Forex pairs trade in 1000, 10,000 and 100,000 units, called micro, mini and standard lots. When starting out in forex day trading it's recommended traders open a micro lot account. Trading micro lots allow for more flexibility so risk remains below 1% of the account on each trade. When the USD is listed second in the pair, as in the EUR/USD or AUD/USD, the value of the pip is fixed. If you hold a 1000 micro lot, each pip movement is worth $0.10. If you hold a 10,000 mini lot then each pip is worth $1.
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Originally posted by Dustin View PostForex pairs trade in 1000, 10,000 and 100,000 units, called micro, mini and standard lots. When starting out in forex day trading it's recommended traders open a micro lot account. Trading micro lots allow for more flexibility so risk remains below 1% of the account on each trade. When the USD is listed second in the pair, as in the EUR/USD or AUD/USD, the value of the pip is fixed. If you hold a 1000 micro lot, each pip movement is worth $0.10. If you hold a 10,000 mini lot then each pip is worth $1.
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Originally posted by Dustin View PostForex pairs trade in 1000, 10,000 and 100,000 units, called micro, mini and standard lots. When starting out in forex day trading it's recommended traders open a micro lot account. Trading micro lots allow for more flexibility so risk remains below 1% of the account on each trade. When the USD is listed second in the pair, as in the EUR/USD or AUD/USD, the value of the pip is fixed. If you hold a 1000 micro lot, each pip movement is worth $0.10. If you hold a 10,000 mini lot then each pip is worth $1.
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It seems to me that without any serious macro-data being published today, the EURUSD will most likely retain its position give or take 50 – 60 pips. That is to say that the pair should stay within the confines of the double top (1.2480 – 1.2520) and its corresponding low point (1.2350 – 1.2390).Last edited by Josesv; 16-02-18, 05:24.
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