Units?

Y

youngtrader

Sorry to start a thread about such a simple question but I am new to forex. How much is 1 unit worth? I thought there were just mini lots and standard lots but it sounds like you can customize your order to fit your account size better. Can you tell me what the common unit sizes are and how much they are worth?

Thanks Guys and Good Trading

YT
 
Quote from youngtrader:

Sorry to start a thread about such a simple question but I am new to forex. How much is 1 unit worth? I thought there were just mini lots and standard lots but it sounds like you can customize your order to fit your account size better. Can you tell me what the common unit sizes are and how much they are worth?

Thanks Guys and Good Trading

YT
More...

I am also new to trading but if you dont know the answer to that then youre in the wrong place to learn. Try reading some books, or better yet practice... I did both. I have been @ this for over a year now and getting better and better at it as time goes by. For example last night i placed an order with 10 SL woke up today $206 dollars richer :D
 
Quote from youngtrader:

Sorry to start a thread about such a simple question but I am new to forex. How much is 1 unit worth? I thought there were just mini lots and standard lots but it sounds like you can customize your order to fit your account size better. Can you tell me what the common unit sizes are and how much they are worth?

Thanks Guys and Good Trading

YT
More...
A unit is a generic term to describe the first currency in the quote of a pair. For example one unit of usdjpy is $1.00, 10K units of usdjpy is $10,000. One unit of eurusd is 1 euro. 10k units of eurusd is 10,000 euro. A standard lot is 100k units. A mini with most brokers is 10k units.
 
Quote from DRiSsT:

I am also new to trading but if you dont know the answer to that then youre in the wrong place to learn. Try reading some books, or better yet practice... I did both. I have been @ this for over a year now and getting better and better at it as time goes by. For example last night i placed an order with 10 SL woke up today $206 dollars richer :D
More...


DRiSst

206 bucks? No offense dude but if you think your king shit because you got lucky on a trade and made a little money then you obviously won't be in this business for long.......if there is one way to tell if somebody will have a short trading career it is when I see guys like you who brag about something as insignificant as that.

Now this isn't my first rodeo......I have been in this business for a lifetime considering my age. I am experienced in the futures markets but forex is new to me. All I wanted was an answer to a question that would be simple for an experienced forex trader.


YT
 
Quote from Option_Trader32:

A unit is a generic term to describe the first currency in the quote of a pair. For example one unit of usdjpy is $1.00, 10K units of usdjpy is $10,000. One unit of eurusd is 1 euro. 10k units of eurusd is 10,000 euro. A standard lot is 100k units. A mini with most brokers is 10k units.
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Thanks for the info......exactly what I was looking for.

Good Trading

YT
 
Quote from youngtrader:

DRiSst

206 bucks? No offense dude but if you think your king shit because you got lucky on a trade and made a little money then you obviously won't be in this business for long.......if there is one way to tell if somebody will have a short trading career it is when I see guys like you who brag about something as insignificant as that.

Now this isn't my first rodeo......I have been in this business for a lifetime considering my age. I am experienced in the futures markets but forex is new to me. All I wanted was an answer to a question that would be simple for an experienced forex trader.


YT
More...


Like i said im new at this, i know im no king shit, i never said i was and i thought that your question was stupid so i honestly thought you didnt know squat about forex since that what you learn when you learn the basics. So all i was trying to do is orient you cause like i said "I thought you didnt know squat about forex" Sorry mate!
CHEERS!:D
 
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