The maximum number of contracts refers to the largest allowed position, represented as an absolute value, that you can hold at any given time. Your account size determines the number of contracts you can trade.
For example, if your maximum number of contracts is 8, you can simultaneously trade 4 contracts on the NG and another 4 contracts on the E-Mini S&P 500. It is important to note that exceeding the maximum number of contracts allowed for your account may lead to violations of risk management protocols and potentially result in significant losses.