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Minimum tick movement vs 1 contract value
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Minimum tick movement vs 1 contract value

  #1 (permalink)
Trading for Fun
Northern Ireland, UK
 
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Minimum tick movement vs 1 contract value

Hi all,

I'm experienced in the Forex spot market but am now just beginning my transition to the Futures Market. So I have a basic question that may help others like me who are at the start of their new journey.

In Forex things were simple, 1 pip move was the smallest move an instrument could make and I could workout my correct position size knowing the value of a Standard lot size.

The Futures market for me is not as straight forward, but will be, once I understand it better, hence my question. Fat-Tails helped me in a previous post where I had mistakenly though the FDAX moved in 1tick increments where in fact it moved in 0.5 ticks (so I though my 8 range bars were only showing 4 ticks movement).

So to my question; could someone please add the following info to the instruments listed below, I need to smallest tick movement and what that movement equals in $ per 1 lot.

For example:

ES-mini = 0.25 tick / $12.50 per tick
CL
TF
YM
DX
EMD
GC
NG

I realise this is elementary stuff but I need to start at the beginning and learn. Thanks for your patience with me

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  #2 (permalink)
Elite Member
Milan (I)
 
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gracepips View Post
Hi all,

I'm experienced in the Forex spot market but am now just beginning my transition to the Futures Market. So I have a basic question that may help others like me who are at the start of their new journey.

In Forex things were simple, 1 pip move was the smallest move an instrument could make and I could workout my correct position size knowing the value of a Standard lot size.

The Futures market for me is not as straight forward, but will be, once I understand it better, hence my question. Fat-Tails helped me in a previous post where I had mistakenly though the FDAX moved in 1tick increments where in fact it moved in 0.5 ticks (so I though my 8 range bars were only showing 4 ticks movement).

So to my question; could someone please add the following info to the instruments listed below, I need to smallest tick movement and what that movement equals in $ per 1 lot.

For example:

ES-mini = 0.25 tick / $12.50 per tick
CL
TF
YM
DX
EMD
GC
NG

I realise this is elementary stuff but I need to start at the beginning and learn. Thanks for your patience with me

Hi,

For CME try here http://www.interactivebrokers.com/en/trading/exchanges.php?sortproducts=IS&searc...lobex&ib_entity=llc#show and click on the instrument to get details.

For worlwide markets here http://www.interactivebrokers.com/en/p.php?f=exchanges

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  #3 (permalink)
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Fat Tails's Avatar
 
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Tick Value


Go to the source, which is the exchange

If you look for accurate information, you should always go to the source of that information.

The products for which you asked the tick size and tick value are traded at CME, NYMEX and ICE. So the best choice is to go the website of these exchanges, select the product you want to trade and have a look at the contract specifications.


Example

For example for CL, the contract specifications can be found here:

Light Sweet Crude Oil

What you need to know is this

-> Contract Unit: 1000 bbl (this is the multiplier)
-> Price Quotation: US Dollars and Cents per barrel
-> Minimum Fluctuation: $ 0.01 per barrel (this is your ticksize)

The tick value can be calculated as [B] tick value = tick size * multiplier[/B]

For CL you will get:

tick value = $ 0.01 * 1,000 = $ 10

I think it is easy to understand. It is $ 0.01 per barrel, but as you trade a size of 1,000 barrels this becomes $ 10.

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  #4 (permalink)
Fortitudo et Honor
Austin, TX
 
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Fat Tails View Post
Go to the source, which is the exchange

If you look for accurate information, you should always go to the source of that information.

The products for which you asked the tick size and tick value are traded at CME, NYMEX and ICE. So the best choice is to go the website of these exchanges, select the product you want to trade and have a look at the contract specifications.


Example

For example for CL, the contract specifications can be found here:

Light Sweet Crude Oil

What you need to know is this

-> Contract Unit: 1000 bbl (this is the multiplier)
-> Price Quotation: US Dollars and Cents per barrel
-> Minimum Fluctuation: $ 0.01 per barrel (this is your ticksize)

The tick value can be calculated as [B] tick value = tick size * multiplier[/B]

For CL you will get:

tick value = $ 0.01 * 1,000 = $ 10

I think it is easy to understand. It is $ 0.01 per barrel, but as you trade a size of 1,000 barrels this becomes $ 10.

Great post...very concise. This is exactly the type of code algo guys use to convert their strategies to other instruments with different increments.

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  #5 (permalink)
Trading for Fun
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Fat Tails View Post
Go to the source, which is the exchange

If you look for accurate information, you should always go to the source of that information.

The products for which you asked the tick size and tick value are traded at CME, NYMEX and ICE. So the best choice is to go the website of these exchanges, select the product you want to trade and have a look at the contract specifications.


Example

For example for CL, the contract specifications can be found here:

Light Sweet Crude Oil

What you need to know is this

-> Contract Unit: 1000 bbl (this is the multiplier)
-> Price Quotation: US Dollars and Cents per barrel
-> Minimum Fluctuation: $ 0.01 per barrel (this is your ticksize)

The tick value can be calculated as [B] tick value = tick size * multiplier[/B]

For CL you will get:

tick value = $ 0.01 * 1,000 = $ 10

I think it is easy to understand. It is $ 0.01 per barrel, but as you trade a size of 1,000 barrels this becomes $ 10.

Once again Fat Tails thank you! Do you think you could spend a week with me in the UK and I'll supply the tea and scones LOL. Seriously the help is appreciated...........

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  #6 (permalink)
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gracepips View Post
Once again Fat Tails thank you! Do you think you could spend a week with me in the UK and I'll supply the tea and scones LOL. Seriously the help is appreciated...........

Glad you mention tea and scones. It is one of my favorites.

Actually, I spent some time in Britain, and what I loved most was to prepare an English breakfast on a gas stove - not talking about Kellogg's flakes but fried eggs, bacon and tomatoes. I have never seen such gas stoves on the Continent. Do not know whether they still exist, they had a battery of open flames mounted on top, which made it very easy to broil all sorts of foods.

Otherwise, I mostly tried to avoid the dishes of the aborigines and heavily relied on Indian and Chinese restaurants

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  #7 (permalink)
Just starting out...
Houston, TX
 
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Platform: Ninja, MetaTrader
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ticks vs points

"ES-mini = 0.25 tick / $12.50 per tick"
I think that should be 0.25 of a point, a point being 1.00 in ES, like 1326.00 to 1327.00
and a tick is one-fourth of that.
1 point = $50.00,
1 tick - $12.50
... or maybe it's just semantics - someone care to correct me.?

ps: "FDAX moved in 1 tick increments where in fact it moved in 0.5 ticks (so I though my 8 range bars were only showing 4 ticks movement)."
DAX 1 point = 2 ticks, so 1 tick = 0.5 point.


Last edited by kenz987; April 3rd, 2011 at 04:50 PM. Reason: ps:
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  #8 (permalink)
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Pt Vala
 
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gracepips View Post
need to smallest tick movement and what that movement equals in $ per 1 lot.

This site is in german but you will easily get the meaning:

DeiFin - Futures-Kontrakte: Übersicht- Kontraktspezifikationen

(Tickwert means tick value)

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  #9 (permalink)
Trading for Fun
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uexkuell View Post
This site is in german but you will easily get the meaning:

DeiFin - Futures-Kontrakte: Übersicht- Kontraktspezifikationen

(Tickwert means tick value)

Thanks uexkuell, this is very helpful...........

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  #10 (permalink)
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to complete the hint -collection here :

the NinjaTrader - Instrument Manager (Tools > Instrument Manager )
also gives you an overview of tickvalues + more of your contracts :

you see how much 1 full point is worth in $$
and what value the smallest possible size (ticksize) is.

then you need some maths

max-td
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Minimum tick movement vs 1 contract value-instrument-manager2011-04-05_084118.png  

Last edited by max-td; April 5th, 2011 at 04:04 AM.
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