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I'm so new this probably doesn't answer your question totally.
I trade a $5K account, and I'm comfortable holding 4 MEScontracts at a time. I buy in 1 contract at a time, that way I can judge the move, I will either: 1. take the loss on 1 contract 2. average in (up or down) until I get 4 contracts.
Probably not the smartest way to trade, but in Stocks this has served me very well.
I assume this is asked from the perspective of a new trader in futures. If you're new to futures, I see this question as simply one of risk, and of risk control and limitation.
Hence, the answer I suggest is simply: one. No matter the contract, and no matter your account size, just one.
I would add, if there is a micro contract -- as in the MNQ, which you mentioned -- trade the micro contract, not the full-sized one, and still just one. Especially for the MNQ. (You will find out why soon enough . )
Why? Because futures trading will tear your head off if you aren't used to the leverage and the speed of gains and losses. I would also add, use sufficient margin and have some definite rule or plan about how large a loss you will accept before closing a trade. These are all up to you, but be conservative of your cash and don't let a small loss get big.
There are strategies that can involve multiple contracts, and that may include scaling in (adding contracts) or scaling out (closing parts of a position) based on how the trade works out. If you are new, and if you are asking this question, these may be too tricky. First, be consistently profitable buying low and selling high (or vice-versa), keeping things as simple and as low-risk as possible.
If/when you get more experienced at it, you can increase your size. There is absolutely no hurry to do so.
Keeping your size small is a safety feature in something that is an inherently unsafe activity. To help increase your longevity, you will need to do whatever you can to keep the risk reasonably within your control. Limiting your size will help.
Bob.
When one door closes, another opens.
-- Cervantes, Don Quixote
I completely agree with @bobwest's answer.
Trading live should be limited to minimal size (a single contract, or 2 if your strategy calls for partial profit) for quite a while.
Only after demonstrating STABILITY AND CONSISTENCY over time, should you slowly increase your size.
Set a rule for yourself. For example - once 3 months have passed trading a 1-lot, every time you've won 6 of 8 weeks in a row you can raise by one.
You should also have a rule for cutting back - for example: 2 losing weeks in a row I cut back one, and only raise back after winning 2 weeks in a row.
. )