written.
Tick value is the dollar amount one minimum price increment (one tick) is worth per futures contract — tick size × the contract multiplier.
Tick size vs tick value
Draft to cover: the difference and the formula tick value = tick size × multiplier; ES example (0.25 × $50 = $12.50).
ES and NQ side by side
Draft to cover: ES $12.50/tick, NQ $5/tick, why NQ's larger daily range matters more than the smaller tick.
The micros: MES, MNQ, MCL, MGC
Draft to cover: one-tenth multipliers, same tick sizes; sizing precision for small accounts; link to /futures/mes, /futures/mnq spec pages.
Turning a stop distance into dollars
Draft to cover: ticks = points ÷ tick size; risk = ticks × tick value × contracts; worked example.