/15 2 votes, 5 avg 11 Created on September 14, 2020 SOPHOMORE FOREX EXAM 1 / 15 If a trader is following news reports on a country’s economy, this type of analysis is fundamentals. True False 2 / 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 3 / 15 The most commonly used chart type by FOREX traders is the _____________ . CANDLESTICK BAR LINE None of the Above 4 / 15 Borrowing from your broker to increase the money in your account for trading is called ________________. Margin Loan Leverage None of the Above 5 / 15 Two methods of analyzing the FOREX market are ____________. Fundamental Technical Both A and B None of the Above 6 / 15 Margin is a portion of your funds that the broker sets aside to keep your trade open and cover potential loss. True False 7 / 15 Traders are able to see price action for currency pairs over different timeframes ranging from 1 year to 1 minute. TRUE FALSE 8 / 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 9 / 15 Analysis that uses price action, chart patterns, and indicators is called fundamental analysis. TRUE FALSE 10 / 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 11 / 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 12 / 15 Market Execution allows traders to buy or sell instantly at the current market price plus spread. TRUE FALSE 13 / 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 14 / 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 15 / 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 Your score is LinkedIn Facebook VKontakte 0% Restart quiz Please rate this quiz Send feedback