# What is Tick and tick value?

> Also called: Minimum tick, Tick size, Point value, Dollar per tick

**In short.** A tick is the smallest price increment of a futures contract, and the tick value is what one tick is worth in dollars for one contract: 0.25 points and $5.00 on NQ, 0.25 and $12.50 on ES, 0.25 and $0.50 on MNQ, $1.25 on MES. Risk per trade is stop in ticks × tick value × contracts.

Worked example: 40-tick stop on NQ with 2 contracts is 40 × $5 × 2 = $400 per full stop, before commissions. On MNQ, the same stop with 20 contracts is $400 as well; the micro simply divides the step. The position-size calculator on this site has the tick values of the usual contracts built in.

Tick values and tick sizes change rarely but do change (CME adjusted several). Always check the contract's specification page before trusting a number from memory.

- Guides on this term: [How many contracts to trade on a prop firm account](https://fillprint.io/en/journal/position-sizing-for-prop-firm-drawdown)
- Calculators: [Position size calculator for prop firm accounts](https://fillprint.io/en/tools/position-size)
- Read next: [Micro futures](https://fillprint.io/en/glossary/micro-futures)
- Read next: [E-mini futures](https://fillprint.io/en/glossary/e-mini-futures)
- Read next: [Daily loss limit](https://fillprint.io/en/glossary/daily-loss-limit)

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