FOREX Trading Beginner Level: Quiz

15 Questions | Total Attempts: 97

SettingsSettingsSettings
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.


Questions and Answers
  • 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

Back to Top Back to top