Basically FuturesUnderstand it
Before evaluating a trade, check the exchange's multiplier, minimum price fluctuation, tick value, trading hours, listed months, expiration, and settlement method. Symbol names and broker labels are shortcuts, not substitutes for current specifications. The same number of index points can represent vastly different dollars across contracts. Specifications can change, so verify against the official product page.
ES represents $50 per S&P 500 index point; MES represents $5 per point. A 4-point move is $200 per ES contract or $20 per MES contract, before costs. Their minimum tick is 0.25 point.
Watch for this misconception
Thinking two charts with similar shapes imply the same exposure. Position size is determined by the contract multiplier, not chart appearance.
Find the official tick size and point value for one futures contract and calculate a hypothetical 6-point move.
Position-size calculator ↗What defines the dollar effect of a price move in a futures contract?
Check the sources
Hypothetical educational examples. Verify current product specifications and rules before making decisions.