|Unsystematic trading||No trading simulator involved||Insufficient data range||Lack of discipline|
|If you do not have a clear algorithm, then it will be impossible to understand which activities generate income and which systematically destroy your deposit||Not having tested your trading system on a trade simulator, you put your balance at a huge risk||If you backtest the strategy on just a few months of data, you will receive inadequate results||Having a clear algorithm, which provided you with good results on the historical data, many stubbornly continue to trade on a whim rather than on a predetermined plan|
1. Take any strategy from:
2. Test the strategy on a significant amount of data in Forex Tester
3. Determine the risks and potential profits from your trading system
4. Trade on a demo account during the next 2 months
Download the template, fill it out and use as a trading algorithmTrading algorithm template
Use the Forex Tester simulator trade in order to estimate the potential of your trading system.
If you have any questions related to the software usage then please read our instructions in the "How to use" section. We recommend starting with the http://www.forextester.com/quickstart page, which explains all the key points associated with testing.
You can also contact the Forex Tester technical support by sending an email from this page: http://www.forextester.com/contacts or by writing your question directly to our chat window.
To test your strategy on more than 1 month of historical data one needs to purchase a Forex Tester’s license.
In order to achieve your goal, it is highly important to write down all the actions that were either taken or not. It will help to face the facts and not the assumptions. Sharing your goal and actions with the people whose opinion matters for you (the ones in Facebook, Twitter, Forex Tester’s forum friends and so on) will definitely increase your success rate and will not let you to give up.Report template
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.
Software to copy trades between MT4 accounts. Supports all brokers, has plenty of features such as Lot/Risk Management, Filtering trades and Reverse Trading, Lifetime Support.