Glossary / Instruments
Lot size
Definition
The trade unit in forex: 100,000 units for a standard lot.
Why it matters
Mini lots are 10,000 and micro lots 1,000. Sizing in lots without converting to dollar risk is the classic forex mistake.
Example
Risking $250 with a 25 pip stop on EURUSD means 1 mini lot ($1 per pip) is the correct size, not a standard lot.
How to track it in a journal
TradeStack calculates the core performance numbers — win rate, average win and loss, profit factor, expectancy, drawdown and consistency — automatically from imported trades, so lot size stops being something you estimate and becomes something you read.
Related terms
Tick value
The dollar value of the smallest price increment of a contract.
Pip
The standard smallest price move in a currency pair, usually 0.0001.
Contract specifications
The exchange definition of a futures contract: size, tick, hours and expiry.
Micro futures contracts
Smaller versions of standard futures contracts, typically one tenth the size.
Questions that use this term
Keep reading
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Expectancy calculator
Expected profit per trade from your own numbers.
Broker CSV export guides
Step-by-step exports for Tradovate, NinjaTrader, IBKR and more.
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