PositionSizeTools

Futures Position Size Calculator

Convert account risk and a stop in ticks into a contract count, using the tick value for the instrument and per-contract fees.

Last reviewed

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Free · No sign-up · Runs in your browser

Futures sizing is the same division with a different unit. The stop is measured in ticks, each tick has a fixed dollar value defined by the contract specification, and the two multiply to give the risk on one contract. The risk budget divided by that figure is the contract count.

The complication is granularity. Contracts are whole numbers, and on a standard contract a single one can carry more risk than a small account should take - which is a real answer, not a rounding problem.

Your numbers

Results update as you type. Nothing is sent anywhere.

Result

Contracts

2

Risk budget
$400
Risk per contract
$155
Risk actually taken
$309
Unused budget
$91
Stop value per contract
$150
Total fees
$9

This tool is for informational and educational purposes only. It is not financial or investment advice, and past performance does not guarantee future results.

Tick value is contract specific. Take it from the exchange contract specification rather than assuming it.

Day-trade margin requirements can limit the number of contracts well below what the risk budget allows.

How to use the futures position size calculator

  1. Enter your account size and risk percentage.
  2. Enter the stop distance in ticks.
  3. Enter the tick value from the contract specification.
  4. Add per-contract fees, which matter more here than in most instruments.

What people use this for

  • Converting a chart stop in ticks into a contract count.
  • Checking whether an account is large enough for a full-size contract at your risk level.
  • Comparing full-size and micro contracts for the same trade.
  • Including per-contract fees in the risk budget rather than on top of it.

Worked examples

Every figure below is produced by running this calculator against the example inputs, so the numbers always match the tool.

A stop of twelve ticks

$40,000 account, 1% risk, 12 tick stop, $12.50 per tick, $4.50 fees.

Contracts
2
Risk per contract
$155
Risk actually taken
$309

A small account using a micro contract

$8,000 account, 1% risk, 20 tick stop, $1.25 per tick, $1.20 fees.

Contracts
3
Risk budget
$80
Risk per contract
$26

Tick value is set by the contract, not the broker

Each futures contract specifies a minimum price increment and what that increment is worth. Those figures are fixed by the exchange and are the reason futures sizing is unusually precise once you have them.

They also differ enormously between contracts, which is why the tick value must be entered rather than assumed. Using the wrong one produces a position size that is wrong by a large multiple.

The whole-contract problem

A stop that implies 0.6 contracts means the trade cannot be taken at that risk level. Rounding up to one contract raises the account risk - sometimes far above the intended percentage, on a small account.

Micro and mini contracts exist precisely for this. They carry a fraction of the tick value and allow small accounts to size correctly instead of choosing between too much risk and no trade.

Margin is not risk

The margin a broker requires to hold a futures position has no relationship to the risk on the trade. Day-trade margins in particular can be a small fraction of the contract value, which makes oversized positions easy to open.

The risk is the stop distance multiplied by the tick value multiplied by the contract count. That is the number this calculator sizes against.

Methodology and assumptions

What this calculator does, and what it deliberately does not do.

  • Results are arithmetic on the numbers you enter. Nothing here predicts prices or connects to an exchange, broker or market data feed.
  • Nothing you type is transmitted or stored - the calculation runs entirely inside your browser.

This tool is for informational and educational purposes only and does not constitute financial or investment advice. Past performance does not guarantee future results.

Nothing on this website is a recommendation to buy, sell or hold any security, currency, derivative or digital asset. No price is predicted and no return is promised or implied.

Trading and investing carry the risk of substantial loss, including the loss of your entire capital. Leveraged products can produce losses that exceed your deposit. Tax treatment depends on your jurisdiction and your circumstances.

Frequently asked questions

Where do I find the tick value?

In the contract specification published by the exchange. It is fixed for the contract and does not vary by broker.

Why did I get zero contracts?

Because one contract, at your stop distance, risks more than your budget. Either the account is too small for that contract at that risk level, or a micro contract is the right instrument.

Should I use day-trade margin to size?

No. Margin is a collateral requirement, not a risk measure. Sizing to margin is how accounts get into trouble in futures faster than in almost anything else.

Do fees really matter here?

On short stops, yes. A few dollars per contract per round trip is a meaningful share of a tight risk budget, which is why it is deducted from the budget rather than ignored.

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