What is a difference between Contracts and lot size?

Jan 1, 2006
485
91
38
London
#2
A "contract" and a "lot" are the same things - they are used interchangeably.
The terms come from reference to futures contracts.

A trader might be long 3 lots - it's the same as saying the trader is long 3 contracts.

A "position" refers to someone's net exposure in an instrument and is generally always accompanied by the trade's directional bias, for example: 'I have a long position in EURUSD. My position comprises 3 contracts.'

Hope that helps.
 
Oct 30, 2017
20
2
13
#3
A "contract" and a "lot" are the same things - they are used interchangeably.
The terms come from reference to futures contracts.

A trader might be long 3 lots - it's the same as saying the trader is long 3 contracts.

A "position" refers to someone's net exposure in an instrument and is generally always accompanied by the trade's directional bias, for example: 'I have a long position in EURUSD. My position comprises 3 contracts.'

Hope that helps.
Yes, that really helps! You made it so easy for me thank You :)