Forex Basics
Pending Orders
Candlesticks
(Lot) Size Matters
Technical Analysis
100
True or False. Forex trading involves the buying and selling of global currencies.
True
100
What type of order has:
Entry above the current market.
TP above.
SL below.
Buy stop
100
What are the two main parts of a candle?
The body and the wicks
100
Mariah must make $175 this week to pay an upcoming bill. So far, she has caught 130 pips on GBPUSD using a 0.05 lot size. How much more money does she have to make until she reaches her goal?
$110 or 220 pips at this rate
Step 1: [130pips x 50 cent per pip = $65]
Step 2: [$175 - $65 = $110]
100
A popular trend indicator that can be expressed as Simple, Exponential, or Weighted over 10, 50, 100, and 200-day periods.
Moving Average
200
True or False. The Forex Market closes every Monday and Wednesday from 5 - 6 PM EST.
True.
200
What type of order has:
Entry at the current market price.
TP above.
SL below.
Market execution (buy)
200
What are the 4 things that every candle should tell us about the price?
The open, the close, the high and the low.
200
Gia is tired of losing money on random signals and has decided that she ONLY wants to trade XAUUSD 5 days a week. She is comfortable using a 0.30 lot size. At this rate, how many pips will it take her to make $100?
333 pips
200
PIP, PIP, HOORAY!
You just earned 2 points!
300
True or False. When the Market is in a downtrend, this is known as ranging or consolidation.
False. Consolidation is when the market is moving sideways with no clear direction.
300
What type of order has:
Entry above the current market.
TP below.
SL above.
Sell limit
300
What candle pattern is this:
- has 2 candles
- found at the bottom of a downtrend
- signaling a bullish reversal
- equal lows
Tweezer Bottoms
300
Soleil woke up to a parking ticket for $85. "No big deal," she said, "If I catch a few pips on a standard, I can pay this off today!" Using a standard lot, how many pips would Soilel need to catch to pay his fine and grab lunch for $14?
10-11
A standard lot is $10 per pip.
300
True or False: When using the Stochastic, when the orange line is above the blue line, this is bullish/buying confirmation.
False. This is a bearish/selling confirmation.
400
Which trading session is from 5:00 PM EST - 2:00 AM EST?
AUD/Sydney.
400
What type of order has:
Entry below the current market.
TP below.
SL above.
Sell stop
400
Name 2 bullish candlestick patterns
Bullish engulfing
Bullish harami
Morning star
3 white solidies Hammer
400
What is difference between 0.01 lot size on AUDCAD and a 0.01 lot size on XAUUSD?
0.01 is 10 cents per pip for currencies and 1 cent per pip on gold
400
True or False. The MOM indicator gets its name because it's always right and tells you what to do.
False. MOM stands for Momentum. This momentum indicates whether an asset's value is strong or weak, helping a trader decide whether to buy or sell a particular asset
500
True or False: Day trading is considered one of the top 10 ways to become a millionaire.
500
What type of order has:
Entry below the current market.
TP above.
SL below.
Buy limit
500
Who wrote The Candlestick Trading Bible?
Munehisa Honma
500
Thomas started a new trading plan this week with NZDJPY and $500.
Monday: -40 pips using a 0.25
Tuesday: +80 pips using a 0.25
Wednesday -40 pips using a 0.25
Thursday -25 pips using a 0.25
Friday - +80 using 0.25
What is hit net profit at the end of the week?
M: -40 (-$100)
Tu: +80 (+$200)
W: -40 (-$100)
Th: -25 (-$62.50)
F: +80 (+$200)
500
Name 3 confirmations and 1 entry signal to enter a trade for a buy.
1. Candles are above 1 or both EMAs.
2. Mom is facing up.
3. MOM is above 0.
4. Stoch is facing up
5. Blue line is above the orange line
6. Above 50% line
7. Stoch crossing any line (OS, 50)
8. Break of structure
9. Bullish Engulfing or ANY bullish candle pattern