While developing your Forex trading strategy remains essential to your long-term success, everyone who has completed this task knows the importance of back testing. It can take years to properly do so, depending on how much time you have to invest in the project. With Forex Tester 4, you will receive an excellent Forex back testing software that allows you to expedite the process and complete it in a matter of weeks or months.
Forex Tester Review
The cost savings, together with less human capital invested, remains a factor to consider when evaluating Forex Tester 4. While there is no Forex back testing software free offer, you may download a time-limited free trial. Forex Tester also hosts frequent discounts on its packages, including data feeds, which adds to the value of the product. Many new retail trades and those who prefer to trade manually may dismiss the need for Forex testing software.
They can benefit from Forex Tester 4, as it allows testing of manual trading strategies. The fast-forward option will accumulate detailed trading statistics for the selected approach on the applied asset, allowing manual traders to analyze how the Forex trading strategy would have performed. It is similar to a video game for dedicated traders. With over 20, free and paid ones listed, many offer a limited free trial, often no more than fourteen days. With Forex Tester 4, you have plenty of opportunities to test the EA before committing to a purchase.
You can easily download the program as a limited trial from the Forex Tester website. When you go ahead and purchase it, you will receive a registration code to enter to fully unlock the software. You can manually manipulate the data and enter simulated trades, applying any technical studies that you want. Note how the bottom of the terminal screen shows the details of any open trades, while trading and account performance are tracked within the bottom right screen.
You can apply any kind of tools and drawings to the charts easily and save them. You can even save set-ups templates to be applied to other testing scenarios. Every function you can get from a real trading station such as changing stops or take profit levels, applying a trailing stop etc. The program comes with 1-minute historical data going back to If you want data for a wider range of instruments and at a higher quality, even down to the granularity of a single tick, this is available for an additional subscription fee.
The full version can also run expert advisers in. A really impressive new feature included within the latest version — Forex Tester 3 — allows back tests to be run on multiple strategies and multiple currency pairs simultaneously, speeding up back testing processes. You can easily analyze the results of tested strategies, whether they are manually traded or automated, as the program keeps a record of every trade and fluctuation in the hypothetical account equity. Finally, the Forex Tester website has full instructions and details for how to use the program in its different modes and is approachable to answer any questions you might have.
The software itself is easy to use and has the same kind of functionalities as trading stations, so if you have traded it will not be hard to use. If you have not traded, it will help you in learning how to use a trading station so you will be better prepared when you eventually start trading! Overall Forex Tester comes highly recommended as an invaluable tool that you will help you learn how to trade profitably without losing any money in the process.
Going ahead without buying this software could be likely to cause you to lose much more than this purchase price — and that is not something we say lightly. A Forex simulator differs from demo trading, as it allows you to go back in time to simulate how a strategy would have performed during past market conditions. A demo account enables traders and developers to forward-test a Forex trading strategy, but you cannot simulate it. You will have to wait for market movements to develop, monitor all aspects of your it, and invest a significant amount of time.
With a Forex simulator, you can go as far back as you have Forex historical data. You can apply your trading strategy and simulate a decade worth of trading in a matter of minutes, then digest the detailed report, and identify strengths and weaknesses.
Table of Contents
It offers new traders the opportunity to play around with different settings and receive actionable data, from where they can improve. Forex Tester4 adds tremendous educational value, and in combination with practical one, this Forex simulator ticks all boxes. With Big Data playing an ever-increasing role across all aspects of life, the quality of the data presents the most defining piece of it, as it can alter the outcome significantly.
Every Forex simulator requires Forex historical data. Forex Tester 4 offers a subscription-based three-tiered service for a quality Forex historical data download directly into the software. 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. I personally use Forex Tester and have upgraded to Forex Tester 3. It's been very useful to me, but it's not perfect.
START LEARNING FOREX TODAY!
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. Tickstory Lite is completely free and is what I use to download the data that I need. Note : 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. Keep in mind the longer your range the longer the download will take, and the larger the file size will be. If you're downloading years of history for many pairs, the file sizes can add up quickly.
For instance, tick data for only 1 year on the Euro was 2. That being said, you should only download the data that you actually need. Don't download 10 years of data if you're only going to test on the last year or two. Don't download tick data if you can get away with 1-minute data.
Forex Tester 4: How Backtesting Strategies Saved my Trading Career - Forex Seriously
On this same screen, you need to select the minimum timeframe of your data. Remember to only download the data that you need to keep your file sizes smaller. From this screen, you also need to select your broker's timezone. For instance, U. Lastly, you need to select your pre-defined output format. Use "Generic tick format comma delimited " if you're downloading tick data. Import ant : If you're exporting anything other than tick data, you must select "Generic tick format comma delimited " under "Output Format" to get the correct header and data format to populate the fields.
Now that you've exported your preferred data from Tickstory, you need to import it into Forex Tester 3. Select the symbol that you wish to add data to, but don't check the box next to it see the image below. Once you've highlighted your desired symbol, you need to select "Import from a file" and select the data file that you exported with Tickstory ex.
If you haven't already hit the "Clear history" button, on the next screen, you can select "Delete the previously imported history for this symbol Nothing else should be changed.
Don't use the time shift slider. You need to select the correct timezone as mentioned in one of the earlier steps to get accurate price data. Using the time shift slider is a cheap fix only. To finish the process, simply follow the wizard. Nothing else needs to change. In order to see your newly imported data, you must create a new project in Forex Tester 3 and add one or more of your updated symbols to your test list. Summary: Forex Tester 3 is a useful Forex trading simulator that gives traders the ability to thoroughly test any of their new trading systems or strategies in a relatively short amount of time.
Test multiple timeframes of the same symbol and multiple pairs at the same time and switch between them without losing your place or revealing future price history, all while your performance is automatically tracked. If you want to use high-quality data, the Forex Tester folks expect you to pay a monthly fee. Well, some people used VHands before trying FX tester, after that - no way.
Just try to play a little with it. First of all - you can run Vhands only inside poor MT strategy tester that means you can not test more then 1 currency pair at a time, while in FX tester you can test as many pairs and timeframes as you want simultaneously, also you can let it run tick by tick with regulated speed, stop and return back with restoring previous trades and much more. Hey, if you are interested in Forex testing and especially the best testing tool ever - Forex Tester 2 as it was mentioned above, check www.
So if you intend to buy it, just a reason to decide on short term!! It is really not my intention. I was penalized earlier. See my profile for the infraction! Thank you. AlexMatyushko May 24, , pm 9. Agreed with Dusktrader, but from my experience there is something about vhands… Well, some people used VHands before trying FX tester, after that - no way.