The Key to Using Lot Properly

The world of trading which is increasingly in demand has a variety of terms that need to be learned to be able to use them properly. One term that is often and important to use is lot. Lot in forex trading means the number of currency units traded. There are several types of lots in forex, judging by their sizes, ranging from standard, mini and micro lots.

Lots in forex function to make it easier for traders to calculate the profit or loss of a transaction by multiplying the lot size with the smallest unit of transaction size. The smallest unit in forex trading is called pips. Forex sizes are divided into several categories, starting from standard lots with 100,000 units per lot, mini lots with 10,000 units per lot, to mini lots with 1000 units per lot. The size of the forex will affect the amount of profit generated from the difference in the pips movement.

The lot calculation itself refers to one of the components of the risk management system which is highly recommended for traders. Especially for traders who want to take a more balanced and structured approach to trading. In the forex market itself, positions can only be opened in a certain volume of trading units called lots.


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