LEVEL 1 · Futures & NinjaTrader Basics · LESSON 01
What Are Futures?
Start with contracts, expirations, and minimum price increments to learn the basic language used on futures charts.
LEARNING OBJECTIVE
Understand contracts, expiration months, Ticks, and Points so you can read chart prices accurately.
Video unavailable? Read the written guide
Video language: Chinese. The guide below is an independently researched written lesson, not a transcript.
IN ONE SENTENCE
Futures contracts have standardized specifications. Start with contract terms, Ticks, and Points before reading a chart.
Basic concepts
ContractExplainClose
A standardized agreement that defines the underlying, month, and minimum price change.
TickExplainClose
The smallest permitted quote increment, which varies by instrument.
PointExplainClose
A one-point price change; check the contract specifications for its Tick count.
Software walkthrough
Menu placement may vary by platform version. Use the current official guide when a label differs.
- 01
Step 01
Check the contract specification and note Tick Size and Tick Value.
Check: Confirm the displayed settings match the selected inputs.
- 02
Step 02
Find adjacent chart prices and convert the interval into Ticks.
Check: Confirm the displayed settings match the selected inputs.
- 03
Step 03
Keep price units separate from dollar value in your notes.
Check: Confirm the displayed settings match the selected inputs.
Concept diagram
Study scenario
If a teaching example moves 100.00→100.25 and assumes a 0.25 Tick Size, that is one Tick. It is not a live quote.
Unit examples are not live market data or a contract recommendation.
Common mistakes
Issue: Treating one Tick as one Point.
Check the input, version, session, data, or setting that controls this behavior.
Issue: Treating a price change as a dollar amount.
Check the input, version, session, data, or setting that controls this behavior.
Lesson summary
- 01
A Tick is the smallest increment.
- 02
A Point is a one-point price change.
- 03
Dollar value also needs Tick Value and quantity.
PRACTICE EXERCISE
Look up a study contract's Tick Size and calculate an eight-Tick change on a static chart. Do not submit an order.
Use static, historical, or browser-local sample data only.
OFFICIAL REFERENCES
Checked against public documentation
This lesson paraphrases official material. Check the installed version for current interface details.
Education note
Software and market education only. No direction signals, live order instructions, or performance claims.
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