Trading & Markets
Point
One full unit of an index futures price, made of multiple ticks. An ES point is 4 ticks and worth $50 per contract.
In plain English
Traders quote index futures moves in points: ES rallied 20 points means $1,000 per contract. Since each product has its own point value (ES $50, NQ $20, YM $5, MES $5), the same point move means very different dollar risk across products.
Converting a trade plan from points to dollars against your drawdown is the core sizing habit prop rules force you to build.
- A 15 point NQ move is $300 per contract; the same 15 points on ES is $750 per contract.