Forex & crypto
Lot
A lot is the unit that defines the size of a forex position; it determines how much each pip is worth.
A lot is the unit that defines the size of a forex position; it determines how much each pip is worth.
A standard lot is 100,000 units of the base currency, but traders often use mini or micro lots. The bigger the lot, the more each pip earns or costs: it is leverage on your risk.
With a micro lot, a pip is worth about $0.10; with a standard lot, about $10.
Understanding a term is good. Applying it on a real platform with a clear method is better. That is exactly what we do in 5 days.