MNQ and NQ track the same thing, the Nasdaq-100 index, and move tick for tick together. The only real difference is size. MNQ is one-tenth of NQ, and that changes how much every move costs you.
MNQ vs NQ at a glance
| Micro (MNQ) | E-mini (NQ) | |
|---|---|---|
| Tracks | Nasdaq-100 | Nasdaq-100 |
| Tick size | 0.25 points | 0.25 points |
| Tick value | $0.50 | $5.00 |
| Point value | $2 | $20 |
| A 50-point move costs | $100 | $1,000 |
| Size | 1/10 of NQ | 10 × MNQ |
How to calculate P&L
MNQ P&L = points × $2 × contracts
NQ P&L = points × $20 × contracts
Example: a 30-point stop on 3 MNQ risks 30 × $2 × 3 = $180. The same stop on 1 NQ risks $600.
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Try VOLERON free for 7 daysWhen MNQ makes more sense
- Smaller accounts or tight prop limits. With a $2,000 loss limit, one NQ contract with a 50-point stop risks half your room in a single trade.
- Precise sizing. Need to risk $300 with a 40-point stop? That's 3.75 MNQ, so 3 contracts. With NQ, your only choices are $800 or nothing.
- Scaling out. With 4 MNQ you can take partial profits in steps. With 1 NQ you can't.
- Learning a new setup. Keep the cost of mistakes low while you build a sample in your journal.
When NQ makes more sense
- Larger accounts where you'd otherwise need 10+ micros.
- Fees. Commission is charged per contract, and 10 MNQ usually cost more in total fees than 1 NQ for the same exposure.
- Contract caps. Some prop firms cap contracts by count, and count micros differently. Check your firm's scaling rules.
The real question: what's your risk per trade?
Choose the contract that lets you risk your planned amount exactly, not the one that feels exciting. Work out your dollar risk first, divide by the cost of your stop per contract, and round down. If the answer is less than one NQ, you trade MNQ. Full method: how much to risk per trade.