As a Forex trader, your natural desire is to reduce risks as much as possible. Inevitably, you develop risk management strategies to combat the side-effects of risky trades. In doing so, Forex traders must pay close attention to the size of their lots. Forex strategists assert that the smaller the lot size is, the better, consequently boosting flexibility and overall risk management. So what are the types of Forex slots? Forex slots come in three forms: 1) Micro Lots, 2) Mini Lots and 3) Standard Lots.