Lot

A lot is the unit a trade is sized in, and one standard lot is 100,000 units of the base currency.

A standard lot is 1.00, a mini lot is 0.10 and a micro lot is 0.01. On currency pairs those are 100,000, 10,000 and 1,000 units.

Gold does not follow that pattern at every broker, and the same 0.10 can mean ten ounces at one broker and a tenth of an ounce at another. Check the contract size before sizing anything.

Also called: lot size, standard lot, mini lot, micro lot

A definition, not financial advice. Trading carries a risk of loss.