Lot

Lot - The standardized trading size in forex. A standard lot in forex is 100,000 units of the base currency of the pair. There are also mini lots (0.1 standard lot = 10,000 units), micro lots (0.01 lot = 1,000 units), and nano lots (0.001 lot = 100 units) for smaller trade sizes. In backtesting a forex robot, trade volumes are often specified in lots. For example, a robot might trade 0.10 lots (a mini lot) for each signal. Understanding lot sizes is important for interpreting how much currency is being bought or sold in the backtest trades.