How to Read 6N Price Quotes Without Getting Confused
6N futures quotes look simple, but most beginners still screw them up. The contract trades in four decimals, every tick is 0.0001, and every tick is worth exactly $10. If you can’t read the quotes correctly, you can’t size your risk correctly — and that’s how people blow accounts.
The Format of a 6N Quote
6N prints like this:
0.6041
No hidden fractions. No gimmicks. That number is the NZD/USD exchange rate.
Understanding the Tick
For 6N:
- Minimum tick: 0.0001
- Tick value: $10 per contract
If 6N moves from 0.6041 to 0.6047, that’s six ticks → $60 per contract. Traders who can’t read the decimal place get smoked fast.
Reading Bid/Ask Quotes Correctly
A typical quote looks like this:
| Side | Price |
|---|---|
| Bid | 0.6039 |
| Ask | 0.6040 |
Each side is one tick apart → $10 spread cost. That’s it. No variable spreads like spot FX brokers love to hit you with.
How to Calculate Dollar Movement
Use this simple formula:
Dollar move = ticks × $10
Examples:
- Move from 0.6000 → 0.6015 = 15 ticks = $150
- Move from 0.5972 → 0.5932 = 40 ticks = $400
- Move from 0.6100 → 0.6050 = 50 ticks = $500
If you trade prop and can’t do this instantly, you’re dead in the water.
Common Beginner Mistakes
- Thinking the second decimal is a pip (it’s not FX pips — different system)
- Forgetting every tick is always $10, no exceptions
- Counting price movement in pips instead of ticks
- Ignoring the bid/ask and assuming mid-price fills
The fastest way to fix this is to practice reading quotes on live DOM or T&S instead of staring at candles.
Final Take
Once you understand that a 6N quote is just the NZD/USD rate with a fixed tick size and fixed tick value, reading the price becomes effortless. If you haven’t already, go back and review the 6N contract specs before diving into volatility and session behavior.