MNQ futures: the Micro Nasdaq-100 contract, explained
MNQ gives you the Nasdaq-100's fast, tech-led chart in small steps. One point is $2, so even a busy morning can fit a small plan.
At a glance
| Item | MNQ (Micro E-mini Nasdaq-100) |
|---|---|
| What it is | A small futures contract on the Nasdaq-100, one tenth the size of NQ |
| Tick size | 0.25 index points |
| One tick is worth | $0.50 ($2 per full point) |
| Busiest hours (ET) | 9:30–11:00 am and 3:00–4:00 pm |
| What moves it most | Big tech earnings, bond yields, the Fed, CPI |
| Trading hours | Sunday 6 pm to Friday 5 pm ET, daily break 5–6 pm ET |
Check cmegroup.com for current specs.
MNQ and NQ: the 10-to-1 link
10 MNQ = 1 NQ. Same chart, same price, same candles.
- NQ: $20 a point, $5 a tick.
- MNQ: $2 a point, $0.50 a tick.
Why does this matter so much on the Nasdaq? Because NQ moves a lot of points. A normal-looking 40-point stop is $800 on NQ. On MNQ, the same stop is $80. That gap is often the difference between a size that fits a small plan and one that doesn't.
What moves it
MNQ moves exactly with NQ. The drivers:
- Big tech earnings, often after the 4:00 pm ET close.
- Long-term bond yields. Tech and growth stocks tend to be sensitive to rate moves.
- The Fed (FOMC at 2:00 pm ET) and inflation (CPI at 8:30 am ET).
- Themes like chip demand and AI spending that hit the whole group at once.
When it's busiest
The open at 9:30 am ET is the main event. The first hour usually has the biggest candles. Lunchtime is often slower. The last hour picks up again.
Overnight, MNQ is far thinner than NQ. Expect a wider gap between buy and sell prices at 2 am ET than at 10 am. The ET hours don't change with daylight saving, but Europe's open shifts in ET for a few weeks a year.
Its personality
- Fast. It inherits all of NQ's speed. Small size doesn't mean small moves.
- Tempting to over-trade. Cheap ticks make it easy to click again and again. That's a habit to watch, not a feature.
- Good for scaling up slowly. You can go from 1 contract to 2 to 3 as your plan allows, instead of jumping straight to NQ.
- Weekend gaps. The market shuts Friday 5 pm ET and reopens Sunday 6 pm ET. Weekend news can open it somewhere new.
- Expires quarterly: March, June, September, December.
Reading it with our method
- Bigger chart first. Mark the last places price turned around on the daily and 1-hour charts. Note the direction.
- Body close only. On your entry chart, a level counts as broken only when a candle body closes past it. MNQ's open is full of tails.
- Stop from the chart. Put it past the last turning point that proves your idea wrong.
- Size from the math. Example: stop 30 points away = 120 ticks × $0.50 = $60 per contract. Plan allows $120? That's 2 contracts. Check it with the futures tick value calculator. A math example, not a promise.
Our free StructureX tool marks the turning points on TradingView, phone app included. Add it here.
Common mistakes
- Taking ten trades because each one feels cheap. Fees and small losses add up. A daily stop helps: see how to stop overtrading.
- Using a tight ES-style stop. MNQ needs room for Nasdaq-sized swings.
- Sizing up to 10 MNQ "because it's micro". 10 MNQ is a full NQ in risk.
- Trading right into big tech earnings without knowing they're out that night.
Questions
How much is MNQ per point?
$2 per point. One tick (0.25 points) is $0.50.
Is MNQ the same as NQ?
It tracks the same index and moves point for point. It's one tenth the dollar size.
Why is MNQ popular with beginners?
The small tick value lets you size trades in small steps on a fast market. It still uses leverage, so losses are always possible and practice comes first.
Can I trade MNQ on my phone?
Many futures brokers have phone apps, and you can read the chart in the TradingView phone app. Check what your broker supports.
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