WHAT IS LOT

Lot size in Forex Trading:

In the past, spot forex was only traded in a certain amount called lot, or basically the number of currency units you would buy or sell.

The standard size is 100,000 units of currency and below are examples of lots and units in standard type accounts. This type of account is used at different brokers.

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So, how to calculate the actual value of each 1 pip for different currency pairs? Referring to the table above, when you trade on a standard account and buy 1 lot, this means you have bought 100,000 units of base currency. For example:

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After knowing the basics of pip and lot, how to calculate the amount of profit or loss? See the table below. For example, in each position you decide to close the gain is 20 pips.

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