Forex Tester 3 is coming tomorrow... are you upgrading from Forex Tester 2?
I am an avid user of Forex Tester 2 and wondering if it is worth buying 3. I have found this video that recaps the new features of Forex Tester 3. Any info you have is appreciated. https://www.youtube.com/watch?v=IadNm_v3Au4
Hi all,I recently read in the book,Naked Forex, that you shouldn't backtest your strategies automated and then use them for manual backtesting and you should rather backtest manually or with manual software eg.Forex Tester and backtest automated and use the strategy automated.What are your opinions and also what are some good preferably free manual backtesting software?
I'm hoping someone here can sit me down, give me a slap, and tell me what to do next...! I have been trading Forex using EAs (both ones I've written and bought) with some small success for a number of years - although never with quite the success I convince myself I'm going to achieve (a familiar story, I'm sure). I have decided to take the leap and try to take discretionary trading seriously with the goal of (eventually) earning myself at least a decent second income - if not my primary one from the Forex markets. I have done plenty of research, reading, watched some very interesting Mark Douglas videos, etc. and I have a copy of Forex Tester so that I can get some serious practice in. It is here that I'm stuck. I know I need to be consistent in my trading, and to do that I need to make sure that I have a Strategy which will produce, over a period of time, a winning 'Edge'. I've read plenty of advice suggesting to "keep things simple" and to have a written set of rules to remove the subjectivity of each trade. And I fundamentally understand the basis of this advice. The conceptual problem I have with this, though, is that if I'm removing all subjectivity from my strategy, and I can clearly define the rules around when I take a trade... then why am I doing it myself?! If there's nothing subjective and it's all rules-based, I may as well write an EA! But - I know from bitter experience that this tends to yield only mediocre results. I'm not looking to 'get rich quick' - but I'm hoping that with training and experience I can out-perform an EA in the market. So - how do I go about putting together a strategy that allows me to introduce some subjectivity, but is still sufficiently repeatable?! What should my set of 'rules' look like... am I taking the word 'rule' too literally? Do I abandon the idea of written rules all together and just keep plugging away at ForexTester until I start making money consistently and not worry too much about a 'plan'?! If you got this far... thanks for reading - and thanks in advance for any advice you can give me!
Howdy folks, I've been lurking for a few days. So far this seems like a great forum. A little about me and trading in my late teens me and my father tried to trade commodities with no success. I gave up on that, in the early 2000's I tried to trade forex, but made every mistake in the book, over leveraging, over trading, seeking the holy grail. A lot of my problem us that I really want to work from home, I'm not materialistic and I don't need to be "rich". In 2012 me and my family took a huge financial blow and by 2015 we were in a homeless shelter. I got us out in 2016. At one point I was supporting 8 people make 15 bucks an hour. Rent ate half my pay. Anyhow, fast forward to know. The family is doing much better financially and I have decided to learn a new trade, namely medical billing and coding, that way I can provide for my family from home. After I made that decision it freed up a LOT of mental space in my head. I don't need to risk more than one or two % on any trade, I don't need to stress about when I'll be profitable, I won't have to worry that I can't pay rent. So, I'm starting over the way I should have started 20 years ago. I'm getting Forex tester, and going to start back testing a strategy. Namely the buy sell line strat that 60minuteman posted over on Forex Factory. I know what I want to do, I want to swing trade on the 1 and 4 hour charts. I'm going to take screen shots of my winners and losers and try to build up a library of trades to review. If I can find a method that nets me a positive expectancy I will graduate to micro lots, if I'm profitable I will slowly raise my position sizes, never exceeding 2% of my account. Any and all advice is welcome, especially any advice about swing trading or psychology. Thanks for reading. Royce.
Hello everyone, I'm kinda new to trading and I want to start doing backtesting but without spending money on Forex tester for now. Any good options for manual testing? I was thinking mt4 candle by candle and input values into a excel sheet, the problem here is how to build that excel sheet, what values to put it, and what calculations do I need to set everything up nicely and good. Is there any tester for mt4 free or something like that? Any help would be good. THANKS 😀
I've tested some systems in forex tester. The same system makes money in the 4H but in the 1H goes breakeven at best. It looks like there is a lot of noise in the charts under 4H. The daily charts could work better, but that is too slow for my preferences. Any experience like this?
Could you recommend a back testing software where the volume is included? I tried several free softwares like FXCM, Tradingview, etc but the volume is always a problem. I analyzed my trades using MT4 so it will be great if it is an interface similar to MT4. I am looking to buy Forex Tester but I don't know how I feel about buying Historical Data monthly. For those trading using volumes, what do you guys use? Thank you!
Can the simplest forex indicators make you a millionaire?
This was a question on Quora I have recently answered for and thought some of you here might find it useful. So I insert it here: ##### Do you want to be a millionaire trading Forex with indicators? Well, of course, you do...why would you post this question to Quora otherwise? The REAL question is – how do you do it? There are countless different technical indicators out there, so where do you start? Where do you focus your valuable time and money? Let's understand first what Forex indicators are. In essence, they are tools that turn the already available price data into something else. You've read it right. They don't provide any new information you couldn't get simply by looking at the chart. But there are still people who get amazing results with indicators. Have they invented a secret tool that actually moves the needle? I'm not Tyrion Lannister to tell this to you, but it's probably not the case. As far as I know, there tends to be one reason why somebody is crushing it with technical indicators while others don't. And it has nothing to do with the indicator or indicators being used. So what I am talking about? It's the personality of the trader that matters. Just think about it: Indicator-based trading is more objective than price action trading. You can argue about whether a chart pattern is present, but there's no argument about an indicator's direction. I really don't want to get into the age-old debate of which one is better because the answer varies from person to person. The point is that you have to find out which works for you. It's not a complicated process, although requires a lot of time. Can you guess what it is? I know you can, it's called testing. If I told you to start boxing because it works for Mike Tyson, chances are you would laugh at me. Then, in the same way, don't put money into random indicator just because somebody allegedly makes millions using it. That somebody might has a large trading capital, a perseverant attitude, years of experience and a system you will never able to follow because it goes against everything you are comfortable with. You have to test different indicators as well as price action techniques. By doing so, you will know which approach best suits you. Also, you will naturally figure out which of the specific indicators, chart patterns, candlestick patterns, etc., performed the best. You can use free tools like MetaTrader's strategy tester feature or TradingView's market replay. Also, you can invest in backtesting software such as ForexTester. #### Have a nice day!
Can you see all time frames on the basic Forex Tester 3 package?
I'm interested in buying the Forex Tester 3 software, but can't seem to find out if you can use time frames such as 15m and 5m on just the basic package. In other words, if you just have the basic package (not Standard or VIP) can you still view the 15m charts?
I'm looking for a really good Backtesting software. I heard alot of great things about forex tester 3 but it's a bit on the pricey side. I don't mind paying if it's actually worth the money. But I just want to get the forex community opinion on their favorite Backtesting software.
Hey guys! Wanted to know what y'all think of Forex Tester? Not many backtesting software I found and that seems like the best. Lastly, have anyone any experience using Tradingrex? That's an analytical software where you can input your data.
What's good, guys? Being a full-time trader has allowed me to spend a lot of time backtesting different systems across many pairs. This post will be the first of many where I share the results of backtesting, and hopefully we can all learn from it. I will be backtesting different systems across 24 pairs. The systems being backtested include: Cyphers Gartleys Bats Flags Support and Demand All systems/strategies will be backtested from 2010-2017 on the 30 minute chart, so you can understand how long 1 strategy will take on 1 pair. If you would like me to backtest something for this community, do let me know, and I'll add it into my schedule. For anyone wondering, I use Forex Tester 3 for backtesting purposes. All results will be recorded on Evernote. For example, below you will find the results of Cyphers on USDCAD from January 2010, up to May 2010 (still a long way to go). In the next few posts, in reply to this, I will explain the entry reasons for each system, risk management and results. http://www.evernote.com/l/AjE9mzbdfU1KbZz09ISa67pbkA29BWfzwdA/ As you can tell, I still have about 6.5 years of backtest left, but this system (Cyphers on USDCAD) is proving to be pretty decent, having a win percentage of 50%, however being 4% up for the year so far. Thanks, and will be looking forward to sharing results with you in the next few posts!
Im thinking of buying forex tester 3 within the next few weeks, just wondering how you guys have used it to improve your game? Were there specific areas you focused on? For me, the following are my priorities: 1. Practice better risk management 2. Improve win/lose trade ratio (2:1) 3. Improve win/lose amount ratio (2:1)
Hi, I'd like to kow what folk use for backtesting. Is there any good free online backtesters available? I downloaded a demo of Forex Tester 2 which was very impressive but at almost £200 for full application its a bit pricey for a begginer. What do others use? I dont need anything too complicated, will mostly be for FX.
Good day all! I am now at a point in my trading journey that i have found a strategy that i like, but now want to back test it. (i have already traded using the strategy but back testing gives confidence and piece of mind when you find yourself in a draw-down) Now, i have never back tested before and was hoping to be pointed into the right direction, i have heard of and looked into Forex Tester 3, but this is an automatic back testing system. I think doing it manually first is better? also, can someone explain the benefits of forward testing vs back testing? thanks!
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Forex Tester 2 Is The Preferred Trading Simulator Among ...
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