Pips, Lots & Position Sizing

A pip is the standard unit of price movement in forex. For most pairs it's the fourth decimal place (0.0001); for JPY pairs it's the second decimal (0.01).

Lots

Trade size is measured in lots:

• Standard lot — 100,000 units
• Mini lot — 10,000 units
• Micro lot — 1,000 units

The bigger your position, the more each pip is worth. Use the Pip Value Calculator to see the value of a pip for your account currency and size.