Lot Size

The standardized number of units of an asset traded.

Detailed Definition

In forex trading, a standard lot is 100,000 units of currency. A mini lot is 10,000, a micro lot is 1,000, and a nano lot is 100 units. It defines the volume of a trade.

Related in Forex

Quote Currency

The second currency in a forex pair.

Dovish

An economic outlook favoring lower interest rates.

Hawkish

An economic outlook favoring higher interest rates.