14 years of experience along with 50,000 customers who have entirely changed their approach to Forex trading allow us to state the fact that Forex Tester is the best Forex analysis software when it comes to backtesting your strategies. Finding what works and what does not work on the currency market never was so simple.
Back testing software without data is like a car without fuel. That is why we suggest you to download completely free data of a medium-quality right from your Forex Tester. However, if you are looking for high-quality data or even tick data, you can buy it for some additional, yet reasonable, price.
Great strategy’s performance on one currency pair does not necessarily guarantee success on another one. Time is precious and you do not need to wait until the software finishes testing your strategy on EURUSD before you go for GBPUSD. Test your trading system on as many symbols as you wish. The amount of simultaneous testing charts is limited with your computer possibilities only.
Selecting a proper time frame might be difficult for a trader, especially a novice one. Since you purchase Forex Tester, you do not need to put on trust someone else’s assumptions – test your system on all time frames possible (including the custom time frames like M3, H2, H8 and alike) and make your choice of which time frame to choose basing your conclusion on testing results. To save your time even more, feel free to test the strategy on many time frames at the time. At the end of the testing, just pick that time frame that gave you the maximum profit.
If you purchase Forex Tester, you spend just $
149.00. Then divide this amount per your
hourly rate (let’s say, it is $20 per hour). It means that with the lowest hourly rate you will need to work for 7
hours in order to earn for the software’s license.
Now imagine how much time and efforts it will save to you. It usually takes years to become a profitable trader. You can spend 3 years * 365 days * 1 hour a day = 1,095 hours to succeed on Forex using a demo account or 7 (to work for software) + 200 (to find out the strategy that performs great) = 207 hours if you use our program.
Certainly, these calculations are too approximate; however, they give a clear vision of how Forex Tester will save your time and money. Add to your time spending all that money that you will lose on a real account while learning – those hundreds or even thousands of dollars cannot be compared to $149.00 that you need to spend just once in your life.
As you probably know, brokers make money when you lose them. Here, in Forex Tester, we are highly interested in your success – the more you learn while backtesting, the more you earn on a live account. Moreover, the more you earn, the more you will suggest our software to your friends. It is a win-win situation for both parties.
Once the strategy is tested, a trader needs to estimate its performance. The built-in statistics will automatically display various indications of the tested method so you could understand if this strategy is worth incorporating into your live trading. This statistics can be also used for getting insights on how to improve your strategy.
Historical News
In the new version of Forex Tester, we have added a historical news service for those traders who use fundamental analysis as an additional source of information for their predictions in order to bring the test results as close as possible to reality.
At the bottom of the graph you can find news presented in the form of flags of the countries to which they belong. The economic calendar is presented in the form of an additional tab.
Visual Strategy Builder
We have created such a product as Visual Strategy Builder so every trader, regardless of the level of programming skills, can create advisors for testing or trading.
Now you do not need to be a programmer to create an advisor! Seriously, now you can create Expert Advisors by dragging and dropping with the help of Visual Strategy Builder.
Risk calculation
Probably every trader knows the “Two Percent Rule” with its variations - one of the golden rules of money management - according to which you should not risk more than two percent of your account.
Thanks to this function, you can not bother with calculations: now you have two options - specify the value of the lot manually or use the risk management function. In the second case, Forex Tester 4 will calculate the value of the lot for you.
Every trader should have the choice which trading instrument to choose.
No one should be limited by most common currencies only. There are a lot of traders who want to trade majors and most popular crosses. But there are also plenty of people who want to trade the currencies of their countries. Others desire to learn how to trade very rare currency pairs, popular stocks, indexes and commodities.
Forex Tester’s paid services allow you to get all of 818 symbols (instead of 18 symbols of the Basic (Forexite free data) subscription type).Why to go for less when you can get more with some decent payment? Trade gold, Dow Jones Industrial Index and Russian Ruble; make use of silver, IBM stocks, Honk Kong dollar and S&P 500.
Solution: Every dollar you spend on your education will be multiplied afterwards. Never refuse to invest into your knowledge and skills!
You will be able to renew your data feed every single day during the next year. Most professional traders claim that the latest data are the most important. That is why testing on the latest historical rates create the biggest proof whether your trading system is capable of bringing profits or not.
Analogy. In an exponential moving average, the latest price has twice-bigger impact compared to the previous ones. The same principle can be applied to the data: test your strategy on many years of historical rates and consider caring more about the results of the last year.
5-digit data allows getting the most accurate back
testing results especially when it comes to the short-term and scalping strategies.
If you put to use small stop loss and take profit values, if you open dozens of trades every single day, then the 5-digit data is an obligatory element of your backtesting.
Forex tick data shows the real non-simplified market conditions. If the price has been changing for 45 times during the current candlestick then you need to see all those changes. 1-min data will only show 4 prices to you: open, high, low and close.
Example: imagine that you are using a short-term strategy or a scalping strategy. You use free Forex data feed that provides you with just 4 prices on each 1-min candlestick. For long-term strategies this option is sufficient, but what if your trade lasts for less than one minute? Most of the scalpers close their orders in 20-30 seconds and each tick is incredibly important for the final result. With Forex tick data you will also get that specific feeling as if you are trading online. This is a crucial factor in your psychological growth as a trader.
Solution: buy historical tick data and trade as on a real market.
Forex tick data shows the real non-simplified market conditions. If the price has been changing for 45 times during the current candlestick then you need to see all those changes. 1-min data will only show 4 prices to you: open, high, low and close.
Example: imagine that you are using a short-term strategy or a scalping strategy. You use free Forex data feed that provides you with just 4 prices on each 1-min candlestick. For long-term strategies this option is sufficient, but what if your trade lasts for less than one minute? Most of the scalpers close their orders in 20-30 seconds and each tick is incredibly important for the final result. With Forex tick data you will also get that specific feeling as if you are trading online. This is a crucial factor in your psychological growth as a trader.
Solution: buy historical tick data and trade as on a real market.
Not only the price and volumes change on the Forex market. The spread tends to be different depending on the different circumstances on the market. Before and especially during big news spread can become altered significantly. You might learn the simplified version of Forex, then go to a real market and find out that your version has nothing to deal with reality.
Solution: purchase the high-qualitative historical financial data and get used to the real conditions from the start.
Not only the price and volumes change on the Forex market. The spread tends to be different depending on the different circumstances on the market. Before and especially during big news spread can become altered significantly. You might learn the simplified version of Forex, then go to a real market and find out that your version has nothing to deal with reality.
Solution: purchase the high-qualitative historical financial data and get used to the real conditions from the start.
We have improved our Historical Data Service!
In the previous versions (FT2/FT3) we had 118 symbols in the paid historical data services. In Forex Tester 4 we included more than 900 symbols to the historical data packages, improved the data quality significantly. Moreover, the innovation of the new version is the Historical news service.
Learn more about the advantages of the renewed historical data service.
Best Forex tool for backtesting ever
