Test your strategy on several currencies and time frames at the same time. In Forex Tester you can open any number and combination of charts of various pairs and time frames. All charts are synchronized.
Most traders use more than one strategy in their trading. All these share the same account: As long as money is invested in open positions of strategy A, it is not available for opening a trade in strategy B or C. This represents yet another factor where software that was not designed for backtesting and deep Forex trading analysis produces unrealistic test results. When your trading in your live account relies on those results, you`ll have unexpected losses and can only scratch your head why that is. MT4 for instance can test one strategy at a time. Forex Tester in contrast can include multiple strategies for a truly realistic test in order for deep learning to trade Forex. All interactions between your strategies can now be simulated. Test results are a lot closer to what you will see in your real broker account. With Forex Tester, finding the most lucrative or stabile combination and priorities of your strategies can be achieved while staying in the save simulation environment.
Instead of spending months with a Demo Account, you can test your strategy within a few hours on historical data.
Let’s take a look at two ways to test your strategy:
Bill has a strategy which gives him several trading opportunities each day. As a typical trader he spent a couple of weeks on testing this strategy in a demo account. He has missed many trades because (a) he is not able to trade 24 hours a day and (b) he is human and makes mistakes sometimes. That is why his results are compromised and do not give the comprehensive picture of the Forex trading analysis. They can not tell him of how good the trading strategy really is because that would require that the strategy is performed without missed trades or late entries. Twenty or thirty randomly chosen trades are not enough to decide whether a strategy is trustworthy (remember that Bill –while going about his daily life– has missed many trades that qualified as setups according to his strategy). Needless to say that it is too early for him to go into the real market with this strategy. But Bill assumes that he knows everything he needs. Most likely Bill will lose a substantial part his deposit while finding out that his testing method produced a misleading result. That does not mean that he will understand why it didn`t work, so he will probably try again with the same method. Maybe you know people who have experienced that.
Conclusion: Testing in a demo account suggests reliability of your strategies that they don`t really have. For many traders this leads them to be confident in strategies that do not deserve this trust. But as they don`t know what the problem is (it did work in demo account testing), they continue to go through an emotional roller coaster ride with more losses than wins. A few months on a demo account are not enough for learning to trade Forex and find solid strategies.
John on the other hand has a strategy that allows him to enter the market once or twice a week. He understands that one should wait for trades that fit his strategy`s rules –instead of taking many trades that fit his strategy criteria only 60-90%. John knows that becoming a millionaire in 6 months is unrealistic as well as learning to trade
without putting any efforts, time or patience. He is not in a hurry. John decides to test his strategy in Forex Tester. He tested it on 15 years of accurate data and concluded that the strategy is good. He did not miss any trades as it often happens on a demo account. And John could test his strategy on weekends when he had enough time. It
easy to test the same strategy with little changes, to find the most profitable setting and get a feeling of which parameters have what kind of impact on the results by virtue of the most efficient Forex trading analysis software. His testing method produced a result that does not only look reliable, it IS reliable. It is based on several
trading opportunities, on historical market data with no gaps and following the strategy`s rules. This sounds like a lot of work, but actually all this took him only 2-3 weekends and his live trading results will most likely be a lot better than Bill`s.
After that John opened the real account and has been trading successfully since that time.
Conclusion: Confidence based on false assumptions („my strategy that I test-traded on lunch-breaks on that demo account worked, so I can use it live now“) are expensive. Why would anyone choose that method? First of all, if you don`t know that the test results you get with broker software are not realistic, why would you look for anything else? In addition, many people think doing anything „properly“ takes a lot of time. In reality, the opposite is the case with Forex Tester vs. demo accounts: With Forex Tester you are a lot faster. Of course, using the broker software that you already have is obvious, many people do it. But most of those people lose money. Do not rely on second-class-results. Test your strategy on a long period of data and save time doing it. Your confidence will then be built on a solid foundation of facts.
Forex Tester gives you an opportunity to test faster than any other software does. Save time and get much more solid results than before. Broker terminals are good for live trading but not for testing. Our software is specialized for testing and fills the gap.
Many traders would love to practice on weekends. With Forex Tester you will be able to make progress 7 days a week. If you are very dedicated to develop your trading and understanding of the market, then you no longer have to settle with the market limitations: Make use of the days when you are free from every day routine and try make learning to trade Forex more efficient.
Speed up preparations for your regular testing by optimizing the interface to your individual needs with templates.
Forex Tester allows testing Automatic Strategies (Expert Advisors)
Here`s some of the advantages:
If you`d like to create an automatic strategy but have no programming skills, don`t hesitate contacting us at firstname.lastname@example.org and we will help you to create an automatic strategy.
It is possible to test combined strategies (Manual + Automatic) in Forex Tester. For example: You enter trades manually and exit automatically or vice versa. This gives you the opportunity to creatively test different ideas before spending time and efforts on programming fully automatic strategies.
People who use live trading software (the programs you get from your broker) for backtesting often complain, that strategies perform great in the testing stage, but do not work at as well in live trading. There are various ideas as to why that is. Forex Tester has many advanced features that make tests very realistic (simulating with multiple strategy combinations, floating spread, etc.). With these advantages, Forex Tester plays in a another league compared to other programs. If you suspect test results to be compromised by a dishonest broker, then you can be certain that the results in Forex Tester provide you with objective information on the quality of your strategies because Forex Tester is independent of your broker account.
Try Forex Tester for free* and get an idea of how many hours it will save you each week while doing all Forex trading analysis groundwork instead of you. When you multiply these hours by your hourly rate, then you will get an idea of the value. The improvements in your broker account are not even taken into account at this point. Just take a look at your trading history and compare it to the tests in Forex Trader. We are confident to say that no matter where you are at the moment, you will get a lot more out of Forex Tester than you pay for it. Maybe your broker won`t like that, but everybody else (you and us) will be happy with the results. :) *100% free with modest feature limitations or 30 days testing with no feature limitations if you purchase and use the 30-day money-back-guarantee
The scroll bar allows you to set the simulation speed.
You can for instance set the speed to real time (as the real market). This will give you the most realistic online trading experience when simulating manual trading. Or you can speed up testing and pass a few years of data in a minute.
Test your strategies, pause and resume at any time you want. For example, you may start testing some strategy one day and finish it another day. Or you may pause your testing for the vacation period. Whatever your schedule is, with Forex Tester, you are in full control.
You can send your testing project to other Forex Tester owners. This is incredibly valuable if you have a trading-buddy or a mentor who can give you feedback. Otherwise you would have to make screenshots and explain things in an email.
You can move to the next bar on the chart by pressing “Space” key. This is useful if your strategy requires the current bar to be closed before the next action.
Professional sports teams review their games on video. This is called After Action Review (AAR) and is used in many professional fields. Forex Tester allows you to apply this excellent learning tool to your trading: Load trading history from MT4 into Forex Tester and watch yourself trading and making decisions in replay, so you can be sure you went through the deepest Forex trading analysis ever. Whatever you`d like to review: Your emotions or the time you need to manually open a trade in a hectic market –now you can. And again, your mentor or trading buddies can give you feedback. If you have lost money but don`t know what went wrong, maybe you`ll quickly see it in replay. You can only learn from mistakes, if you are aware of them. If you won, then capitalize on that by defining a strategy based on it.
Every trader probably makes his fair share of mistakes before learning to trade Forex like a professional. But isn’t it better to learn from your mistakes during backtesting, than during the live trading? Test, go back at any number of bars and go through again.
Don’t spend your time on searching for good Forex historical data. Within our Forex trading analysis software, we provide accurate data of the last 16 years in three subscription types:
Beginner - totally free 1-minute historical data from Forexite broker (updated monthly);
Standard - paid 1-minute historical data from 10 of the most popular brokers (includes ECN!, updated daily). You do not have to choose one of those brokers: You always get all within this package;
Premium - paid tick data from 10 of the most popular brokers (includes ECN!) with floating spread –perfect for Scalping, News-Trading, most realistic simulation (updated daily);
You have the choice of free data with solid quality (sufficient for many test scenarios); or a paid data service to get excellent historical market data from a variety of the most popular brokers –for backtesting without compromises.
|17 years of 1-minute data||To test your strategy
over a long period of time
|8 years of tick data||For getting the most precise information
possible and the most realistic feeling of live trading in the simulation
|118 most traded currency pairs||Trade the most volatile instruments outside of Forex in addition to currencies|
|S&P 500, NASDAQ,
Dow Jones Industrials
and 8 most popular stocks
|To have an alternative to Forex|
|Gold and silver||Try your strategy on the most
|11 brokers||for finding out which broker gives you the best results|
If you prefer to import data from your own source, then you can do that, too.
You can change:
Simulate depositing and withdrawing money.
Forex Tester is not limited to Forex. Whatever instrument you have data for (stocks, CFDs, you name it…), Forex Tester lets you simulate trading it. Here again, the total flexibility with the transaction costs comes in handy.
|16 currency pairs||Gold||Silver|
The entire user interface (icons, buttons, menus, tool tips, …) is arranged in a way that we hope makes understanding how to use Forex Tester as easy and intuitive as possible.
Forex Tester’s interface is very similar to MetaTrader 4. If you are an MT4 user then you will feel right at home with Forex Tester.
Likewise, everything you practice in Forex Tester will be directly applicable in live trading Forex with MetaTrader 4.
Make Forex Tester analyze all your profitable and losing trades, income, draw downs, average profit/loss, max drawdown, max profit/loss trade, the quantity of profit/loss trades in a row and many others stats that will be useful for your analysis.
The profit chart will help to see the biggest changes in balance, equity, margin and drawdowns. It is a great indicator for the strongest and weakest aspects of your trading.
Apply custom analysis of your trading history in Excel. This may allow you to understand strong and weak sides of your trading even better.
Forex Tester has many built-in indicators and oscillators, so you can test trading systems based on these. Additionally, you can create any custom indicator with the help of our API.
In Forex Tester you can use trend, horizontal, vertical and poly lines; all Fibonacci instruments such as retracements, extensions, fans, arcs and time zones. We also provide a unique and easy method of marking the waves on charts.
Use trailing stops to limit losses due to retracements without closing profitable positions too early.
Forex Tester allows you to train your skills on Japanese candle sticks, bars, range bars, lines, and custom charts like Heikin Ashi. All the charts (regardless of their type) are synchronized and can be used simultaneously.
Have all the necessary information about the bars and indicators in one place
Windows can be arranged in many different ways. Place them horizontally and get all the necessary information at a glance; tile them in a cascading style and switch easily between them with a click of the mouse. If you have many monitors, you can adjust the size of the program and then place charts on any monitor.
Set a group of market or pending orders and activate them with one mouse-click or by pressing the hotkey. This feature can be useful if your trading is based on news events for example.
16 languages are available for a better understanding of the Forex Tester’s interface. There are English, Russian, Spanish, German, Japanese, Hungarian, Polish, Indonesian, Portuguese, Dutch, Italian, Thai, Slovenian, Vietnamese, Turkish, Czech.
Now SL/TP levels can be set in several user friendly ways:
Keeping a diary with detailed explanations and screenshots for each trade is very valuable both for self-reflection and learning as well as for feedback or demonstrations with mentors, friends, students (if you are a teacher), and on forums.
Whenever you have a question about or problem with Forex Tester, our support team will help you. Contact us via online chat or email. Many answers to common questions can be found in the FAQ on the Forex Tester home page and the forum. Our goal is to make you get as much out of Forex Tester as possible.
Forex Tester is a software that simulates trading in the Forex market, so you can learn how to trade profitably, create, test and refine your strategy for manual and automatic trading.
Forex historical data is a must for back testing and trading. Forex data can be compared to fuel and software that uses this data is like an engine.
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