If I have a micro account of $1000 and I want to risk 2% per trade ($20). I have a trade where I need to put my stop at 130 pips. So I divide 20/130= .15 per pip value or 15 cents a pip. Is this correct?
Thank you for your help
Hi Eroica
For anything related to position sizes when placing a trade, i advise using the BabyPips Position Size Calcualtor
It was really helpful to me, but position sizing becomes a lot easier to understand once you have done it a few times.
It can be found here: Position Size Calculator: Free Online Forex Position Sizing Calculator
Good Luck 
Yes, that’s right, and that will in turn determine your position size.