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Forex Trading Basics

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Questions and Answers

What is the total daily liquidity of the Forex market?

$7.3 Trillion dollars
$10.3 Trillion dollars
$5.3 Trillion dollars (correct)
$3.3 Trillion dollars

What is the primary function of Forex Brokers?

To provide currency exchange rates
To facilitate trade between countries
To give access to the Forex market (correct)
To regulate the Forex market

What is traded on the Forex market?

Commodities and assets
Stocks and bonds
Clothes and shoes
Currency pairs, exotic, indices, etc. (correct)

What is the name of the application to be downloaded for Forex trading?

Meta Trader 4 (A) Signup and view all the answers

What is the purpose of the Meta Trader 4 application?

To trade on the Forex market (B) Signup and view all the answers

What is the full form of Forex?

Foreign Exchange (A) Signup and view all the answers

What do brokers provide to traders in the Forex market?

Trading accounts and leverage (A) Signup and view all the answers

Why is it recommended to trade when two or more markets are open at the same time?

To take advantage of increased volatility and potential profit (B) Signup and view all the answers

What is the benefit of having multiple trading sessions open at the same time?

More opportunities for profit due to increased volatility (A) Signup and view all the answers

What is the reason some experienced traders may not teach others how to trade Forex?

They want to maintain a competitive advantage (D) Signup and view all the answers

What is the author's advice to those who want to learn how to trade Forex?

Follow the trading closely and learn from experience (B) Signup and view all the answers

What is the author's opinion on hoarding knowledge?

It will not lead to progress (D) Signup and view all the answers