1. The Forex Market is a Centralized Exchange. True False 2. What is a Pip? Price Interest Position Proprietary Indicator Package Price Interest Point Producer Interest Point 3. What does a Japanese Candlestick measure? Support & Resistance Price Fluctuation Against Time Market Reversals All of the Above 4. Using 100:1 Leverage if we purchase 10 Standard Lots how large is our position? $1,000 $10,000 $100,000 $1,000,000 5. Using 100:1 Leverage, if we purchase 5 mini lots, what is the approximate profit value, if 10 pips are captured? $5 $50 $500 $5000 6. An engulfing bullish candle is an indicator to buy in a downtrend market? True False I don’t know, I need more education 7. While the market is not trending, a trader should focus on what trading strategies? Perry Kaufman, T3 Tilson and Moving Averages Elliot Wave Theory, Moving Averages, Bullish Candle patterns Bullish Candle patterns, Bearish Candle patterns Support, Resistance, Consolidation Strategies I don’t know, I need more education 8. On an uptrend, when is the best time to go short? Never, only trade with the trend Only when scalping on a smaller time frame When it hits its peak and has 3 or more confirmations of reversal I don’t know, I need more education 9. In a convergence of Fibonacci retracements and trendlines what percentage of the time does the reversal point get tested before actually reversing? 38.2% of the time 50% of the time 61.8% of the time I don’t know, I need more education 10. Why do red light/ green light approaches have a lower probability of success then learning why the market moves and how to trade it? They are programmed by a person and people make mistakes They do not teach how the market moves, just how to click a mouse button They give false signals when the market is not in optimal conditions They hold positions longer than needed because the signals to buy or sell are lagging All of the Above I don’t know, I need more education 11. What are the three major Bullish Candlestick Patterns? Morning Star, Bullish Engulfing Candle, Tweezer Bottom Hanging Man, Dark Cloud Cover, Evening Star Spinning Tops, Shooting Star, Hammer Bullish Doji Star, Piercing Line, Gravestone Doji 12. When selling an Evening Star formation, you should set your stop how many pips above the high? 35 20 15 40
