This article will tell you everything you need to know about trading Micros and Minis on the TopstepX platform.
TopstepX™ allows traders to trade the maximum equivalent contract values of Micros and Minis. (10:1 contract ratio). Maximum position sizes are now synced according to the total leveraged amount, allowing 10x Micro to Minis contracts.
The Micro to Mini ratio functionality is available for the Trading Combine and Express Funded Account. It is not currently available for the Live Funded Account.
Please note: Micro Silver, Micro Bitcoin, and Micro Ether are weighted differently. Click here for more information on these products.
How it works:
If traders are allowed to trade a maximum of 5 mini contracts, they can trade up to 50 micros.
1 mini contract = 10 micros
In a 50K account, you can trade up to 50 micros ( For example, 4 ES and 10 MES)
In a 100K account, you can trade up to 100 micros (For example, 9 ES and 10 MES)
In a 150K account, you can trade up to 150 micros (For example, 14 ES and 10 MES)
Why does this benefit traders?
Traders can use micros to have more control over risk, strategy, and capital.
The small position size allows traders to trade with more precision and the flexibility to scale in and out of positions with less exposure.
Traders have more control over their risk with the ability to take smaller entry sizes and overall smaller position sizes. This can be extremely beneficial in fast-moving markets because traders can take advantage of those larger moves with much less risk.
Trading micros can open up more trade opportunities and strategies for traders to take advantage of.
Why are some Micros weighted differently?
Three (3) Micros products are weighted differently than other Micros.
Micro Silver equals two (2) of any other Micro and has a 5:1 ratio. For example, 5 Micro Silver contracts would be the same as 10 Micro Gold contracts (MGC).
Micro Bitcoin and Micro Ether will have the same lot sizes as our Mini products. Even though they have 'Micros' in the name, they will be capped at 5, 10, and 15 lots rather than 50, 100, and 150.
Items to note:
If you are allowed to trade a maximum of 5 mini contracts, you can trade up to 50 micros, or a combination of micros and minis that are equal to or less than the maximum leverage amount.
It is up to you to know the amount of lots that you are trading. If you are in multiple products it is easy to overleverage
We recommend keeping an eye on the Positions tab in TopstepX so that you can see exactly how many lots you currently have open.
With larger trades come larger fees. There are no commission fees in TopstepX, but clearing fees still apply. Micros are normally higher than minis (for instance on NQ is $2.80 round turn where MNQ is $0.74) 10 micro NQs would be $7.40 round turn instead of $2.80.
Different ways to enter trades
You can trade like normal in TopstepX (from the DOM, Chart, or Order Book)
There currently is no way to adjust the maximum lot size above a preset of 15. If you want to put in an order of more than 15, you can do it in one of three ways:
1) Use the preset numbers in the Order Book or DOM
If you want to trade lots that are closest to our highest pre-set number of 15 lots, you can click the 15 button, then click the plus sign “+” to get to your desired number of contracts.
2) Manually add to the Order Book
Click on “# of Contracts” and enter the exact number of lots you want to trade
3) Place the order directly on the chart
Find your desired entry price, right-click, and choose Stop Sell or Limit Buy
Return to the identical spot on the chart and repeat the process! When you input two orders at the same spot and price, they merge to fulfill the desired lot quantity. For example, if you want to trade 30 lots, pick 15 initially, and then 15 again at the same spot and price on the chart.
If you have pre-setup brackets, when the order is filled, it will place the brackets as a 30-lot order rather than a 15-lot order.