"lot" in Forex trading

[PhoenixJ]

Lot is a unit of position size, like cm is a unit of length. Standard lot is 100000 units of base currency (the currency that comes first in a currency pairs), for gold, JPY commodities, indices bonds lot size consist of different amount of the asset, better to check contract specification offered by your broker.

Pretty solid answer lad.

 

[Paulina_wagner]

A "lot" in Forex trading is a standardized unit of measurement for trade size. There are three common types of lots:

1. Standard Lot: 100,000 units of the base currency.
2. Mini Lot: 10,000 units of the base currency.
3. Micro Lot: 1,000 units of the base currency.

Example: If you trade 1 standard lot of EUR/USD, you are trading 100,000 euros.

Hope this helps!