How many futures contracts can I trade without risking more than a set dollar amount?
Enter Your Numbers
Your Position Size
Enter your risk amount, stop distance, and point value and click Calculate to see the maximum contracts that keep you inside your risk limit.
How this is calculated
Dollar risk per contract equals your stop distance in points multiplied by the contract's point value.
Max contracts equals your maximum dollar risk divided by the dollar risk per contract, rounded down to a whole contract.
Point value is fixed by the exchange for each contract and is not something you choose. A wrong point value makes every other number in this calculator wrong, so confirm it before you trade.
Commonly cited point values, as reference only and always subject to change or confirmation with your broker: E-mini S&P 500 (ES) around $50 per point, Micro E-mini S&P 500 (MES) around $5 per point, E-mini Nasdaq-100 (NQ) around $20 per point. Micro contracts generally use a fraction of their full-size counterpart's point value.
This calculator does not account for margin requirements, overnight margin, exchange fees, or commissions, only the dollar risk defined by your stop.
Futures are leveraged instruments. A small point move can produce a large dollar swing relative to the margin required to hold the position, so confirm your true dollar risk before sizing up.
Risk & liability disclaimer: This calculator applies simple point-value arithmetic to the numbers you enter. It is not financial advice and does not guarantee any trading outcome. Futures trading involves substantial risk of loss, including the potential to lose more than your initial margin, and is not suitable for all investors. Point values and contract specifications are set by the relevant exchange and can change; Trading Habits is not affiliated with any exchange, clearing firm, or broker. Verify current contract specifications and margin requirements with your own broker before placing any trade.
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