Level 1
What does forex stand for?
Foreign Exchange Market
What are the three types of market?
Bullish, Bearish, Ranging
What sequence defines an uptrend?
Higher Highs & higher Lows
What sequence defines an downtrend?
Lower lows & Lower highs
What is one trade rule you should never break?
Risk only what you can afford to lose/ Proper Risk
What is the most important job of a trader?
Risk Management
What is a pullback?
A temporary move against the trend
What is a fakeout?
When price breaks structure but fails to hold
Which timeframe gives the overall bias?
The higher timeframe
What’s worse than a losing trade?
Breaking your rules
What is the name of the book that breaks down candlesticks in-depth?
The Candlestick Trading Bible
When should you NOT trade?
When emotional or unclear
What emotion causes traders to chase trades?
FOMO
Why is trading against the higher timeframe dangerous?
your trading aganist the big money makers in the market
What is market execution?
Entering the trade at the current price
What is it called when price breaks a previous high or low?
Break of structure (BOS)
You are either ______ or _____ pairs
Buying or selling
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 mindset leads to revenge trading?
Ego and/or frustration
What mistake do traders make when they only watch LTF?
They can mistake a pullback for a reversal
If price, structure, and psychology all conflict, what should you do?
Do nothing and wait for clarity
Why does the market not owe you anything?
Because it’s neutral and emotionless
What causes most traders to enter too early?
Psychology