Before you click
Forex session checklist
OTC FX is not a listed E-mini and not a crypto perp. Pips, lots, and a US leverage cap. Education only. Not a broker. Not a signal.
Object
Which pair, which lot?
EURUSD is not USDJPY. Standard, mini, and micro lots are different notionals. Name the pair and the lot unit before you compute pip value.
Clock
Sessions overlap.
Asia, London, New York. The overlap is usually the liquid clock. Friday close and Sunday open can gap. Do not treat FX like 24/7 crypto just because a dealer is open.
Risk cap
Lots from pip stops.
Dollar risk ÷ (stop pips × pip value) = lots. Then check notional against a US 50:1 (majors) / 20:1 (minors) ceiling. House rules can be tighter. If the lot is too big, use micros or skip.
Invalidation
A pip number, not a headline.
Write the stop in pips and in price. News spikes can slip. Size as if the fill is worse than the line on the chart.
No-trade
Sit on your hands.
Unknown dealer, no idea of the leverage cap, trading a cross you cannot quote, or martingale after a 30-pip loser. No-trade.
Lab
Open the calculator with the example already filled. Change the numbers. Then size your own ticket — or skip.
EURUSD micros — 20 pip stop Forex courses →Log fills already taken in the browser journal or the Windows journal. A screenshot is not a record.