# FOREX Trading Beginner Level: Quiz

15 Questions | Total Attempts: 97

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• 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.
• 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.

• 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.

• B.

Open a sell limit order

• C.

• 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

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