Final College Test
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Question 1 |
When trading Binary Options on the stock of a certain company, do I need to be aware of that company’s Earnings Reports?
From the Article The Four Fathers of Binaries–Stocks
A | Why would I care? I am just interested in my earnings, not theirs. Hint: Easy there, you can’t neglect fundamentals |
B | Yes, it can affect the price of that company’s stock and of course, my Binary Option. Hint: Correct, Final test should be easy for you |
C | Yes, so I can brag to my friends about how well informed I am. Hint: No, get educated, brag with your money instead! |
D | No, I just watch the Oil price and trade according to that because all companies have cars. Hint: Some have Tesla cars, no but seriously, try again! |
Question 2 |
What is a Binary Options strategy?
From the Article Never Heard of Binary Options Strategies? Have No Fear, BOTS are Here!
A | Whenever you place a Call or a Put it means you are applying a strategy. Hint: Really? Without any rules? |
B | A strategy is a set of guidelines and rules which tells you when to enter the market and in what direction. It can also be backtested to see if it’s profitable or not. Hint: Well done! Now choose one and use it. |
C | Opening a Call is a strategy and opening a Put is a different strategy. Hint: Nope, that simply means you opened a trade. |
D | Telling people that trading is easy is a strategy. Hint: Yea, but that only works for brokers apparently. |
Question 3 |
What should you do if you don’t have a signal to trade?
From the Article Know When To Say When. Trading is All About Making Tough Decisions
A | Go out and get one. Hint: Or maybe wait for a signal from your strategy? |
B | Adjust your indicators until they show a signal. Hint: Ah, but then you will have signals all the time. |
C | Ask your signal provider or your broker. Hint: Because they all want you to make lots of money… |
D | Wait patiently until you get a valid, solid signal generated by your strategy. Hint: Patience is a virtue and it seems you’ve got it. |
Question 4 |
What are Japanese Candlesticks?
From the article: Binary Options Charts – Why, What, How?
A | A type of chart that shows in depth price information Hint: Domo Arigatou Gozaimasu! |
B | Horizontal lines drawn to show support and resistance Hint: No... You won’t graduate if you keep answering like this! |
C | Something you probably find in Chinatown Hint: If you want to muck the test at least get the country right, Japan town! |
D | One form of fundamental analysis Hint: No fundamentalists here, it’s technical… |
Question 5 |
Name one or more “trading myths”.
From the Article Binary Options Trading for Living – 101 Myths and Tales
A | My strategy works with 90% accuracy! Hint: Wow really? |
B | My strategy works in any market condition. |
C | You need to be a winner in a majority of your trades in order to make money Hint: You don’t need that if your Risk to Reward ratio is well balanced. |
D | All of the above. Hint: You’re done, now go look at your results. |
Question 6 |
What is a share?
From the Article The Four Fathers of Binaries–Stocks
A | A Facebook button that allows me to share my pictures Hint: Funny guy, hey, so long as you remain happy after losing money… |
B | A portion of a cake Hint: Mmmm cake! I will ignore this false answer because… CAKE |
C | The entire stock of a company can be divided into shares so shares are small parts of the company. Hint: You know what, just give me 20$ and I let you pass the test! |
D | A derivative financial product Hint: Nicely done, tell me again why you aren’t trading already? |
Question 7 |
How many companies are in the S&P 500?
From the Article The Four Fathers of Binaries–Indices
A | Every US company that is big enough is contained by the S&P 500 Hint: Uhm, what does this have to do with the question? |
B | 100 Hint: Well dear, go back to school and find out! |
C | What is this “S&P 500” you are talking about? Hint: Seriously? The number is even in the name… |
D | 500 Hint: You made it! Good job, you’ll make a pro trader! |
Question 8 |
Name the top three tools used by Bogdan.
From the Article My Top 5 Little Helpers for Binary Options Success – Technical Tools
A | I don’t know the guy. How should I know what tools he uses? |
B | Binary Options, Stocks and Forex |
C | Stochastic, Relative Strength Index and Moving Averages. Hint: Top of your class, man. |
D | Bollinger Bands, Trig Money Flow and Awesome Oscillator. Hint: Because he’s awesome? |
Question 9 |
What is the worst thing about repainting indicators?
From the Article The King Walks Naked? What are Binary Options Tools and Indicators
A | They always run out of paint at the worst possible time. |
B | If you look back on charts they look amazingly accurate, but they show different things in real time. Hint: Yep, they lie so be careful. |
C | Never heard of such thing. Hint: Neither have l, but I might be lying. |
D | My car keeps changing colour. Guess somebody is repainting it. |
Question 10 |
Which of the following assets are easiest to trade?
From the article: Make Easy Money with Binary Options – Where Do I Sign?
A | Indices Hint: No, we mean the principle is simple, try B! |
B | Currencies Hint: No, we mean the principle is simple, try B! |
C | Commodities Hint: No, we mean the principle is simple, try B! |
D | All of the above, Binary options is simplified trading Hint: Very good, tests are fun when you know the answers, right? |
Question 11 |
Name three of Michael’s favourite strategies.
From the Article The Geek Reveals – My Top 5 Newbie Strategies
A | Oh, yet another guy I don’t know. What is this, Game of Thrones? |
B | Call, Put and I can’t remember the last one Hint: We already told you Call and Put are not strategies. Duh! |
C | The Best of MACD Entries, The Trend Is Your Friend and the Pinocchio Strategy. Hint: Like a Boss, mate! |
D | He likes to trade longer expiry times than l, so I guess his strategy is long-term. Hint: Maybe, but that wasn’t the question, was it? |
Question 12 |
If supply is low for an asset but demand is high, what normally happens to the price of that asset?
From the Article Binary Options: Basics, Charting and Analyzing
A | It goes up Hint: Straight to da moon! |
B | It goes down Hint: Sooo… if you have 5 bananas and 10 people… you know what, just go study please! |
C | It moves sideways Hint: Sooo… if you have 5 bananas and 10 people… you know what, just go study please! |
D | Flip a coin to get the answer Hint: Sooo… if you have 5 bananas and 10 people… you know what, just go study please! |
Question 13 |
When should you trade?
From the Article Know When To Say When. Trading is All About Making Tough Decisions
A | Whenever. Hint: Whenever you get a… signal maybe? |
B | When my signal service provider tells me to. Hint: Sure, because signal providers are so reliable... |
C | When my broker wants me to. Hint: Yea, your broker should say when to trade, not your strategy (take with a pinch of sarcasm). |
D | When you get a signal from your tested strategy. Hint: Now that you know the answer, go test your strategy. |
Question 14 |
What is a Put Option?
From the Article Binary Options Glossary
A | A specific Binary Option type, which is suitable for shorter time frame trading |
B | A common type of Binary Options that expresses a traders belief that price will be higher at expiry than it was when he bought the option |
C | A common type of Binary Options that expresses a traders belief that price will be lower at expiry than it was when he bought the option |
D | A specific Binary Option type, which is suitable for longer time frame trading |
Question 15 |
What is Meta Trader 4?
From the Article MetaTrader4 – The MUST have charting software
A | Food that can cause you to get fat, similar to Shawarma. Hint: Shawarma??? |
B | A Binary Options brokerage. Hint: or maybe a charting software… |
C | One of the most well-known and complex charting packages. Hint: Hmm so you’ve used it before. |
D | A very good trader. The 4th generation of trading gurus. |
Question 16 |
In the Weekly/Monthly and Daily Trading Room in CommuniTraders Forum you’ll find…
From the article: Introduction To BOTS Forum – Where the Action Happens
A | Broker’s and signal service’s ads Hint: Nope, but you might find those in the Business Room |
B | People chatting and asking random stuff Hint: “Trading Room”, try again, you can do it! |
C | Strategies and tools Hint: That’s the tool and strategies room, wrong answer |
D | Trading tips, analysis and forecasts from Pro traders Hint: Great! That’s where all the action happens! |
Question 17 |
So you have a strategy and you feel you have enough knowledge to start trading. What do you need next?
From the Article Strategies, Tools and What’s Between Them
A | Money!!! Hint: Sure, money too, but you’re gonna lose it if you don’t have good charts. |
B | A partner. Hint: Your chart is your partner. |
C | A pen. Hint: Try writing “charts” with your pen |
D | A charting platform. Hint: so you don’t like the charts offered by Binary Options brokers? Neither do we. |
Question 18 |
When should a strategy be abandoned?
From the article: The Worst Binary Options Strategy. Ever. Real Story
A | If you are consistently losing even though you are following the strict rules of the strategy Hint: True, why keep doing something that doesn’t work? |
B | If a professional trader suggested the use of the strategy Hint: No, you should always consider what a professional suggests. |
C | If one is required to trade against the main trend Hint: But what if it gives consistent wins? Wrong, try again! |
D | If it’s not recommended by a Guru Hint: Oh those Gurus! Never listen to them. |
Question 19 |
From what are all indicators derived/calculated?
From the Article The King Walks Naked? What are Binary Options Tools and Indicators
A | From price! Hint: There you go! You’re a natural. |
B | How should l know? Hint: Well, you did read the article, didn’t you? |
C | Magic!!! Hint: Is price magic? |
D | Jedi Mind Tricks |
Question 20 |
What is the “the positive effect of limited trading hours”?
From the Article Efficient Time Management – Turning Trading to Profession Part 2
A | Becoming much more specialized on few chosen assets |
B | You are not bound to watch the screen the whole day and you keep your mind calm and fresh for trading |
C | You limit your risk and let the profit run |
D | You avoid the effect of the black swan |
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