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FOREX BASICS
✓ FOREX HISTORY ✓ FOREX TRADING CONCEPT ✓ TYPE OF ORDERS
✓ CONTRACT SIZE ✓ MARGIN AND LEVERAGE ✓ ROLLOVER
✓ FOREX GLOSSARY

CONTRACT SIZE

A contract size is the quantity of currency being bought and sold. In the world of retail Forex, there are usually two types of contract size.

Standard Mini
100,000 Base Currency Units 10,000 Base Currency Units

How It Works

For example: EUR/USD is trading at 1.2000/1.2003. When it says "buying or selling 1 standard lot (contract) of this currency pair". You are buying or selling 100,000 units of Euro against the US dollar. If you choose buy, it will cost you 100,000 Euro x 1.2003 US dollar/Euro = USD 120,030. Wow...that's a lot! Don't worry! Forex dealers will allow you to use margin or apply leverage to reduce this money used to place this position. If you choose 100:1 leverage or 1% of the required amount, the cost of doing that trade is now USD 120,030 / 100 = USD 1,200.30. BIG DIFFERENCE. To learn more about margin and leverage, please click here.

Flexible Contracts

Flexible contracts mean a trader can defines his/her own trade amount without being limited to the specific contract sizes that are set by Forex dealers. With flexible contracts, you can trade 1 currency unit, 5 currency units or any amount of your choice.

Futures Contract Sizes

Unlike spot Forex, futures are traded on exchanges. Futures trading occurs on a CFTC designated contract market with trading facilities. The following table lists some of the most commonly traded commodity futures and their contract sizes.

Commodity Contract Size
Grains and Oilseeds Wheat 5,000 bu
Corn 5,000 bu
Soybeans 5,000 bu
Soybean meal 100 tons
Soybean oil 60,000 lb
Livestock and Meat Cattle (feeder) 50,000 lb
Cattle (live) 40,000 lb
Hogs (lean) 40,000 lb
Pork bellies 40,000 lb
Food and Fiber Cocoa 100 metric tons
Coffee 37,500 lb
Sugar 112,000 lb
Cotton 50,000 lb
Orange Juice 15,000 lb
Metals and Petroleum Copper 25,000 lb
Gold 100 troy oz
Silver 5,000 troy oz
Crude oil (light sweet) 100 bbl
Heating oil 42,000 gal
Gasoline 42,000 lb
Interest Rates Treaury bonds $100,000
Treasury bills $1,000,000

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NEWS FROM OUR MEMBERS

ECONOMIC CALENDARS
DATE TIME COUNTRY EVENT FORECAST PREVIOUS
10-17-10 5:45pm NZD CPI q/q 1.0% 0.2%
10-18-10 9:00am USD TIC Long-Term Purchases 47.5B 61.2B
8:30pm AUD Monetary Policy Meeting Minutes
10-19-10 5:00am EUR German ZEW Economic Sentiment -7.0 -4.3
8:30am USD Building Permits 0.58M 0.57M
9:00am CAD BOC Rate Statement
9:00am CAD Overnight Rate 1.00% 1.00%
2:50pm GBP BOE Gov King Speaks
7:00pm NZD RBNZ Gov Bollard Speaks
10-20-10 4:30am GBP MPC Meeting Minutes 1-0-8 1-0-8
4:30am GBP Public Sector Net Borrowing 14.2B 15.3B
10:30am CAD BOC Monetary Policy Report
11:15am CAD BOC Press Conference
10:00pm CNY CPI y/y 3.6% 3.5%
10:00pm CNY GDP q/y 9.5% 10.3%
10-21-10 4:30am GBP Retail Sales m/m 0.4% -0.5%
5:15am GBP MPC Member Posen Speaks
8:30am USD Unemployment Claims 455K 462K
10:00am USD Philly Fed Manufacturing Index 0.5 -0.7
10-22-10 4:00am EUR German Ifo Business Climate 106.5 106.8
7:00am CAD Core CPI m/m 0.3% 0.1%
8:30am CAD Core Retail Sales m/m 0.5% -0.4%
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