The FOREX Trading Styles Quiz! Trivia

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| By Gregorynaomi

Gregorynaomi

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Quizzes Created: 1463 | Total Attempts: 759,249

Questions: 10 | Attempts: 270 | Updated: Mar 21, 2023

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The FOREX Trading Styles Quiz! Trivia - Quiz

The forex trading styles quiz trivia. A lot of people are being introduced to foreign trading and this is as a result of it being the greatest liquid market available. Traders can opt to use scalping, intraday trading or day trading, swing trading or trend trading when choosing their trading style. The styles are dependent on how long the trade is open for. Take this quiz to learn some more about these styles.

Questions and Answers

1.

What does going long means in the forex market?
- A.
  
  To close a trade
- B.
  
  To open a trade
- C.
  
  To draw a chart
- D.
  
  To initiate a buy order
Correct Answer
D. To initiate a buy order

Explanation
Going long in the forex market means initiating a buy order. When a trader goes long, they are purchasing a currency pair with the expectation that its value will increase. This involves buying the base currency and selling the quote currency. By going long, traders aim to profit from the appreciation of the base currency against the quote currency. It is the opposite of going short, which involves selling a currency pair with the expectation that its value will decrease.

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2.

What does going short means in the forex market?
- A.
  
  To draw an analysis chart
- B.
  
  To initiate a sell order
- C.
  
  To pause a trade
- D.
  
  To start a trade
Correct Answer
B. To initiate a sell order

Explanation
Going short in the forex market means initiating a sell order. When a trader goes short, they are selling a currency pair in anticipation of its value decreasing. This allows them to profit from the decline in price. Going short is the opposite of going long, which involves buying a currency pair in anticipation of its value increasing.

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3.

Which of these currencies is sometimes called Greenback in the forex market?
- A.
  
  Dollar
- B.
  
  Dinar
- C.
  
  Rand
- D.
  
  Euro
Correct Answer
B. Dinar

Explanation
The correct answer is Dollar. The currency that is sometimes called Greenback in the forex market is the Dollar. The term "Greenback" originated from the green color of the US dollar bills. It is a nickname commonly used to refer to the US currency in the forex market.

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4.

Which of these is not traded on the forex market as of 2019?
- A.
  
  Dollar
- B.
  
  Yen
- C.
  
  Dinar
- D.
  
  Euro
Correct Answer
C. Dinar

Explanation
The correct answer is Dinar. As of 2019, the Dinar is not traded on the forex market. The forex market, also known as the foreign exchange market, is where currencies are bought and sold. However, the Dinar is not widely traded or accepted in international markets, and therefore it is not included in forex trading.

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5.

Which of these terms refers to the British Pounds?
- A.
  
  Hawkish
- B.
  
  Dovish
- C.
  
  Cable
- D.
  
  Kiwi
Correct Answer
C. Cable

Explanation
The term "Cable" refers to the British Pounds. This term originated from the time when the exchange rate between the British Pound and the U.S. Dollar was transmitted through a transatlantic cable. It has since become a commonly used term in the financial industry to refer to the British Pound.

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6.

Which of these is irrelevant in the determination of the exchange rates?
- A.
  
  International parity conditions
- B.
  
  International trade activity
- C.
  
  Balance of payments model
- D.
  
  Asset market model
Correct Answer
B. International trade activity

Explanation
International trade activity is irrelevant in the determination of exchange rates because exchange rates are primarily determined by international parity conditions, the balance of payments model, and the asset market model. International trade activity can influence exchange rates indirectly by affecting the balance of payments, but it is not a direct determinant of exchange rates. Factors such as interest rates, inflation rates, and market speculation have a more direct impact on exchange rates.

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7.

Which of these is not a form of psychology affecting the market?
- A.
  
  Flights to quality
- B.
  
  Buy the rumor, sell the fact
- C.
  
  Long-term trends
- D.
  
  Fundamental trading considerations
Correct Answer
D. Fundamental trading considerations

Explanation
Fundamental trading considerations are not a form of psychology affecting the market. Psychology in the market refers to the emotions, behaviors, and biases of traders that can influence their decision-making. Flights to quality, buy the rumor, sell the fact, and long-term trends are all examples of psychological factors that can impact market behavior. However, fundamental trading considerations are based on objective analysis of a company's financial health, such as its earnings, revenue, and valuation, rather than psychological factors.

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8.

When do the non-farm payrolls occur?
- A.
  
  First Sundays of the month
- B.
  
  First day of the month
- C.
  
  First Mondays of the month
- D.
  
  First Saturday of the month
Correct Answer
A. First Sundays of the month

Explanation
Non-farm payrolls occur on the first Sundays of the month. This is a regular occurrence where the Bureau of Labor Statistics releases data on job creation and unemployment rates in the United States. By specifying the first Sundays of the month, it indicates a consistent schedule for the release of this important economic data.

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9.

What is the code XTS reserved for?
- A.
  
  Analysis
- B.
  
  Testing
- C.
  
  Trading
- D.
  
  Confirmation of transactions
Correct Answer
B. Testing

Explanation
The code XTS is reserved for testing purposes. This code is used to simulate and evaluate the functionality and performance of a system or software before it is deployed or used in a live environment. Testing helps identify any bugs, errors, or issues in the system and ensures that it meets the desired specifications and requirements.

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10.

Which of these refers to the Swiss Franc?
- A.
  
  USD
- B.
  
  CHF
- C.
  
  JPY
- D.
  
  CNY
Correct Answer
B. CHF

Explanation
The correct answer is CHF. CHF is the currency code for the Swiss Franc. USD refers to the United States Dollar, JPY refers to the Japanese Yen, and CNY refers to the Chinese Yuan.

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