Question
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Is "lots" an important part to consider?
1 Answer
<p id="isPasted">In order to trade forex effectively, you need to understand lots. </p><p>A forex lot is a unit of measurement. Buying one lot equals buying one unit of a currency.</p><p>There are four types of forex lots: standard, mini, micro, and nano.</p><p>Based on the lot size and the number of lots you buy or sell, you determine your position size.</p><p>The value of a lot is determined by an exchange or other market regulator, which ensures that everyone trades the same amount and knows how much they are trading when they open a position.</p>
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