Notional & Leverage
Notional = price × contract size × contracts. Leverage = total notional ÷ your account.
Pick a contract, plug in your account size and margin, and drag the slider. You’ll see how much notional you’re swinging, how much margin you’re locking up, and how much of your account gets torched if price moves.
Use the same price format your platform shows.
Index / metals / energies: 5300.00, 78.25, 2450.4 etc.
FX (6E, 6B, etc.): 1.1050, 0.7500, etc.
Grains / softs: dollars per unit (5.25 for ZC, 0.85 for ZL, 190.00 for KC, etc.).
Positive = move in your favor. Negative = against you. This is in price units, not ticks.
Fill out the inputs and move the slider.
Adjust the slider to see how much of your account this move puts at risk.
Notional = price × contract size × contracts. Leverage = total notional ÷ your account.
Margin used = margin/contract × contracts. Margin % tells you how much of your account is locked just to hold the position.
The key number is “P/L as % of account.” If a normal wiggle costs you 10–20% of the account, you’re not “trading” — you’re begging to blow up.