Cryptocurrency Q&A
Is 0.01 a micro lot?
Is 0.01 a micro lot?
Andrea
Mon Dec 16 2024
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5 answers
1524
I am trading forex and I am trying to understand the trading volumes. I have heard about micro lots and I am wondering if 0.01 is considered a micro lot. Could someone clarify this for me?
5 answers
Giuseppe
Wed Dec 18 2024
A micro lot, which is equivalent to a 0.01 lot size, signifies a contract that involves 1,000 units of the base currency.
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Daniele
Wed Dec 18 2024
In the context of forex trading, a pip represents the smallest incremental change in the value of a currency pair.
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Tommaso
Tue Dec 17 2024
When trading with a micro lot, for every 1 pip movement in the price, your potential profit or loss will be calculated accordingly.
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Maria
Tue Dec 17 2024
Specifically, this means that a 1 pip movement will result in a $0.10 profit or loss.
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GwanghwamunPride
Tue Dec 17 2024
This calculation is derived by multiplying the pip value by the lot size and then by the value per pip, which is typically $11.
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