Level 1
What does forex stand for?
Foreign Exchange Market
What are the three types of market?
Ranging, choppy, trending
Name 3 London sessions pairs
GBP, GER30
What are the 3 lot sizes and what do they represent?
0.01- 10 cents
0.10- $1
1.00- $10
What time does the London session start?
3AM
What does pip stand for?
point in percentage
What is my margin level & what happens if it goes below 400?
How healthy your trading account is, under 100 your broker can manually take you out of the trade
Name 3 Tokyo session pairs
JPY pairs
What do heikin ashi candles measure?
Momentum
What is the most volatile time to trade?
8am-12pm London and New York
Answer varies
What is the name of the book that breaks down candlesticks in-depth?
The Candlestick Trading Bible
What are the names of what we call your floor and ceiling?
Support and resistance
Name 3 NY Session Pair
US30, NAS100, SPX500, USD pairs AUD pairs
What is a lot size?
The amount of money your placing in a trade
What is market execution?
Entering the trade at the current price
Stop-loss hunting strategy
What do you with currency pairs?
Buy or sell them
What is a stop loss?
how much your willing to lose & having the broker take you out at that point.
What does a uptrend consist of?
higher highs & higher lows
What does a downtrend consist of?
lower lows & lower highs
What candlestick indicates indecision in the market?
Doji
How much is circulated through the forex market daily?
$7.3T OR $7.7T
Name 3 Indicies
SPX500, GER30, NAS100, US30
Name the 4 pending orders and what they mean
buy stop/sell stop (going through)
Buy limit/sell limit (bouncing off)
When you trade in session, you are trading with banks and other financial institutions, but when you trade out of session, you are trading with other traders.