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The Mechanics of Contract SpecsContract Size and Tick SizeTrading futures is not like buying stocks. You are not purchasing a single share. You are entering into a standardized agreement to buy or sell a specific quantity at a future date. This quantity is the contract size. For example, Gold futures represent 100 troy ounces while WTI Crude Oil represents 1,000 barrels. Understanding this is critical because it dictates your capital efficiency. If you trade Gold, a move of $1 is a $100 swing per contract. This is the tick size. Ignoring the tick size leads to miscalculating your risk per...