SOPHOMORE QUIZ

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SOPHOMORE FOREX EXAM

1 / 15

On a traditional Candlestick chart, a bullish candlestick means the market is going up. What color is a candlestick that has upward movement?

2 / 15

What do you need before you can begin trading forex?

3 / 15

Margin is a portion of your funds that the broker sets aside to keep your trade open and cover potential loss.

4 / 15

When choosing a broker, why is a low spread important?

5 / 15

If a trader is following news reports on a country’s economy, this type of analysis is fundamentals.

6 / 15

Traders are able to see price action for currency pairs over different timeframes ranging from 1 year to 1 minute.

7 / 15

The most commonly used chart type by FOREX traders is the _____________ .

8 / 15

Borrowing from your broker to increase the money in your account for trading is called ________________.

9 / 15

Analysis that uses price action, chart patterns, and indicators is called fundamental analysis.

10 / 15

Two methods of analyzing the FOREX market are ____________.

11 / 15

Top-Down Analysis allows you to look at the overall picture of a currency pair. Which timeframes are used in a Top-Down analysis?

12 / 15

The best way to prevent slippage at the entry point is to use a STOP type of order when entering a trade.

13 / 15

If your position drops due to value and the broker closes your trade, this is known as which of the following?

14 / 15

It is important to make sure that your chosen FOREX broker is registered and regulated by ____________________ to ensure compliance and reputation.

15 / 15

Market Execution allows traders to buy or sell instantly at the current market price plus spread.

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