regular lot value | Forex Factory

Options

Permalinks
Print Thread

Similar Threads

Fixed Lot Size vs Fixed Value 10 replies

Reliable Broker with nano lot, micro lot broker, leverage 1:400, 1:500 35 replies

Buying 1 lot GBPUSD: Is it 1 lot GBP or USD? 5 replies

BUY run profit 1 lot, SELL LIMIT 2 LOT down again n BUY 1 lot - EA Reqd 5 replies

Finding the value of 1 pip per 1 lot of a pair 2 replies

regular lot value

  • #1
  • First Post: Nov 17, 2010 8:52pm Nov 17, 2010 8:52pm
Hello folks,

Just now it feels like a year ago when I did not know anything about Forex...

Until today I was sure that a regular lot means 100,000 of the base currency, Mini 10,000 and Micro 1,000.

I'm looking at a broker (Dukascopy) ant they state that 0.1 lots are equal to 100,000 (see below).
Quote
Default order amount can be set (in millions). Minimum trade size is 0.10 lots, which means 100,000.00 units of the primary currency.
I'd really appreciate your input... Am a little confused here.

Thanks.
MikeFT
  • #2
  • Nov 17, 2010 9:01pm Nov 17, 2010 9:01pm
100,000 = 1 standard lot
10,000 = 1 mini lot

Just for clarrification

But I woulda thought when displayed in decimal format like that .1 of a standard lot would = 1 mini lot i.e 10,000 not 100,000

Thats how it is on my MT4 demo account anyway, my live broker just displays the full lot sizes.

?
Time hides Nothing
  • #3
  • Nov 17, 2010 9:13pm Nov 17, 2010 9:13pm
Yeah, that's what I thought.
So for some reason they either have ma mistake and it should say 10,000 or their standard lot for whatever reason is 1,000,000. It's ECN if this makes a difference...
  • #4
  • Nov 17, 2010 9:47pm Nov 17, 2010 9:47pm
Quoting MikeFT
Hello folks,

Just now it feels like a year ago when I did not know anything about Forex...

Until today I was sure that a regular lot means 100,000 of the base currency, Mini 10,000 and Micro 1,000.

I'm looking at a broker (Dukascopy) ant they state that 0.1 lots are equal to 100,000 (see below).
I'd really appreciate your input... Am a little confused here.

Thanks.
MikeFT
I believe there pricing format is just different looking.
Know when to hold em, Know when to fold em!
  • #5
  • Nov 18, 2010 6:44am Nov 18, 2010 6:44am
Hi Mike,

Noticed this myself with Dukascopy. Looks like the default amount is MILLION therefore 0.1 is 100,000 as opposed to 0.1 of a standard lot of 100,000 which would be 10,000. I think the default amount can be changed when setting up account. Pretty sure you can trade 0.1 of standard lot as minimum ie 10,000. Then beyond this amount fractional lots may be traded. Hope this helps.

Stu





Quoting MikeFT
Hello folks,

Just now it feels like a year ago when I did not know anything about Forex...

Until today I was sure that a regular lot means 100,000 of the base currency, Mini 10,000 and Micro 1,000.

I'm looking at a broker (Dukascopy) ant they state that 0.1 lots are equal to 100,000 (see below).
I'd really appreciate your input... Am a little confused here.

Thanks.
MikeFT
Once You See, You Can't Unsee But You Will Get The Odd Poke In The Eye
  • #6
  • Nov 18, 2010 2:33pm Nov 18, 2010 2:33pm
Quoting MikeFT
I'd really appreciate your input... Am a little confused here.
Right, Dukascopy counts in millions. Anyway, the term "lot" does not refer to any particular number of ccy units; I've seen "lots" of 10K-1000K of ccy units. So.. to avoid confusion, always state the number of ccy units, e.g. 100K, 10K etc. Because a thousand is a thousand and always will be a thousand; "Lot" otoh doesn't mean sh*t.
  • #7
  • Nov 24, 2010 8:58am Nov 24, 2010 8:58am
Thank you guys. This really helps.
  • #8
  • Last Post: Nov 24, 2010 9:01am Nov 24, 2010 9:01am
Remember folks, there's lots, and then there's lots of lots.
0 traders viewing now