I would think again using those chinese ER type collets, they dont grip, take an eternity to change cutters over, even longer to change size. Lose around 30 to 38mm height as well.
If you must choose ER types go for a decent brand name.


Why does no one use finger collets MT tapered collets, essentially the same as R8 types. Can change cutter over in 8 secs and they grip.
Also lose less spindle to table height, practically nothing sticking out.
MT2&3 are good from http://www.arceurotrade.co.uk/Catalo...llets---METRIC just get the one with same thread as your draw bar. You will never look back!
To ondo, spanner loosen 1/4 of a turn, tap with hammer cutter drops out, insert new cutter, tighten draw bar up, job done- simples.