Lesson 3

Forex Basics



Lesson Details

Forex Basics

Are you ready to learn the basics that you need to know to trade Forex? I bet you are! Get excited because you are well on your way to learning how to read a currency quote. Terms like "pip" and "lot" will start making much more sense to you after you complete this course. The Forex Basics course gives you a basic understanding of the fundamentals you need to know to start trading Forex. Prepare yourself, have a pen and paper ready, and get ready to embark on a wonderful journey into the lucrative world of Forex trading.

Answer 7 of 9 questions to advance to next lesson.

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What is the spread in this currency quote? (1.0034/1.0036)

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A pip represents?

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The central bank is inclined to raise rates if they are?

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A pip stands for?

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In major currency pairs a pip represents 1/10,000 of a US Dollar, in pairs which include the Japanese Yen a pip is?

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The central bank is inclined to cut rates if they are?

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In pairs with the JPY a pip is?

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The Japanese Yen is closer to?

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When trading a currency pair, the first currency in the pair is?

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