Lot size in mt4

Beginner Questions
1

hi guys. i am confused about the lot size i am trading. i use mt4 and i trade 0.01 in volume at one time. which lot is this like we have standard, micro,mini,nano ? does this lot has name like above?

2
  1. Standard = 1.000 lot
  2. Micro = 0.100 lot
  3. Mini = 0.010 lot
  4. Nano = 0.001 lot

Important note, they are just marketing names used by bucket-shop brokers in a effort to get you trading.

2 Likes
3

well thats about it, and i would suggest sticking to that lot size and maybe lowering the leverage used till you get used to things, and best of luck

4

Hi Bob. Do those sizes also have other names? If yes - the marketing has really did the job! :smiley:

5

Hi Bob, when you say bucket shop brokers, are you referring to forex trading as a whole, or just certain brokers, like market makers for example? In effort to get us trading? Are you saying the whole forex is a scam for consumers (little fish) like us, or just at these bucket shop brokers?

I’m starting to see how i have the power to influence the market. But in the opposite direction!

Or do you mean “in an effort to get you trading” in a positive sense, as in just a naming scheme to make things easier to understand for the average joe.

6

I have seen, you already got your answer! As a new trader, you need to use small trading lots size, remember money management is very important parameter of success in Forex.

7

@eyedfondue
Probably. The thing you can guarantee but is that as soon as you read these words the broker is a bucket shop and I would be extra diligent before opening an account with them. They’ll be the ones on the other side of your trade (and that’s a big if as chances are they’ll just sit on it knowing the odds are in their favor).

8

@fishywishy

what I’m saying bro is there is a whole marketplace built on the fact new traders lose money. Be diligent

9

here is the main risk
Counterparty Risk
In dealings with a counterparty, there is innate risk that one of the people or entities involved will not fulfill their obligation. Examples of this include the risk that a vendor will not provide a good or service after the payment is processed or that a buyer will not pay an obligation if the goods are provided first. It can also include the risk that one party will back out of the deal prior to the transaction occurring but after an initial agreement is reached.

1 Like