0.01 lot size in forex or micro lot is position size in trading. Position size of 0.01 lot for EURUSD currency pair, for every 10 pips gain will give a $1 profit (10 cents per pip).So for EURUSD means that 10 pips for 0.01 lot size profit is $1.
0.01 lot size or 1000 units or micro lot is the smallest position size when we talk about standard forex accounts.
The standard lot size is 1 lot and it is equal 100 000 units or $10 per each pip gain.
Below you can see Table of 3 types of position sizes:
Types of lot size:
Standard Lot
Mini-Lot
Micro-Lot
Please see Figure below:
Trader since 2007. Currently work for several prop trading companies.
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