Hi Guys,
Many people (including myself) have manual trading strategies. And we need to test these strategies, make sure that they work, improve them or (shit happens) discover that the strategies do not work. If we use forward testing and check our strategies on the real market then it can take ages to prove them because we will have to wait for days, weeks, months or even years. So the solution is backtesting, but... what tools should we use for backtesting manual trading strategies? there are a plenty of tools for backtesting EAs but there is "a gap" in backtesting manual trading strategies, there are only a few tools which can really help with manual backtesting.
And today I want to tell you about my favorite backtesting tool - Forex Tester. This magical program allows you to trade on historical data like you trade on live market data, so you can:
- see how the price changes
- will be able to open different charts with different timeframes and currency pairs and all these charts will be synchronized
- you can draw on charts
- apply indicators
- execute scripts
- and actually do everything which you can do on live market
The only difference between using Forex Tester and live trading is that you can control the time (speed up time, slow it down, rewind time, etc...)
So the program actually gives you the ability to test your manual trading strategy in a fast and convenient way.
After the test you will get detailed statistics about your strategy which will help you to analyze and improve it.
Please review the table below, it shows the differences between Forex Tester and live Demo account:
http://www.forexcopier.com/Files/Images/FTvsDemo.jpg
I hope that this information will be helpful for people who need to check their manual trading strategies.
You can download Fores Tester here:
Official Forex Tester site
Many people (including myself) have manual trading strategies. And we need to test these strategies, make sure that they work, improve them or (shit happens) discover that the strategies do not work. If we use forward testing and check our strategies on the real market then it can take ages to prove them because we will have to wait for days, weeks, months or even years. So the solution is backtesting, but... what tools should we use for backtesting manual trading strategies? there are a plenty of tools for backtesting EAs but there is "a gap" in backtesting manual trading strategies, there are only a few tools which can really help with manual backtesting.
And today I want to tell you about my favorite backtesting tool - Forex Tester. This magical program allows you to trade on historical data like you trade on live market data, so you can:
- see how the price changes
- will be able to open different charts with different timeframes and currency pairs and all these charts will be synchronized
- you can draw on charts
- apply indicators
- execute scripts
- and actually do everything which you can do on live market
The only difference between using Forex Tester and live trading is that you can control the time (speed up time, slow it down, rewind time, etc...)
So the program actually gives you the ability to test your manual trading strategy in a fast and convenient way.
After the test you will get detailed statistics about your strategy which will help you to analyze and improve it.
Please review the table below, it shows the differences between Forex Tester and live Demo account:
http://www.forexcopier.com/Files/Images/FTvsDemo.jpg
I hope that this information will be helpful for people who need to check their manual trading strategies.
You can download Fores Tester here:
Official Forex Tester site