Forex Trader Training

Describe LIMIT order.

A directive to keep the price at the going rate

A request to purchase a specific quantity of lots

A request that must be fulfilled right away

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

Correct! Wrong!

Describe market order.

A directive to purchase and mark the orders

A request to restrict the order to particular markets

A purchase order placed at the going rate

A request that must be fulfilled right away

Correct! Wrong!

What does this price pattern's name mean?

Triple top

Diamant

Double top

Double bottom

Correct! Wrong!

What does having GO LONG actually mean?

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

On your open position, you have earned money.

You have closed out every position you had.

You overspent your margin on purchases.

Correct! Wrong!

How big is a STANDARD LOT?

100,000 currency units

1,000 currency units

1,000,000 currency units

100 currency units

Correct! Wrong!

What does the REVERSAL pattern's name mean?

Currency

Double bottom

Double pattern

All of the above

Correct! Wrong!

What does having a SHORT position mean?

You lost money on a position.

You anticipate a decline in the base currency.

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

You purchased the base currency and then sold it.

Correct! Wrong!

Describe LIMIT order.

Describe market order.

What does this price pattern's name mean?

What does having GO LONG actually mean?

How big is a STANDARD LOT?

What does the REVERSAL pattern's name mean?

What does having a SHORT position mean?

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