About ES
ES is the most traded equity-index futures contract in the world. Each point is worth $50 per contract and it moves in 0.25-point ticks ($12.50).
Most volume at the 09:30 New York cash open and around 08:30 data releases; the Globex overnight session is quieter.
How to size a ES position
Position size = risk in dollars ÷ (stop distance × value per unit). Example on a $100,000 account risking 1% ($1,000) with a 4 points stop: 5 contracts, which risks about $1,000.
The order panel has a built-in risk calculator: enter your % risk and your stop loss and it sizes the position for you.
Which challenge to trade ES?
Futures challenge: one evaluation with a 6% target, a trailing drawdown and a maximum number of contracts.
ES trading hours
CME Globex: Sunday 23:00 to Friday 22:00 UTC, with a daily maintenance break 22:00–23:00 UTC.