NQ tracks the Nasdaq-100, a tech-heavy index. Each contract is $20 x the index, ticks in 0.25 points ($5), and typically moves more points per day than es. The micro version, MNQ, is $2 x the index.
Its speed attracts scalpers and punishes wide stops. Many traders learn on MNQ before moving up.
Example: NQ at 18,000 has a notional of $360,000. A 100-point swing is $2,000 per contract, or $200 on MNQ.
Related: es, micro-futures, tick-value, index