Forex Foundations
Practice worksheet
Review draft · Fictional classroom examples · No live trading instructions
Name or initials: ____________________ Date: ____________________
1. Read the quote
Fictional EUR/USD bid 1.1000; ask 1.1003. For this exercise, one pip = 0.0001.
Base currency: __________ Quote currency: __________
Spread in price units and pips; show your working:
2. Read the candle
| Price | Candle A | Candle B |
|---|---|---|
| Open | 1.1000 | 1.1020 |
| High | 1.1030 | 1.1040 |
| Low | 1.0990 | 1.0980 |
| Close | 1.1020 | 1.0990 |
For candle B, calculate body, upper wick, lower wick, and full range:
What do these values leave unknown about the sequence inside the candle?
3. Include the costs
Fictional gross results: +$12, −$15, +$8, −$10, +$5. Additional cost: $1 per trade.
Gross total: __________ Costs: __________ Net total: __________
Explain why a positive win rate does not guarantee a positive net total:
4. Check an AI claim
An AI answer says: “Because the candle closed above its open, its next close will be higher.” What part is observed, and what part is unsupported?
What would you ask the AI to correct?
5. Before considering any service
Record facts that need clarification, rather than guessing.
| Question | Answer or source to check |
|---|---|
| What instrument and contract are involved? | ________________________ |
| Who provides the service and what is their role? | ________________________ |
| What costs, renewal and cancellation terms apply? | ________________________ |
| What broker or referral relationships exist? | ________________________ |
| What evidence supports any performance claim? | ________________________ |
Completing this worksheet does not establish suitability for trading or validate a provider. Use lessons 1, 3, 6 and 7 for worked explanations.
Answer reference
1. Base EUR; quote USD. Spread 0.0003 = 3 pips.
2. Body 0.0030; upper wick 0.0020; lower wick 0.0010; range 0.0060. High/low order remains unknown.
3. Gross $0; costs $5; net −$5. The size of wins and losses, plus costs, matters alongside win frequency.
4. Close above open is the stated observation. The next close is not established. Ask AI to separate the observation from its prediction and remove the unsupported conclusion.
5. Answers depend on verified provider documents; unknowns should remain marked unknown.