Lot sizes are a crucial concept in forex trading, as they determine the volume of currency you're buying or selling. There are three main types of lot sizes: 1. Standard Lot (100,000 units): Ideal for experienced traders, as even small price movements can result in significant profits or losses. 2. Mini Lot (10,000 units): Suitable for intermediate traders, offering lower risk while still allowing for reasonable gains. 3. Micro Lot (1,000 units): Perfect for beginners, minimizing risk while learning how the market works. Choosing the right lot size depends on your account balance, risk tolerance, and trading strategy. Always manage your lot size to protect your capital and trade responsibly. #TradeSmartPH