CEX Quiz Answers 6 December 2024
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1. Which type of chart is most popular among traders for detailed price action?
– Candlestick chart.
2. Why should traders practice on demo accounts?
– To learn without risking real money.
3. What is an uptrend characterized by?
– Higher highs and higher lows.
4. What’s the first step in starting with technical analysis?
– Learning to read charts and identify trends.
5. What does technical analysis aim to predict?
– Future price movements.
6. What is the primary focus of technical analysis?
– Historical price data and patterns.
7. What is the purpose of the Relative Strength Index (RSI)?
– To measure momentum.
8. What is a common mistake when using technical analysis?
– Overloading with too many indicators.
9. Which trend is defined by prices staying within a range?
– Sideways trend.
10. What does the limit price do in a stop limit order?
– Ensures the trade executes within a specified price range.
11. What should traders avoid when setting stop and limit prices?
– Placing them too close together.
12. What is the purpose of a stop price in a stop limit order?
– To trigger the order when the price reaches a certain level.
13. What happens if the market price doesn’t reach the stop price?
– The stop limit order will not activate.
14. What is a common mistake when using stop limit orders?
– Setting a limit price higher than the stop price.
15. What does a resistance level indicate?
– Where prices tend to stop rising.
16. What do traders use moving averages (MA) for?
– To see the average price over a period.
17. When might a trader use a stop limit order to sell?
– To minimize losses when prices drop below a critical level.
18. How can stop limit orders assist in volatile markets?
– By automating trades with precise conditions.
19. What is the first step to create a stop limit order?
– Select “Stop Limit” as your order type.
20. How can a stop limit order help a buyer?
– By ensuring they don’t pay more than their desired price range.
21. What does a stop limit order combine?
– A stop price and a limit price.
22. What is one key benefit of stop limit orders?
– They give traders more control over execution.
23. What do support levels represent in technical analysis?
– Where prices tend to stop falling.
24. When is it a good idea to use a stop limit order?
– To protect profits or minimize losses.
25. What is a common mistake when using stop limit orders?
– Forgetting to adjust them for changing market conditions.
Open CEX IO Bot: https://t.me/cexio_tap_bot?start=1726737471260929
#CEXQuiz #CEXIOQuiz
1. Which type of chart is most popular among traders for detailed price action?
– Candlestick chart.
2. Why should traders practice on demo accounts?
– To learn without risking real money.
3. What is an uptrend characterized by?
– Higher highs and higher lows.
4. What’s the first step in starting with technical analysis?
– Learning to read charts and identify trends.
5. What does technical analysis aim to predict?
– Future price movements.
6. What is the primary focus of technical analysis?
– Historical price data and patterns.
7. What is the purpose of the Relative Strength Index (RSI)?
– To measure momentum.
8. What is a common mistake when using technical analysis?
– Overloading with too many indicators.
9. Which trend is defined by prices staying within a range?
– Sideways trend.
10. What does the limit price do in a stop limit order?
– Ensures the trade executes within a specified price range.
11. What should traders avoid when setting stop and limit prices?
– Placing them too close together.
12. What is the purpose of a stop price in a stop limit order?
– To trigger the order when the price reaches a certain level.
13. What happens if the market price doesn’t reach the stop price?
– The stop limit order will not activate.
14. What is a common mistake when using stop limit orders?
– Setting a limit price higher than the stop price.
15. What does a resistance level indicate?
– Where prices tend to stop rising.
16. What do traders use moving averages (MA) for?
– To see the average price over a period.
17. When might a trader use a stop limit order to sell?
– To minimize losses when prices drop below a critical level.
18. How can stop limit orders assist in volatile markets?
– By automating trades with precise conditions.
19. What is the first step to create a stop limit order?
– Select “Stop Limit” as your order type.
20. How can a stop limit order help a buyer?
– By ensuring they don’t pay more than their desired price range.
21. What does a stop limit order combine?
– A stop price and a limit price.
22. What is one key benefit of stop limit orders?
– They give traders more control over execution.
23. What do support levels represent in technical analysis?
– Where prices tend to stop falling.
24. When is it a good idea to use a stop limit order?
– To protect profits or minimize losses.
25. What is a common mistake when using stop limit orders?
– Forgetting to adjust them for changing market conditions.
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