Lot
a.k.a. Lot size, Position size
A standard bundle size for a trade. Forex comes in standard (100,000), mini (10,000), micro (1,000) and nano (100) unit lots.
Currencies are traded in bundles called lots. The size of your lot decides how much each pip is worth, which decides how hard every move hits your account.
A standard lot is 100,000 units of the base currency. A mini lot is 10,000, a micro lot is 1,000 and a nano lot is 100. Most platforms let you trade in steps like 0.01 lots.
Choosing the lot size is the moment you decide your risk. Pick it from how much you can afford to lose, not from how much you would like to win.
Lot sizes on EUR/USD
- Standard (1.00) = 100,000 units ≈ $10 a pip.
- Mini (0.10) = 10,000 units ≈ $1 a pip.
- Micro (0.01) = 1,000 units ≈ $0.10 a pip.
Bottom line: A 30-pip move is $300, $30 or $3 depending on the lot.
Clicking "1.00 lot" because it looks like a nice round number, without realising that is 100,000 units and about $10 a pip.
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