So I tried using the babypips position size calculator and i’m not sure what i’m doing wrong.
I have $898.00 in my demo account and I used a 6 pip stop loss.
Whats with the crazy position size? When I went to execute my trade in Oanda it said I only hade 898 units available.
6 pip stop loss is very very tight. Be careful.
I’m trying a scalping strategy 
I see. Actually the calculator is correct.
1 lot = 100,000
0.1 lot = 10,000
and so on…
I get the same calculation with EURUSD 
The position size here is nothing to do with your account balance of USD 898.
It is just the nominal value of the number of lots you are taking. One standard lot is a nominal 100,000 units and you are taking a trade with 0.146747 standard lots = 1.4675 mini lots= 14.6747 micro lots, which equals units14674.67 of a standard nominal lot of 100,000 units.
You do not actually physically buy or sell anything. You are only taking a view of the direction of the exchange rate. Your profit or loss is only affected by the number of pips the exchange rate moves and the number of lots that you have (which determines the value per pip).
The impact on your account is the initial margin requirement according to your level of leverage and a real time adjustment according to the changing exchange rate.
