Learn → Module 1 → Lesson 2
Module 1 — Forex Fundamentals
What are Pips & Lots in Forex Trading?
Key Takeaways
- ✓ A pip is the smallest price movement in a currency pair
- ✓ For most pairs 1 pip = 0.0001 movement in price
- ✓ A lot is the unit of measurement for trade size
- ✓ Standard lot = 100,000 units. Mini lot = 10,000. Micro lot = 1,000
- ✓ Pip value depends on lot size and the currency pair being traded
📖 Recommended Reading
Scaling Micro Accounts in Forex
by Armstrong Uzoagwa
The perfect companion to this course. The proven blueprint to grow a small forex account using smart leverage, discipline, and strategy.
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