Forex Trading Test 6
Define the forex trading?
Explanation:
In order for forex trading to function, traders must be able to simultaneously buy and sell one currency for another. You trade a pair of two currencies when you trade foreign exchange. The base currency is the first, while the quote currency is the second. You constantly trade a currency pair when trading forex.
Another confirmation can be obtained using the Fibonacci Retracement Tool.
Correct answer:
True
When a trader retains an open position for more than 24 hours, does the futures contract in question incur rollover interest?
Correct answer:
False
True/False: Only trades made during the New York session are provided by the Harmonic Scanner and the Bounceback Tool.
Correct answer:
False
What virtues do successful traders possess?
Please select 4 correct answers
Correct answer:
They master one strategy
They stick to a well-developed Trading plan
They never stop learning
They find multiple confirmations before entering a trade.
What are currency pairs that are indirect?
Correct answer:
When base currency is USD
When did governments in affluent nations stop controlling the FX market?
Explanation:
State regulation of foreign exchange trading was abolished in developed countries in 1973, marking the start of the era of fully floating and comparatively unrestricted markets.
A trader Bought GBP/AUD @ 1.8890 and Sell 1.8940 calculate p&l in USD? AUD/USD = 0.7860
Correct answer:
$393
Trader Bought 2 Standard Lot of Gold Comex @1150 and sold 2 Lots @1154 calculate P& L?
Correct answer:
$800
What three types of analysis are there?
Please select 3 correct answers
Correct answer:
Fundemental
Sentimental
Technical
A trader Long 1 Standard Lot of USD/JPY @122.10 and close position @122.50 Calculate Profit and Loss in USD?
Correct answer:
$326.53