Forex Trader Training

Question 1

How big is a STANDARD LOT?

Accepted Answer

100,000 currency units

Answer

1,000 currency units

Answer

1,000,000 currency units

Answer

100 currency units

Question 2

Describe LIMIT order.

Accepted Answer

An order to buy or sell at a specific price with no room for negotiation

Answer

A directive to keep the price at the going rate

Answer

A request to purchase a specific quantity of lots

Answer

A request that must be fulfilled right away

Question 3

Describe market order.

Accepted Answer

A purchase order placed at the going rate

Answer

A directive to purchase and mark the orders

Answer

A request to restrict the order to particular markets

Answer

A request that must be fulfilled right away

Question 4

What does the REVERSAL pattern's name mean?

Accepted Answer

Double bottom

Answer

Currency

Answer

Double pattern

Answer

All of the above

Question 5

What does having GO LONG actually mean?

Accepted Answer

You purchased the base currency with the expectation that it will increase.

Answer

On your open position, you have earned money.

Answer

You have closed out every position you had.

Answer

You overspent your margin on purchases.

Question 6

What does this price pattern's name mean?

Accepted Answer

Double top

Answer

Triple top

Answer

Diamant

Answer

Double bottom

Question 7

What does having a SHORT position mean?

Accepted Answer

You've bought the counter currency and sold the base currency.

Answer

You lost money on a position.

Answer

You anticipate a decline in the base currency.

Answer

You purchased the base currency and then sold it.