What’s the difference between micro and mini contracts?

Micros (MES, MNQ, MCL) are 1/10th the size of E-minis. Same ticker, less risk. Use micros to learn.

Can I trade futures overnight?

Yes. ES/NQ trade nearly 24/5. But watch for gaps at 6 PM CT (new session). GC and CL have overnight risk from global events.

Is Topstep legit for beginners?

Yes—if you treat it like a job. Their rules force discipline. Many beginners pass and get funded.

Do I need Level 2 or DOM data?

For scalping? Yes. For swing trading? Helpful, but not critical. DOM shows order flow. It’s the edge.

What’s the best time to trade crude oil?

10:30 AM ET (EIA report), open (9:00 AM), and close (2:30 PM). News = volatility.

How do rollover dates affect futures?

Contracts expire quarterly (March, June, Sept, Dec). Volume shifts to the next contract weeks before. Always check your platform’s rollover date.

How much do I need to start trading ES/NQ/GC/CL?

Micros: $1,000–$2,000 minimum (but $5k+ is safer) E-minis: $10k+ recommended Prop firms: $100–$300 for evaluation

Futures Trading: How to Start Trading Futures Today

Futures Trading:

Imagine you're a farmer. You know rain is coming. Not because you checked the app but because you’ve studied the clouds, wind patterns, and soil moisture for years. Now, instead of just planting, you bet on the weather with someone who needs dry skies for their harvest festival. You lock in a price today. If it rains, you win. If it doesn’t, you pay up.

That’s futures trading - only swap rain for the S&P 500, crude oil, or gold. And instead of crops, you’re trading contracts that move with the pulse of the global economy.

Welcome to the big leagues.

You’ve traded stocks. Maybe even dipped into crypto. But futures? That’s where the real price action lives. Where volatility isn’t a bug - it’s the feature. Where ES, NQ, GC, and CL aren’t ticker symbols -they’re battlegrounds.

Let’s break down the most traded futures contracts, how they work, where to trade them, and how to survive (and maybe even thrive) without blowing up your account in the first week.

The Big Four (Plus Two): Meet the Contracts That Move Markets

These aren’t just popular - they’re dominant. Institutional flows, hedge funds, prop shops, and day traders all orbit around these six:

Symbol	Name	What It Tracks
ES	E-mini S&P 500	S&P 500 Index (broad U.S. market)
NQ	E-mini Nasdaq-100	Tech-heavy Nasdaq 100
GC	Gold Futures	Spot price of gold (per troy ounce)
CL	Crude Oil (WTI)	U.S. benchmark oil price
NG	Natural Gas	Henry Hub natural gas
ZB	30-Year Treasury Bond	U.S. long-term interest rates

Let’s unpack each.

ES (E-mini S&P 500)

Tick size: 0.25 index points

Point value: $12.50 per tick ($50 per full point)

Contract size: 50x S&P 500 index

Typical daily range: 30–60 points (≈ $1,500–$3,000 per contract)

Margin (approx): $1,500 initial / $1,100 maintenance

Why traders love it: Liquidity. Speed. Clean trends. Open 23.5 hours/day.

The ES is the king of day trading. It moves on Fed news, CPI, jobs reports, and even Elon’s tweets. If the market’s open, ES is dancing.

NQ (E-mini Nasdaq-100)

Tick size: 0.25

Point value: $5 per tick ($20 per point)

Contract size: 20x Nasdaq-100 index

Daily range: Often 80–150 points (can gap hard on earnings)

Margin: ~$2,000 initial

Volatility profile: Higher than ES. Tech = drama.

When NVDA earnings drop and the market gaps up 3%, it’s the NQ leading the charge. More explosive, less forgiving. Great for momentum traders. Brutal for the overleveraged.

🪙 GC (Gold Futures)

Tick size: $0.10 per troy ounce

Point value: $10 per tick ($100 per dollar move)

Contract size: 100 troy ounces

Daily range: $20–$50 (sometimes $100+ on Fed days)

Margin: ~$7,000–$9,000

Moves on: Inflation, dollar strength, geopolitical risk

Gold isn’t just shiny—it’s a fear gauge. When banks fail or wars flare, GC spikes. But it can also sit in a coma for weeks. Patience required.

⛽CL (Crude Oil - WTI)

Tick size: $0.01 per barrel

Point value: $10 per tick ($100 per dollar)

Contract size: 1,000 barrels

Daily range: $2–$5 (can swing $10+ on inventory shocks)

Margin: ~$6,000–$8,000

Key driver: EIA inventory reports (Wednesdays at 10:30 AM ET)

Oil is news-driven. One sentence from Saudi Arabia can torch your position. But it also trends hard. CL loves to run—up or down.

NG (Natural Gas) – The Wildcard

Tick: $0.001 (1/10th of a cent)

Value: $10 per full cent move

Daily range: Can be $0.50 or $2.00—wild

Margin: ~$4,000–$6,000

Why it’s nuts: Weather-driven, storage reports, and low liquidity outside peak hours

NG is the “tilt meter.” One cold snap = 20% move. But it’s also where accounts go to die. Trade small. Or don’t trade it.

ZB (30-Year Treasury Bond)

Priced in 32nds (e.g., 122-16 = 122 + 16/32)

Tick value: $31.25

Moves on: Interest rate expectations, CPI, Fed speeches

Margin: ~$10,000+

ZB is for macro traders. When the Fed pivots, bonds scream. But it’s slower, less liquid. More “chess” than “MMA.”

Micro vs. E-mini vs. Full-Size: Know Your Ammo

You don’t need to trade full contracts. Most retail traders use micro or E-mini versions:

Index	Full Size	E-mini	Micro	Micro Value per Point
S&P 500	SP	ES	MES	$5
Nasdaq-100	ND	NQ	MNQ	$2
Gold	GC	GC	MGC	$1
Crude Oil	CL	CL	MCL	$1

Micro contracts (MES, MNQ, MCL, MGC): 1/10th the size of E-mini

Example: 1 MES = $5 per point. 1 ES = $50 per point.

Why this matters: With micros, you can trade ES with ~$150 margin. That’s accessible. But don’t get cocky—10 micros = 1 full E-mini. Leverage cuts both ways.

Where to Trade: Brokers, Prop Firms, and Simulators

🔧 Retail Brokers (Direct Access)

These brokers offer direct market access (DMA) with competitive commissions:

Robinhood – Now supports futures trading via a dedicated account. Offers access to major contracts (E-mini S&P, Nasdaq, crude oil), cash-settled. New Robinhood Legend platform adds advanced charting and technical tools for active traders2.

NinjaTrader – Free platform, low fees, supports Rithmic or CQG data. Great for beginners.

Tradovate – Web-based, clean UI. $10 flat fee per round turn or commission-free with subscription.

AMP Futures – Reliable, strong support. Integrates with TradingView, Sierra Chart, and more.

Charles Schwab (ThinkorSwim) – Powerful platform (TOS), now includes TD Ameritrade. ~$2.25 per side.

EdgeClear – Low-cost, supports Sierra Chart, MotiveWave, and others.

Stage 5 Trading – Ideal for algo traders. Supports Quantower, Bookmap.

Interactive Brokers (IBKR) – Low commissions, global access. Platform can be complex.

Webull – Zero commissions, sleek mobile-first platform. Strong charting, limited futures support.

Typical Costs:

Commissions: $2–$8 per round turn (varies by broker & volume)

Data Fees: $50–$100/month for Level 2 (CQG/Rithmic)

🏆 Prop Firms

These aren’t brokers—they’re funded trader programs. You pass a challenge, then trade their capital.

These firms focus exclusively or primarily on futures contracts like ES, NQ, CL, GC, etc. Most offer access to platforms like NinjaTrader, Tradovate, R|Trader, and TradingView.

✅ Top Picks

Apex Trader Funding – One-step evaluation, generous rules, up to 90% profit split. Supports NinjaTrader, Rithmic.

Topstep – Long-established, strong community. “Trading Combine” with payout tiers. Supports NinjaTrader, TradingView, Quantower.

Earn2Trade – Gauntlet Mini challenge. Includes education. Supports NinjaTrader, Finamark, R|Trader.

Take Profit Trader (TPT) – Simple rules, fast funding. Supports NinjaTrader, Rithmic.

Leeloo Trading – Flexible evaluations, fast scaling. Supports NinjaTrader, Rithmic.

MyFundedFutures – Low-cost, futures-only focus. Supports NinjaTrader, Rithmic.

TradeDay – 1-step challenge, clean UI. Supports TradeDayX, Tradovate, NinjaTrader, TradingView.

Funded Futures Network – Futures-only, no reset fees. Supports NinjaTrader.

UProfit – Fast payouts, futures-focused. Supports NinjaTrader, Rithmic.

Bulenox – Aggressive scaling, futures-only. Supports NinjaTrader, Rithmic.

BluSky – No activation fee, futures-only. Supports NinjaTrader.

Legends Trading – Futures-focused, clean challenge structure.

DayTraders.com – Futures-only, higher upfront cost but solid support.

💰 Typical Costs

Evaluation Fees: $50–$300 depending on account size

Profit Splits: 80–100%

Platforms: NinjaTrader, Tradovate, R|Trader, TradingView

Data Feeds: Rithmic or CQG (usually included or discounted)

Feature	Topstep	Apex Trader Funding
Account Size	$50k	$50k or $100k
Profit Target	10% over two months	8% over two phases
Max Drawdown	$1,500 (trailing)	$2,500–$5,000
Evaluation Cost	$100 + $125/month	$100–$300 one-time
Overnight Holds	Limited in early stages	Allowed after phase 1
Split	Up to 90%	Up to 90%

Why use them? You trade with their money. Profits split 80/20 or 90/10. Lower risk. But you must follow their rules.

Sim Accounts: Your Training Wheels

NinjaTrader, Tradovate, and Sierra Chart all offer free sim accounts.

Use them for at least 30 days.

Trade like it’s real—same position size, same discipline.

No sim trader ever blew up a real account. But plenty of real traders wish they’d simmed longer.

How to Trade These Contracts: Strategies That (Sometimes) Work

Futures aren’t “set and forget.” They demand attention. Here’s how pros approach them.

🔹 Scalping (ES/NQ)

Goal: 2–5 points per trade

Timeframe: Seconds to minutes

Tools: DOM, footprint charts, time & sales

Example: Fade the first 5-minute reversal after the open

Risk: High frequency = high stress. One bad trade can wipe out 10 winners.

🔹 Swing Trading (GC, CL, ZB)

Hold: Hours to days

Strategy: Trade breakouts after CPI or FOMC

Example: Buy GC on breakout above $2,050 after weak jobs report

Risk: Overnight gaps. Always use stops.

🔹 News Plays (All)

Trade the CPI, NFP, or EIA reports

Wait for the initial spike, then fade or ride the momentum

Use limit orders—market orders during news = tax to the HFTs

🔹 Breakout Trading (NQ, CL)

Identify key support/resistance

Enter on volume surge

Stop below breakout level

Risk Management

Futures are leverage on steroids. One contract of ES can swing $2,000 in a day. Here’s how to survive:

Stop-loss every trade. No exceptions.

Position size: Never risk more than 1–2% of account per trade.

Daily loss limit: Stop trading if you lose 3% in a day.

Use micros when learning. 1 MES is $5/point. 1 ES is $50. Big difference.

Avoid overtrading. ES moves 200 points a day? Doesn’t mean you need 20 trades.

Real-World Tips from the Trenches

ES & NQ are day trader crack. Liquid, fast, responsive. But they’ll punish hesitation.

GC & CL need patience. They don’t move every minute. Wait for the catalyst.

Beginner mistake #1: Trading 5 ES contracts with a $5k account. That’s not trading—it’s Russian roulette.

Rollover dates matter. Every quarter, contracts expire. Roll to the next month before volume drops.

Sim first. Paper trade for a month. Then trade micros. Then consider going live.

DOM and footprint charts are non-negotiable for scalping. They show who’s buying, not just price.

Pre-market (8–9:30 AM ET) is gold. See where institutions are stacking orders.

Final Word: Futures Aren’t for Everyone. But They’re for You If You’re Ready.

Futures trading isn’t about getting rich quick. It’s about mastering leverage, reading the tape, and respecting the market’s power.

You don’t need a finance degree. You need discipline, a plan, and the guts to cut losses fast.

Start small. Trade micros. Sim first. Learn DOM. Respect the margin call.

Because in the world of ES, NQ, GC, and CL—the market doesn’t care how smart you are.
It only cares if you’re still in the game tomorrow.

Now go watch the tape. And remember: the best traders aren’t the ones who predict the future.
They’re the ones who survive long enough to profit from it.