Futures Position Size Calculator (ES, NQ, CL, GC, Micros)
Futures position sizing is different from stocks because each contract represents a fixed dollar move per point. Enter your account size, risk per trade, stop distance in points, and the contract's dollar multiplier, we calculate how many contracts you can trade without exceeding your risk budget. Defaults to ES (E-mini S&P 500) at $50/point.
Results
Contracts to trade
1
Round down, never exceed your risk budget. If 0, the stop is too wide for your account at this multiplier.
Actual dollar risk
$250.00
Slightly less than max-risk because we floor contracts to whole numbers.
Max allowed risk
$250.00
Your account-size × risk%. Actual risk is below this.
Risk per contract
$250.00
Stop distance × multiplier. The exposure of one contract.
Position notional
$290,000.00
Entry × multiplier × contracts, the full contract value (NOT margin requirement).
Results update live as you change inputs. This calculator runs entirely in your browser — your numbers are never sent to a server.
Worked example (ES on a $25k account)
You have a $25,000 account, willing to risk 1% ($250) per trade, trading ES (E-mini S&P, $50/point) with a 5-point stop. Risk per contract = 5 × $50 = $250, which exactly matches your max risk. So you trade 1 contract. If you wanted to trade 2 contracts at this risk budget, you'd need either a 2.5-point stop OR a $50k account. This is why most beginner futures traders use the micros (MES at $5/point), same strategy at 1/10th the dollar risk per contract.
Frequently asked questions
What's a futures contract multiplier?
The contract multiplier is the dollar value of a 1.00 point move in the underlying. ES (E-mini S&P) = $50, meaning if ES moves from 5800 to 5801, one long contract makes $50. Multipliers are set by the exchange and never change for a given contract. Check the CME/NYMEX product specs page for any contract you trade.
Should I trade ES or MES as a beginner?
Start with MES (Micro E-mini S&P). It's the same product as ES but at 1/10th the contract size ($5/point vs $50/point). A 10-point stop on MES risks $50; on ES it risks $500. Beginners who jump straight to ES with under $25k typically blow up on a single bad day. MES lets you practice the strategy with manageable dollar amounts.
How much account do I need to trade futures?
Technically you can open a futures account with as little as $500-1,000 if you only trade micros and use day-trade margin. Realistically, for ES day-trading you want at least $10,000; for swing trading $25,000+. The PDT rule doesn't apply to futures (you can day-trade with any account size), which is part of their appeal vs stocks.
Does this calculator account for futures margin?
No, the calculator sizes by risk, not by margin. Margin (the deposit required to hold a contract) is set by your broker and varies: ES intraday margin is often $500-1,000, overnight $13,200. Always confirm you have enough excess margin to hold the position. Risk-based sizing is what keeps you in the game; margin-based sizing is what gets people blown up.
What's the difference between points and ticks?
A point is a 1.00 move in the underlying (ES from 5800 to 5801). A tick is the minimum price increment, which is smaller. ES ticks in 0.25 (so 1 point = 4 ticks, each tick = $12.50 on a full ES, $1.25 on MES). When this calculator says 'stop distance in points,' enter the points, we'll handle the math.
Can I use this for forex or options?
Not directly. Forex uses pip values and lot sizes (use our forex position size calculator). Options use contract premium and delta, much more complex sizing. This calculator is built specifically for futures with fixed point multipliers (equity index, energy, metals, treasuries, ag).