Forex Trading Cheat Sheet 2026

The 30 highest-yield Forex Trading facts, distilled from real exam questions. Print it, save it as a PDF, or study it here — free, no sign-up.

1. Define market order. → An order to buy at the market price
2. What is a 'sell limit' order in Forex? → An order to sell at or above the current market price at a specified level
3. When a trader retains an open position for more than 24 hours, does the futures contract in question incur rollover interest? → False
4. When you place a pending order to purchase something at less than the going rate on the market, you must: → Open a buy limit order
5. What is the typical Silver COMEX lot size? → 5000 Troy Ounce
6. Which of the following technical analysis terms is peculiar? → Gremlin pattern
7. Which of these is not a day trading indicator? → Ichimoku pattern
8. What does 'drawdown' refer to in Forex trading performance? → The peak-to-trough decline in account equity during a losing period
9. What is the primary indicator? → Price itself
10. What is the 'spread' in Forex trading? → The difference between the bid and ask price
11. What is a 'lot' in Forex trading? → A standard unit of trade size
12. What is a 'market order' in Forex trading? → An instruction to execute a trade immediately at the current market price
13. What virtues do successful traders possess? → They stick to a well developed Trading plan
14. What typically happens to a currency when its central bank adopts a 'dovish' policy stance? → The currency weakens due to expectations of lower interest rates
15. What does this price pattern's name mean? → Double top
16. Define the forex trading? → All of the above
17. What is a 'buy stop' order used for in Forex? → To buy a currency pair above the current market price once a level is broken
18. Which of these indicators best depicts the market's stage? → Moving average convergence and divergence
19. If you believe there are more than one possible answers, select more than one. The EUR/USD pip value is computed in: → Variable Currency
20. Which of the following economic indicators is classified as a 'leading' indicator because it predicts future activity? → Purchasing Managers' Index (PMI)
21. What does having a SHORT position mean? → You have sold the base currency and bought the counter currency.
22. Who was the Ichimoku trading system's creator? → Goichi Hosoda
23. What causes 'requotes' in Forex order execution? → Market price moving away from the requested price before the order is filled
24. What is a 'pending order' in Forex? → An order set to trigger automatically when the market reaches a specific price
25. What does 'Good Till Cancelled' (GTC) mean for a Forex order? → The order remains active until it is either filled or manually cancelled
26. Which of the following is TRUE about the Forex market's operating hours? → It is open 24 hours a day, 5 days a week
27. What does the price in the BID mean? → The price you can sell the base currency
28. When you start a trade, you are? → Buying or selling the base currency and profiting or losing on the variable currency
29. Which of these measures forex market volatility? → Bollinger bands
30. In a currency pair such as USD/JPY, which currency is the 'base currency'? → USD