Lot size, contract size, max position ?

Hello

Now this is a real beginner question but here goes

Am I right in thinking

1 standard lots = control of 100000 of a pairs base currency.
2 mini lots = control of 20000 of a pairs base currency
3 micro lots = control of 3000 of a pairs base currency
4 nano lots = control of 400 of a pairs base currency

if thats correct then great

so if the above is correct

then 0.01 lots on a standard account should control only 1000 of the base currancy.
so if I only want to have a maximum position of 20000 that would mean I could have 20 positions open at 0.01

Any feed back would be great

Thanks

Kiwi

Yes, you are right about the sizes.