We are here with another weekly trading quiz for our community, where anyone can test their general trading knowledge. The quiz consists of 15 questions where you must choose the correct answer.
#1. If the forex market is the largest financial market in the world, how big is it?
#2. What is the second most traded currency?
#3. One important thing to note about the forex market is that most currency trading is based on speculation.
#4. Which currency pair has the following nickname: Chunnel.
#5. A bull market, a _____ level is an area that price has difficulty breaking through the downside.
#6. When drawing trend lines, you should never _____.
Never force them to fit the market.
Connect a top and a bottom.
Not connect subsequent tops and bottoms.
#7. When the price is trading within a channel, what is it doing?
Four green candlesticks form
Price traders within two parallel lines
Price trades within two intersecting lines
#8. Which currency pair has the following nickname: Loonie.
#9. In Forex, what are the three main types of analysis?
Fundamental, technical, sentimental
Statistical, technical, mechanical
Fundamental, quantitative, Qualitative
#10. The market reflects all available market information because all traders have access to the same prices of data.
#11. Which type of analysis looks at historical price movements to determine the current trading conditions and potential price movements?
#12. When a trader believes that price will go up, he is feeling _____.
#13. On the following answers, which is the biggest disadvantage of going through a centralized exchange?
#14. Which Central bank policy action tends to have the biggest effect on exchange rates?
Buying lottery tickets with reserves
Controlling the supply of money
Adjusting interest rates
#15. In a free-floating system, what determines exchange rates?
Supply and demand
Additionally, for anyone who is looking to start trading and doesn’t have the capital to do so. You can check our post about what working for a prop firm looks like by clicking here.