ES vs MES Futures
Same chart. Same levels. Ten times the size… why we trade the micro, and when you have earned the upgrade.
Since 2018
Why trade MES instead of ES?
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The MES micro is one tenth the size of ES on the same chart with the same levels. That smaller size gives you finer control over risk, profit, and emotion… the number one factor in whether a new futures trader survives. House rule: no upgrade to ES until you can successfully trade 30 to 40 micros at a time.
ES and MES trade the exact same chart. Same S&P 500 futures, same levels, same moves. The difference is size… the ES E-mini pays $50 a point and the MES micro pays $5 a point. One ES equals ten MES.
So in the ES vs MES futures debate, which contract should you actually trade?
I am glad you asked.
The #1 Reason: Emotional Control
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MES gives you a FINER, MORE DETAILED control over your RISK and PROFIT THUS finer control over your EMOTIONS.
I can not express to you how important EMOTIONAL CONTROL is to the success of your trading.
The #1 reason you should trade MES is the EMOTIONAL control you get.
Firstly, there ARE portfolio sizes that can handle MULTIPLE ES contracts at once BUT can your EMOTIONS handle it?
If you can't trade MULTIPLE ES contracts, you need to be trading MULTIPLE MES contracts.
You want to trade a size that will not move your emotions TOO far. If you are a trader, you know what I mean. When you get emotional, you make mistakes because you can't think! Then you get really angry, tilt, and make really really bad decisions.
You see, it IS possible to blow up an account in ONE trade… even ONE candle. I HAVE seen a 100 point 3 minute candle. Crazy things DO happen.
I would rather see you have a string of base hits with MES… and then you get that 20+ point runner, and you have a monster day with SMALL RISK.
ES vs MES at a Glance
| ES (E-mini) | MES (Micro) | |
|---|---|---|
| Per point | $50 | $5 |
| Per tick (0.25) | $12.50 | $1.25 |
| Market exposure | ≈ $377,000 | ≈ $37,700 |
Same instrument. Ten times the size. That exposure line matters more than most traders realize… keep reading.
August 2026 update: CME just announced a third tier below the Micro… E-nano futures, one tenth the size of an MES contract, launched August 24, 2026. Same ladder, one more rung at the bottom. Full breakdown on our E-nano futures page.
One Micro Is Tons of Leverage
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Here is something else people don't understand about one micro… you are actually trading tons of leverage.
One MES contract is bigger than it feels.
Think of 1 MES as controlling ~50 shares of SPY (with SPY around $754):
x 50 shares
--------
$37,700 in market exposure — from ONE MES contract
Now stack a few on:
3 MES contracts ≈ $113,000 of exposure.
That's six figures of the S&P 500 moving under your account with three "micro" contracts on.
This is why we size down, define our stop first, and never add just because it's cheap to. The margin is small. The exposure is not.
Respect the risk, and it'll respect your account back. 🛡️
The House Rule: When Do You Upgrade to ES?
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At MicrosTrader we definitely recommend trading micros… and we do not recommend upgrading to the ES contract until you can successfully trade 30 to 40 micros at a time.
Micros can be mighty powerful… especially if you learn how to play perfect chess and hold a paid-for "lotto" runner.
It is why we are called MicrosTrader. Micros is what retail futures traders should be trading… especially beginning futures traders.
Start with one micro and build from there.
Let's do an example
Trader 1: Enters a trade with 1 ES. Price moves 2 quick points and you get out for $100 profit ($50 per point X 2 points). Nice trade.
Trader 2: Enters with HALF the risk with 5 contracts. Price moves a quick 2 points. This trader takes 2 contracts off (2 contracts. 2 points. $5 a point. = $20 profit). He keeps three contracts in the trade. Price then moves 10 points into the profit. He takes off 2 more contracts (2 contracts. 10 points. $5 a point = $100). The final contract runs 10 more points (1 contract. 10 points. $5 a point = $50).
Trader 2 has much less RISK, made way more money, had more options (peeling off contracts), stayed in the trade longer… AND could have EASILY added to their position!
How We Trade ES and MES Live Every Morning
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We have traded this market live on Zoom every single morning since 2018… 1,115+ live sessions and counting.
One Battle Plan, published the night before. Then we all trade it together the next morning. Everyone sees the same levels, the same scenarios, the same plan.
Want receipts? The Hall of Fame keeps the timestamped Battle Plan wins.
Every Tuesday the morning session streams free on YouTube, so you can watch how we trade the plan before you ever spend a dime. When you are ready to sit in the room with us, here is how to join the live Zoom room.
Want to practice first… free?
- ⚔️ Battle Plan Boot Camp: a free ES simulator loaded with real published Battle Plans. No signup.
- 🧭 Free Foundations Course: 13 lessons, no credit card.
Keep Learning
Frequently Asked Questions
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Should beginners trade ES or MES futures?
When should I upgrade from MES to ES?
What is the dollar difference between ES and MES?
How much market exposure is one MES contract?
What are the futures contract trading hours for ES and MES?
ES E-mini futures and MES micro futures trade nearly around the clock. The CME Globex sessionGlobex SessionThe electronic trading session that runs outside Regular Trading Hours. Basically, everything outside of 9:30 AM to 4:00 PM ET. Full entry → opens Sunday at 6:00 PM Eastern and runs through Friday at 5:00 PM Eastern, with a one-hour daily pause from 5:00 PM to 6:00 PM Eastern. That is roughly 23 hours a day, five days a week.
Inside that window sits the regular trading hours session, or RTHRTH (Regular Trading Hours)9:30 AM to 4:00 PM Eastern Time. This is when the big money is active. Higher volume, tighter spreads, more reliable price action. Full entry →, from 9:30 AM to 4:00 PM Eastern. RTH is when the cash stock market is open and volume is heaviest. Everything else is the overnight session. You can find the full breakdown on the futures trading hours page, including how overnight and RTH levels differ.
What is the best time to trade futures?
For most day traders, the best time to trade ES futures and MES is the first two hours after the 9:30 AM Eastern open. Volume is highest, moves are cleanest, and levels get tested with conviction. The last hour before the 4:00 PM close is the second most active window.
Should you trade all day? No. Midday volume dries up and price tends to chop. Many traders do better by working a short window and walking away. George covers this in only trade your best trading hours.
When do futures contracts expire?
ES and MES contracts expire quarterly, on the third Friday of March, June, September, and December. Contract codes follow the month: H for March, M for June, U for September, Z for December.
Most day traders never hold to expirationExpirationThe last day a contract trades before it settles. For ES/MES, this is the third Friday of March, June, September, and December. Full entry →. Instead you roll to the next contract during the week before expiry, once volume shifts to the new month. RolloverRolloverWhen you close your current contract month and open the next one. ES contracts expire quarterly. Most traders roll a week or two before expiration to maintain liquidity in the front month. Full entry → week is worth marking in your journal because liquidity splits between the two contracts and price action can get strange.
Can you short a futures contract?
Yes. Shorting a futures contract is as simple as going long. You sell to open, then buy to close. There is no borrowing, no locate, and no uptick rule like there is with stocks. That is one reason futures day tradingDay TradingOpening and closing all positions within the same trading day. No overnight risk. You start each day flat. This is where most ES/MES traders live. Full entry → appeals to traders who want to play both directions.
Simple to execute does not mean simple to win. The ES has a long bias over time, so shorts need their own rules. Read when to short ES futures before you sell anything.
What is a futures trader?
A futures trader buys and sells standardized contracts on an exchange like the CME, speculating on where an index, commodity, or currency will go next. A futures day trader opens and closes positions within the same session and holds nothing overnight.
Index futures traders focus on products like ES futures and MES, which track the S&P 500. They read levels, watch the tape, and manage risk in points and ticks rather than share prices.
What are the best futures for day trading?
ES and MES are the most popular futures for day trading in the United States for good reason. They have deep liquidity, tight spreads, and follow the S&P 500, which is the most watched index in the world.
MES is the micro version, worth one tenth of ES. Each point on MES is $5 instead of $50. That lets a newer trader learn the same charts and the same levels with a fraction of the risk. This page explains why the room trades the micro, and the best futures to trade page goes deeper.
How do you learn to trade futures?
Start with the basics: contract specs, trading hours, tick values, and margin. Then learn a repeatable day trading system built on levels, not predictions. Practice it in simulation, then with one MES contract, then scale.
The fastest path is watching someone execute live. George has recorded more than 1,000 live sessions in his futures trading room, and the Free Foundations Course is where new members start. Learn the rules first. Trade second.
- ✓13 free lessons
- ✓Take the Trader Test… are you cut out for this?
- ✓Risk rules, the ES/MES contract, Technical Analysis 101
- ✓Know where to go long
- ✓Know where to go short
- ✓Your daily ES trade plan drawn on your TradingView chart
