Automated MNQ trading in NinjaTrader 8.
Sovren runs the same rules-based opening range breakout on MNQ as it does on NQ, at one tenth of the dollar size per contract. This page covers what MNQ is, how Sovren trades it, and what changes when you choose micros.
What is MNQ?
MNQ is the CME Group Micro E-mini Nasdaq-100 futures contract. It is $2 × the Nasdaq-100 Index with a minimum tick of 0.25 index points, so one tick is $0.50 per contract. The E-mini Nasdaq-100 (NQ) is $20 × the same index, so one NQ point is $20 and one MNQ point is $2. Both contracts track the same index and move by the same number of points. See the CME Micro E-mini Nasdaq-100 contract specs and E-mini Nasdaq-100 contract specs.
How does Sovren trade MNQ?
The rules are the same on both contracts. Only the instrument setting changes.
- Opening range. The high and low of the first five 1-minute bars from 9:30 to 9:35 AM ET.
- Entry window. Signals are accepted from 9:35 to 11:00 AM ET. Many sessions produce no qualifying bar, and on those days Sovren does not trade.
- Execution. A limit order at the signal bar’s close with a fixed profit target, placed through your own NinjaTrader connection.
- Protective exit. Sovren closes the trade at market if price moves a set distance against it. This exit is managed by the strategy, so NinjaTrader must stay running and connected while a trade is open.
- Daily limits. 2 trades per session by default (adjustable from 1 to 3), and one losing trade ends the day.
- News days. Sovren sits out scheduled high-impact news sessions by default.
The full walkthrough is on how the opening range breakout works in NinjaTrader 8.
MNQ or NQ: what changes?
- Dollar size. Every point is worth $2 per MNQ contract instead of $20 per NQ contract, so profits and losses per contract are one tenth of NQ’s.
- Contracts. Sovren lets you run 1 to 10 contracts per account. Ten MNQ contracts carry about the same point value as one NQ contract.
- Costs. Commissions and fees are charged per contract, so costs as a share of each trade can be higher on micros. Check your broker’s or prop firm’s fee schedule.
- Chart. Run Sovren on a 1-minute MNQ chart on the default CME US Index Futures ETH trading hours.
Can I run MNQ on a prop firm account?
Sovren is built for end-of-day (EOD) drawdown accounts, where the drawdown limit only moves at the close. We don’t recommend intraday trailing drawdown accounts. Prop firms set their own rules on automated strategies, and some do not allow them, so check your firm’s current rules before you enable Sovren on a funded or evaluation account.
What do you need to run Sovren on MNQ?
- NinjaTrader 8 with a data feed and a connected broker or prop firm account that allows automated strategies.
- A 1-minute MNQ chart, with Sovren enabled before 9:30 AM ET.
- A computer or VPS that stays on and connected through the New York session.
Risk disclosure
The live results on the results page are from 2 NQ contracts, not MNQ. Results on MNQ will differ in dollar terms and may differ in fills and costs. Past performance is not indicative of future results. Futures trading involves substantial risk of loss and is not suitable for every investor. Sovren is software, not investment advice. Read the full disclosures.
NQ vs MNQ in numbers
Both contracts track the Nasdaq-100 and move by the same number of points. What differs is the dollar value of each move:
- A 10-point move is $200 per NQ contract and $20 per MNQ contract.
- A 25-point move is $500 per NQ contract and $50 per MNQ contract.
- One tick (0.25 points) is $5.00 on NQ and $0.50 on MNQ.
These are contract-math examples only, not Sovren targets, stops or results.
Who should start on MNQ?
MNQ suits traders who want the same rules at a smaller dollar size: smaller accounts, newer prop evaluations, or anyone who wants to watch Sovren on a live connection for a few weeks before sizing up. Because Sovren lets you set 1 to 10 contracts per account, you can step up in single MNQ contracts rather than jumping straight to a full NQ.
Licensing and price
The license is the same for NQ and MNQ: $79.99 a month or $699 a year, and each license runs on up to 2 devices, for example a home PC and a VPS. There is no free trial; new members can use code FIRST25 for a first month at $59.99. Sovren runs on a live or sim connection during the New York session. Version 2.7 and later also run in NinjaTrader’s Strategy Analyzer for backtesting; it does not run with the Playback connection.