Futures trader bootcamp

Futures contracts obligate you to buy or sell an asset at a predetermined price and date. They're available on indices (ES, NQ), commodities (CL, GC), currencies, and interest rates.

Futures use margin efficiently: a single E-mini S&P 500 (ES) contract controls $250 × the index level — well over $500,000 in notional exposure with an initial margin of roughly $15,000.

Unlike equities, futures trade nearly 24 hours a day. Overnight gaps can move against open positions significantly, so position sizing and stop placement must account for off-hours risk.