Forex Tester ( review )
Forex Tester [ vs ] Demo Account
we hope that our review be useful for you to decide if you still love working on demo account or not !!
I have been looking for a way to back test the various trading strategies I have been developing and those offered by so-called Forex gurus. The problem with using NInja Trader, Meta Trader or eSignal to back test is that, you need to learn a programming language related to the particular platform in question to properly back test. Unfortunately, I have no ability or desire to learn a programming language. Instead I discovered Forex Tester 2 (FT2), a Forex trading simulator.
I have been using FT2 for the past few months and it does work as promised on their website. I have been back testing the strategies I have been developing and to improve my tactile trading skills through trade simulations.
The basic software comes with 10 years price history at 1 minute intervals or the VIP subscription pack provides access to the tick and 1 minutes price history from a selection of brokers.
The best thing about the software is that I have been able to test various EAs, signal services and strategies from various so-called gurus to see if they work. You can assume after testing all of them that in the in the long run they are not profitably. So I have gone ahead to develop my own trading system and tweaking it with FT2.
If you are serious in succeeding as a Forex Trader, then unless you know how to code your trading platform or charting package to perform back testing, you need FT2 or some similar product to test whether a strategy works or not.
I have saved thousands of dollars by testing various strategies and finding they do not work.I rather find out if a particular strategy is crap or not via back testing rather than on a live account.
The difference between a demo account and using Forex Tester 2 is that in FT2 you can move time back and forth with a click of a button. I have back tested weeks and months of various pairs in a day. You simply cannot do this in a demo account.
so It’s what we use to test our strategies and it’s also the best tool for practicing trading over the weekend when the market is closed. Once we’ve reached our daily target, we also switch over to the tester to satisfy our trading “itch”.
The only way you can get good at something is to practice. Trading is the same thing! We practice all the time using this amazing program. You can get through a year of back testing very quickly by advancing the speed and there’s no peeking ahead to see what happened, so your judgment isn’t at all influenced by looking forward.
It’s almost like real trading. Uses all time frames and currencies, with ten years of historical data available.
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