Hi everyone.

I'm attempting to sort out some of the terms used between systems.

When setting a trade with MT4 software I'm asked for the volume of my commerce and in my commerce MT4 Trade Ledger, my position is stated in dimension which appears to by exactly the exact same as volume.

The help file for MT4 defines size and volume as lots. I've got a demo account with $10k in it and I'm using micro-lots (at least I feel that's true ), so 1 lot could be 1,000 exactly what... units of currency... so $1,000USD? And I have 10 lots in my $10k account? Am I getting that right?

And then in the Oanda FXGame I'm asked for components Once I put a trade. Is this components of the base currency (USD in the event of a commerce of this EUR/USD currency pair)?

What I'd love to have the ability to work out at the final analysis is the way to put an equivalent order on each system, so I'm attempting to determine how to translate between volume, size, lots, components, pips, and good old USD.

I know I'm gonna get this sorted out finally.

Thanks for any light you may shed on this.