Sorry for what may sound like a silly question but i needed some help in understanding position sizing. I used the babypips calculator (AC = GBP > AB = 10,000 > RP = 2% > SL = 50 pips > CP = GBP / USD > ASK = 1.2055) which came back with
Amount at risk = 200 GBP > Position size (units) 48,220, Standard lots = 0.4822 > Mini lots = 4.822 > Micro lots = 48.22
The question i have is, if i put on a position with 200GB then what scenario / benefit would buying 0.4822 standard lots give me vs buying 48.22 micro lots??? i.e. when would somebody purchase SL vs Micro for example and what is the pros n cons?