Indicators
What does EMA stand for and what does it tell you?
Exponential Moving Average and it confirms the trend.
True or False. Twin trading means trading two different currency pairs at the same time.
False. Twin trading is entering the same trade twice on the same currency pair.
What are the two main parts of a candle?
The body and the wick.
True or False. 0.01 is the smallest lot size you can enter on any trade and is ALWAYS 10 cents per pip
0.01 is the smallest lot size you can enter but it is not always 10 cents per pip.
0.01 is 10 cents per pip in forex, 1 cent in BTC and other crypto and $1 for US30 and other assets
The unit of measurement to express the change in value between two currencies.
What is a PIP?
Name two functions of the Stochastic Oscillator.
The Stochastic Oscillator shows:
- the momentum and who has control of the market
- when there is a reversal about to happen
- if the price has been overbought or oversold
What are the 4 Forex trading sessions and their times?
New York 9 AM EST - 5 PM EST
Sydney 5 PM EST - 2 AM EST
Tokyo/Asian - 7 PM EST - 4 AM EST
London - 3 AM EST - 12 PM EST
What are the 4 things that every candle should tell us about the price?
The open, the close, the high and the low.
A round-trip flight from EWR to MIA cost 85 pips x 0.35 EU lots. How much is it in USD?
$297.50
Terms for two respective levels on a price chart that appear to limit the market's range of movement.
What is Support and Resistance?
True or False. When two EMAs cross, this is a great entry signal and a sign that the trend has changed.
True
What currency does CHF describe?
The Swiss Franc.
PIP, PIP, HOORAY!
You just earned 3 points!
Bobbie only needs 29 pips with a 2.55 CJ lots to pay his car note and insurance. How much is his car note and insurance?
$739.50.
A type of price chart used in technical analysis that displays the high, low, open, and closing prices of an asset for a specific period.
What is a Candle?
Using Cha Cha's strategy, name at least 4 selling confirmations.
- The candles are below the blue EMA
- The candles are below the purple EMA
- The MOM is facing down
- The MOM is negative
- The Stochastic is facing down
- The orange line is above the blue line
- The Stoch numbers are below 50
Name the 3 different types of analysis that every trader must do for every trade.
Checking the news falls under which category.
Fundamental (News)
Technical
Sentimental
What candle pattern is this and what does it tell us?
Tweezer bottom and it signals a reversal from selling to buying.
Tiff needs to make $3900 next month to pay her first, last and security. She does not want to trade on weekends. How much does she need to make a day to meet her goal?
$195 - $200.
A term used in technical analysis that refers to the space between candlesticks on a candlestick chart.
What is a Gap or Gapping?
The Best Forex Strategy I've Used in 3 years | 4 indicators
PIP, PIP, HOORAY!
You just earned 5 points!
Who wrote The Candlestick Trading Bible?
Munehisa Honma
Sol had an interesting trading week. On Monday, she started with $200 and she caught 56 pips using 0.20 lots. On Tues, she caught 40 pips using 0.20 lots in a twin trade. On Wednes, her trade hit SL for 30 pips using using 0.05 lots. Thursday, her trade hit SL for 25 pips using 0.05 lots and then lost 25 pips using a 0.15 on Friday. How much did she make or lose this week?
200 + 112 + 80 - 15 -12.50 - 37.50 = $327
She made $127
This term is used in finance to describe how easily an asset can be bought or sold in the market without affecting its price.
What is Liquidity?