/15 2 votes, 5 avg 11 Created on September 14, 2020 SOPHOMORE FOREX EXAM 1 / 15 Two methods of analyzing the FOREX market are ____________. Fundamental Technical Both A and B None of the Above 2 / 15 On a traditional Candlestick chart, a bullish candlestick means the market is going up. What color is a candlestick that has upward movement? RED GREEN BLUE None of the Above 3 / 15 What do you need before you can begin trading forex? Expertise in Forex A Broker Broker License for Retail Forex Trading None of the Above 4 / 15 Market Execution allows traders to buy or sell instantly at the current market price plus spread. TRUE FALSE 5 / 15 Borrowing from your broker to increase the money in your account for trading is called ________________. Margin Loan Leverage None of the Above 6 / 15 When choosing a broker, why is a low spread important? Lower Cost Per Trade High spreads make more money The spread isn't important. None of the Above 7 / 15 If a trader is following news reports on a country’s economy, this type of analysis is fundamentals. True False 8 / 15 If your position drops due to value and the broker closes your trade, this is known as which of the following? Margin Margin Call Leverage None of the Above 9 / 15 Analysis that uses price action, chart patterns, and indicators is called fundamental analysis. TRUE FALSE 10 / 15 Traders are able to see price action for currency pairs over different timeframes ranging from 1 year to 1 minute. TRUE FALSE 11 / 15 It is important to make sure that your chosen FOREX broker is registered and regulated by ____________________ to ensure compliance and reputation. FUTURES TRADING COMMISSION (FCM) COMMODITY FUTURES TRADING COMMISSION (CFTC) Both A and B None of the Above 12 / 15 The most commonly used chart type by FOREX traders is the _____________ . CANDLESTICK BAR LINE None of the Above 13 / 15 The best way to prevent slippage at the entry point is to use a STOP type of order when entering a trade. TRUE FALSE 14 / 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? 30 Minute Timeframe 1 Hour Timeframe 4 Hour Timeframe All of the Above 15 / 15 Margin is a portion of your funds that the broker sets aside to keep your trade open and cover potential loss. True False Your score is LinkedIn Facebook Twitter VKontakte 0% Restart quiz Please rate this quiz Send feedback