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Guides

Plain-English answers, with the numbers worked out.

• How to calculate futures position size
  The futures position size formula in three steps, with worked ES, NQ, GC and CL examples, entry and stop prices, and when to switch to micro contracts.
• Futures tick values cheat sheet
  Tick size, tick value and point value for ES, MES, NQ, MNQ, YM, MYM, RTY, M2K, GC, MGC, CL, MCL, HG, 6E, 6B, BTC and ETH futures, in one table.
• Micro vs E-mini futures: which should you trade?
  The real difference between micro and E-mini futures (MES vs ES, MNQ vs NQ, MGC vs GC), how to convert between them, and when each one fits your risk.
• How much should you risk per trade?
  What the 1% rule means, why a fixed dollar risk per trade protects your account through losing streaks, and how to turn a percent into a position size.
• Position sizing for prop firm accounts
  How to size trades in a funded or evaluation account with a daily loss limit and trailing drawdown, with simple rules of thumb and a worked example.
• How to calculate Forex lot size
  Pip value per standard, mini and micro lot, the lot size formula, and worked EUR/USD and GBP/USD examples for a fixed dollar risk per trade.
• R multiples explained
  What 1R means, how to calculate the R multiple of a trade, why average R and expectancy beat win rate, and how to use R in a trading journal.
• How to keep a trading journal
  What to write down for every trade, a simple daily routine, and the five numbers to review each week to find your best setups and costliest mistakes.