Using Forex Tester 2 to Accelerate Your Learning Curve

 

Forex Tester 3 is a software that simulates trading in the forex market. It is designed for you to learn how to trade profitably and to create, test & refine your strategy for manual and automatic 4/5(5).

So far I haven't found anything similar that didn't require high monthly fees just to get in the door and try, or was so overly complex that you feel you need to be a programmer just to take your first step!

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Oct 14,  · I bought the Forex Tester 2 a few months ago for 85$ after asking the support for discount. The Software is really good and a must have for Forex Education. It have a lot of working indicators and you can ask someone in the forum of Forex Tester to program a individual indicator.

The advanced data feed includes historical data from various brokers. Forex Tester enables you to train and test with great flexibility. You even have the option to adjust strategy parameters on the fly without stopping the simulation!

You can test more than one EA at a time while observing what is happening during the simulation. Our program is the best solution available on the market, and this is no coincidence: We are traders ourselves, and we initially developed Forex Tester to develop our own trading.

Forex Tester is all about maximizing your profits by choosing and optimizing your strategies and saving time. One of many details surrounding the project is that it will boost your efficiency. Forex Tester uses project files in the following way: You can save your current session, load another one and then continue the first session later. You can also save color schemes, graphical instruments and indicators, and then add them to the next chart. This is especially useful if you are testing your strategy on multiple currencies and timeframes.

Forex Tester will most likely improve your net results by much more than what it costs. If you are serious about trading currencies, Forex Tester will become an integral part of your evolution as a trader, just as it has for so many others before. Many professionals use it on a daily basis to develop new strategies and adjust their proven methods to accommodate the changing market. Our accuracy and flexibility are unrivaled.

So, what makes a trader successful? In interviews, the best traders in history have unanimously emphasized the importance of backtesting. Backtesting means using the historical data of a capital market price movement records to determine how well a trading strategy would have worked in the past. While there is no guarantee, very often a strategy that performed well in recent months will continue to generate profits in the future. This enables you to test not one, but many strategies in addition to variations.

Automatic backtesting occurs in just a matter of minutes, or even seconds. Forex Tester does both. With Forex Tester, you can practice analyzing the charts and finding opportunities to trade without risking any real money. When you trade manually with real money, you are under stress. And yet, you still have to make quick decisions. This is something you can only do with sufficient experience. Our program is the quickest and most effective way to learn trading.

MT4 is one of the best and most popular platforms for live and demo trading. It does include a feature for backtesting, which was added as a result of user demand. To close the gap, we developed Forex Tester because we wanted a better alternative for ourselves.

Currency trading is one of the most complicated ways to make money. To succeed in the forex market, a trader needs to develop the following 3 branches:. If your forex training does not involve at least one of these important steps, you will definitely lose in the long term. Our trading simulator allows people to improve their knowledge and skills in all of these areas. In terms of evolution, human beings have not adapted to accommodate trading.

In other words, we have all been terrible traders from the very beginning because our DNA does not have the necessary features to go about it effectively. Even if you learned all the ins and outs of the market in theory, you will still not be ready to trade without a strong ability to control your mind and emotions. The only way to really handle this area is to use a forex simulator. Trade simulation is way of better than demo and real accounts.

With demo accounts, you will have to wait for ages to open a decent amount of trades. With our trading simulator, traders have the opportunity to be in an exciting atmosphere where they do not know how the market is going to move as is the case with a live account. At the same time, traders can determine that information immediately — a feature offered by neither demo accounts nor live accounts.

In short, our backtesting software will supply you with all the market analysis tools you need to tame your inconsistent nature. The abundance of trading strategies available on the Internet creates the false belief that you have everything you need.

However, if you try the appropriate forex trading simulator, you will immediately discover that this is a huge lie. The vast majority of these so-called profitable strategies that bloggers and pseudo-traders promote can give you a few profitable trades, but eventually they will create a significant drawdown in your deposit.

If you choose not to backtest the strategies of questionable sources, eventually you will lose all of the money you have saved for trading. Consequently, without a form of forex backtesting software, you will spend hundreds or even thousands of hours learning about the forex market without yielding any positive results.

Moreover, without Forex training software, you will end up frustrated and depressed. What normal people would want to spend their time, money and effort on this fruitless task? There are just 2 possibilities available for you now: Either choose the path of failure or buy what is probably the best trading simulator in existence and avoid losing anything. No one can guarantee that you will learn how to trade with our trading simulator, however.

It all depends on your work ethic, dedication and ability to analyze your learning methods and trading actions. It depends on whether you make the right decisions and stick with them. There are a lot of smart and disciplined traders who still cannot succeed in the forex market. The reason for this is that they lack an incredibly valuable pillar in their trading: They completely misunderstand the importance of money management.

Currency trading requires traders to follow strict rules regarding how much they can afford to lose on a single trade and how many trades they can lose per month. If you neglect these fixed rules, or if you do not pay enough attention to them, you will never take your trading to the professional level.

One can make amazing trading decisions, be fully in charge of his or her emotions and win most trades. But all of this success can be fruitless with a single trade that was opened where the trader did not stick to the basic principles of money management. Backtesting, however, allows traders to build their knowledge of these principles.

In short, forex training is impossible without forex software — especially without a trade simulator. Start sharpening your money management skills today with the help of Forex Tester 3, the best trading simulator one can find.

Effective learning about forex trading includes the opportunity to correct your mistakes. Most traders do not understand that it is practically impossible to learn forex by using demo and live accounts. Demo accounts give you a chance to learn forex trading if you have dozens of years ahead of you, and live accounts make it impossible for you to fix your mistakes.

You have already lost the trade or range of trades , and the forex analysis will help you avoid making the same mistakes in future, but you simply cannot change the past. Forex simulators, in turn, can take you back in time so you can truly correct your mistakes immediately — you can backtest your strategy as many times as you need. This amazing forex training software will help you fix your mistakes without affecting your real money.

Our trade simulator has plenty of built-in parameters to evaluate your trading performance. With Forex Tester backtesting software, there is no need to simulate the market in the dark. Now, all the necessary components are included. You can read detailed instructions on how to install Forex Tester here. If you are not satisfied with our Forex Tester software which is very rarely the case , it is easy to uninstall it by completing the following process: Download our software now and see for yourself what Forex Tester can do for your success in this exciting business!

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.

Software that copies trades between MT4 and MT5 terminals provided by any broker and vice versa. The Remote version includes: MT5 terminals support; secure protocol for increased safety and more Software to copy trades between MT4 accounts.

We'll help you become intelligent Money Managers and gain you entry into the elite group that actually makes money trading Forex. Software that opens trades in a fraction of a second with a built-in risk management calculator. Compatible with Forex Tester and MT4. Forex Tester is a software that simulates trading in the forex market.

It is designed for you to learn how to trade profitably, and to create, test and refine your strategy for manual and automatic trading. What I Don't Like. Forex Tester 3 is a Forex trading simulator that uses historical price data minute or tick to help you quickly and easily backtest a new trading system or technique.

Use stop losses and take profits, mimic your broker's spread, and alter other rules to mimic your live account as well. Forex Tester 3 automatically tracks your performance, which can be analysed in detail.

This software allows you to take hundreds of trades in a matter of hours or minutes depending on the requirements of the system or technique. I originally bought Forex Tester 2 early in I found it to be pretty useful for backtesting certain strategies, so I quickly partnered with the folks at Forex Tester to get you guys the lowest price possible on their software.

In this Forex Tester 3 review, I'm going to try to answer that question. The new version of Forex Tester sports improvements in ease of use and functionality, while refining the functionality that Forex Tester users have come to love. Below are some of the most important features in my opinion, and their advantages over backtesting in MT4. If you're backtesting in MT4 and you need to switch time frames for any reason, you will lose your place.

At the very least you will inadvertently reveal future price action. With the Forex Tester software, you can switch time frames as much as you like. Just like live trading, new price action will not even be available to see until time passes. Since you can pause time or move forward one candlestick at a time, you will not loose your place when switching time frames.

This can be very useful if you're testing a trading system that makes use of multiple time frames or you simply want to take a look to see if a particular support level holds up on a higher time frame. You can also use multiple time frames of the same currency pair at once, without losing your place for revealing price history. This is helpful for testing systems like Top Dog Trading , which utilizes multiple time frames to measure fractal energy.

When backtesting in MT4, you can test multiple currency pairs together. However, you must go to each pair and manually move each pair forward by the same amount of time with the F12 key. This is a great feature for testing a trading system like Day Trading Forex Live because with that system, for instance, you wouldn't buy the Pound and sell the Euro at the same time. With systems such as this, it's helpful to test correlating pairs together.

If you're backtesting in MT4, you will need to manually keep track of your performance by writing down your important numbers on a notepad, in a spreadsheet, or in your trading journal.

Forex Tester automatically tracks your performance, like a live or demo account. In Forex Tester 3, your balance, equity, margin, and drawdown can even be displayed as a candlestick chart. Using a trading journal still offers some advantages, although it's more time consuming.

For instance, Forex Tester does not automatically track and display which time frames your strategy performed best on or which strategies in your overall system performed best. One of the most important improvements that I noticed in my Forex Tester 3 review was some added on-the-chart trading functionality. For instance, you can now drag your stop loss and take profit levels from the chart to adjust them. However, unlike MT4, you still cannot create your trade levels from the chart.

Renko charts were added this time around. Forex Tester 3 now supports lines, bars, candlesticks, range bars, and Renko charts. There are definitely some advantages that Forex Tester 3 provides over backtesting in MetaTrader 4, Ninja Trader, etc. It can save you a lot of time in various ways, including tracking your performance automatically.

Because it uses realistic broker rules, it can also help you get a lot of trading experience quickly. Whether or not Forex Tester 3 is right for you, in my opinion, comes down to how important saving time is to you and whether or not you use many custom indicators or EAs.

It's been very useful to me, but it's not perfect. In this Forex Tester 3 review, I've told you what I personally like and don't like about it. Now that you know what I think about it, take a look at what some other traders are saying about it. In order to get free high-quality data for Forex Tester 3, you need to download Tickstory. It's no longer possible to import 3rd-party tick data into Forex Tester. If you need high-quality tick data, you must subscribe to the VIP data plan.

After installing Tickstory, open the program and right click on the symbol pair that you'd like to get data for.

Select "Export to file Next, you need to select a range for Tickstory to download for you.