Sorry, I should have labeled things for you. This drawing does not show the 240V power connections, this is only the 24VDC control power. Please understand that the drawing above is not for a CNC machine, and everything is manually controlled. But it is a simple circuit showing the basics.
the ----| |---- is a Normally Open (NO) contactor or relay contact. The numbers are the relay terminal, or switch contact numbers. A Normally Closed (NC) contact would be ----|/|-----
The 2 and 7 are the terminal numbers for the relay coil. Depending on the relay these could be labeled A1 and A2, depending if it is an IEC (European standard) or American standard relay.
The switch contacts you circled are NO contacts for the E-stop push button, all that it does is turn on the red light in the push button to notify that operator that the E-stop button is pushed in. Saves confusion when the machine won't run. The E-stop button is a maintained contact, with twist to release. The top contact set is NC, and the bottom contact set (circled) is NO.
The Power On button is momentary contact, and would normally be labeled as such (MOM), but I'm lazy.
In your application the contactors may not require any auxiliary contacts, or you may use the NO contacts as a seal-in as I did above. There are few different way of setting thing up.
I like to power the drives up one at a time to limit the in-rush current. I do this under computer control with a 1 second delay between each drive, you may want to do it differently. I also require an output from the computer (controller) that is in the E-stop circuit to prevent powering up the drives until computer is happy. This also allows the computer to trigger an E-stop on a fault condition, but under no condition would you allow the computer to energize the control power. This must be done by the operator with a push button.
I buy almost exclusively from Automation Direct.
https://www.automationdirect.com/adc...20desc&start=0
I'm sure more questions will come up, I or someone else will try to help you through this.