FOREX Trading Beginner Level: Quiz
(77).jpg "FOREX Trading Beginner Level: Quiz - Quiz")
. What do you know about FOREX trading? FOREX market can grow complex as you invest more in the market. There are a few key things you can do. Figure out your trading personality, Learn strategies that work for your character, create a smart trading plan, and finally, test out your trading plan. Take this quiz and learn more about FOREX trading.
- 1.
When you open a trade you are- A.
Buying and selling the variable currency and profiting or losing on the variable currency
- B.
Buying the base currency and profiting on the variable currency
- C.
Selling the variable currency and losing on the base currency
- D.
Buying and selling the base currency and profiting or losing on the variable currency
- 2.
In the currency pair EUR/USD the variable currency is the
- A.
EUR
- B.
USD
- 3.
In the currency pair USD/JPY the variable currency is the
- A.
USD
- B.
JPY
- 4.
When you open a buy position your stop lose should be
- A.
Above the entry price
- B.
On the entry price
- C.
Bellow the entry price
- D.
Bellow and above the entry price
- 5.
When you open a sell position your take profit shoul be
- A.
Above the entry price
- B.
Bellow the entry price
- C.
On the entry price
- D.
Bellow the the buying price
- 6.
In order to calculate the pip value on a currency pair you need to
- A.
Know the rate of the currency pair
- B.
Know the trade volume and the currency pair's number of digits
- C.
Know if you will open a buy or sell position
- D.
Know the currency pair's interest rate
- 7.
The pip value of EUR/USD is calculated in (this question might have more than one correct answer you can mark more than one)
- A.
USD
- B.
EUR
- C.
Base currency
- D.
Variable Currency
- 8.
In order to calculate the value of a pip on a 5 digit rate such as 1.55542 you need to devide the trade volume by
- A.
1,000,000
- B.
100
- C.
10,000
- D.
1,000
- 9.
In order to calculate the value of a pip on a 3 digit rate such as 79.643 you need to devide the trade volume by
- A.
1,000
- B.
10,000
- C.
10
- D.
100
- 10.
On currency pairs 1 lot equals to
- A.
1,000,000 units of the base currency
- B.
100,000 units of the base currency
- C.
100,000 units of the variable currency
- D.
100,000 units of the base and variable currency
- 11.
When you open a sell position you hope the market will
- A.
Stay on the entry price
- B.
Go up
- C.
Go down
- D.
Fluctuate
- 12.
If your leverage is 1:200 that means for a lot trade on EUR/USD you need to have a margin of
- A.
500 USD
- B.
5000 EUR
- C.
830 USD
- D.
500 EUR
- 13.
When the price on a currency pair is going up it means that
- A.
The market is bearish and the variable currency is getting weaker
- B.
The market is bullish and the variable currency is getting stronger
- C.
The market is bearish and the variable currency is getting weaker
- D.
The market is bullish and the base currency is getting stronger
- 14.
When you open a pending order to sell at a higher price than the current market price you need to
- A.
Open a buy stop order
- B.
Open a sell limit order
- C.
Open a buy limit order
- D.
Open a sell stop order
- 15.
If you open a sell pending order bellow the current market price your stop loss would be
- A.
Above the desired price
- B.
Bellow the desired price
- C.
At the market price
- D.
None of the above
.png "When you open a trade you are")
Questions: 15 | Attempts: 5723 | Last updated: Jun 26, 2022
-
Sample QuestionWhat is STANDARD LOT size?
Questions: 15 | Attempts: 1150 | Last updated: Mar 21, 2022
-
Sample Question
Questions: 10 | Attempts: 776 | Last updated: Mar 22, 2022
-
Sample QuestionWhich of these terms is odd in technical analysis?
Back to top