Lot sizes
1 standard lot = 100,000 units (~$10/pip on most USD pairs); 1 mini = 0.1 lot (~$1/pip); 1 micro = 0.01 lot (~$0.10/pip). Beginners should trade micro lots. Your lot size, combined with your stop distance, determines your dollar risk — never pick a lot size by "gut feel". Use the ShaFX position-size calculator.