The best lot size for a forex trade will depend on several factors, including the size of your account, the level of risk you are comfortable with, and the size of the position you want to take.
Given that you have $10, it’s important to keep in mind that forex trading can be a high-risk investment, and it’s important to trade within your means. With such a small account balance, it might be more suitable to trade with a micro lot size, which is equivalent to 1,000 units of the base currency in a trade.
To calculate the micro lot size for a trade, you would need to determine the stop-loss distance and the amount of risk you are willing to take. For example, if you are willing to risk $0.10 per trade and you set your stop-loss 10 pips away from the market price, then your lot size would be 0.01 lot ($0.10 ÷ 10 pips).
It’s important to note that even when trading with a micro lot size, you can still potentially incur substantial losses, and it’s important to thoroughly understand the risks involved in forex trading before making any investment decisions. Additionally, it’s always a good idea to seek advice from a financial advisor or to start with a demo account to practice your trading strategies before trading with real money.