Hi @jamall1989
Respectfully, you are asking the wrong question. We will still answer it, but we will also address the questions you should be asking and why.
Yes, with $250 in your account, you technically could trade one mini lot (10,000 units of base currency AKA 10k AKA 0.10 volume on MT4), which would allow you to risk $1 per pip. However, as @LaughingCharlie pointed out previously, you might not want to risk more than 1% of your account on any trade. See section 3 of this article to understand why: How much units cost
With $250 in your trading account, 1% would be $2.50 you could risk per trade. If you risked $1 per pip, then that trade size would only allow you to risk 2.5 pips. That’s not realistic, since your transaction costs (spread and/or commissions) would already take up around half of right when you open the trade.
It would be more realistic for your to risk 10 cents per pip by trading one micro lot (1000 currency units AKA 1k AKA 0.01 volume on MT4). Then the $2.50 you could risk per trade would equate to 25 pips.
The questions you should be asking are:
- How many pips does my trading strategy require me to risk? and,
- What trade size should I use so that number of pips equates to a percentage of my account I am willing to risk?
This other thread has more examples: How much units cost