1)pls what is a reasonable margin requirement for a $1000 account in a micro account?
Depending on the leverage your broker allows for, your margin requirement on a $1000 trade will be anywhere from $2.50 (400:1) to $20 (50:1).
2)How much leverage should i use for a micro account of this($1000) amount?
You really shouldn’t be thinking of leverage so much as your risk. Allow your risk level for a given trade to dictate the amount of leverage you use. Most position traders don’t really go beyond 50:1. Short-term traders will often apply higher degrees of leverage.
3)What is the value of 1 pip in a $1000 micro account?
Depends on the currency pair you trade. For pairs where the USD is not the base currency (EUR/USD, GBP/USD, etc) it would be $0.10. For USD base pairs and for crosses it depends on the price.
4)I want to trade only 2% of my account daily, how do i adjust my margin or leverage inorder to fulfill that in a $1000 micro account?
Do you mean you only want to apply 2% of your account to margin, or you want to risk 2% on a trade.