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Mes vs MNQ


Discussion in Emini and Emicro Index

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Mes vs MNQ

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  #1 (permalink)
 KOTN 
Honolulu Hawaii
 
Experience: Master
Platform: Ninja
Broker: Ninja Trader Brokerage
Trading: Nasdaq 100 Futures NQ & MNQ
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Learning one of the the micros to trade do you think one is significantly different than other? Iím using ninja trader price action with order flow mean reversion and continuation entries day trading only Ö any preference ? All answers welcome


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  #2 (permalink)
Filla Busted
Phoenix, Arizona
 
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One difference is the tick value: MES is $1.25 per tick; MNQ is $0.50 per tick. That means if you switch back and forth a lot (not recommended), you will need to remember to adjust your OCO order parameters if that's what you use.

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 syswizard 
Philadelphia PA
 
Experience: Advanced
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MNQ volume was 188% of the NQ volume on Friday.
MES volume was 62% of the ES volume on Friday.
I was unable to find month-to-date volume figures.

Of course you are aware of the fact that micro contract commissions run about 300-400% higher than the regular contracts for the same leverage.

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Feeber
Minneapolis, MN
 
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The MNQ has more volatility than the MES mostly due to its price. NQ is trading at 11,388 vs ES at 3,711
For every 1 tick of the ES will be around 4 ticks on the NQ. So even though the tick price is less on the NQ, the same move will be more in the NQ than the ES.

Example: Friday's end of day run up -
ES went from 3660 to 3700 for around 40 points,
NQ went from 11235 to 11385 for around 150 points.
MES 1 contract would have been 1.25x4x40= $200
MNQ .5*4*150=$300

Most discount brokers' total round turn cost of a Micro is around $1 vs $4 for a Mini, so closer to 250% more in commission if you are trading 10 micros vs 1 mini.
Yes, if you have the bankroll to play with the mini's sure, it's cheaper, but like myself I scale up to 3-4 micro contracts for my style of trading and I have nowhere near the bankroll to even play with 1 mini, let alone 3-4 mini so commission costs is a non-factor.

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 syswizard 
Philadelphia PA
 
Experience: Advanced
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Feeber View Post
Yes, if you have the bankroll to play with the mini's sure, it's cheaper, but like myself I scale up to 3-4 micro contracts for my style of trading and I have nowhere near the bankroll to even play with 1 mini, let alone 3-4 mini so commission costs is a non-factor.

Until you are trading 50-100 contracts per day....then it adds up.
Keep in mind, there are FCM's out there that only require 7-10% of the CME initial margin requirement if the trade is closed at the end of the day.

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Last Updated on September 26, 2022


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