Also, Forex Tester helped me to dismiss a good deal of hopeless strategies and to improve my working ones. That being said, you should only download the data that you actually need. Learn how your comment data is processed.
What's New in Forex Tester 3?
You must clearly understand this: Information contained here and in the signal service is not an invitation to trade any specific investments.
Trading requires risking money in pursuit of future gain. That is your decision. Do not risk any money you cannot afford to lose. This document does not take into account your own individual financial and personal circumstances.
It is intended for educational purposes only and NOT as individual investment advice. The replays happen within a MetaTrader 4 chart, so all of your indicators and templates can be used, ensuring that your practicing is as close to the real thing as possible.
Does the software come with training? If you are dissatisfied with the product for any reason, you can request a refund for up to 60 days past the purchase price.
Once a refund has been processed, you will no longer be able to use the software the license will be disabled. You will have a contact method for our customer support line in your members area — this will allow you to submit any questions, comments, etc. Support for Simple Forex Tester will always be free, as long as you are an owner.
Is the installation and setup difficult? Simply run the installer, which will search your computer for MetaTrader 4 installations, and will give you a list to check which ones to install Simple Forex Tester to. The installer makes it very easy, but if you have any problems at all, our support team will be there to help you get up and running as fast as possible.
How many MetaTrader 4 platforms can I install and use the software on? You can install Simple Forex Tester on as many MetaTrader 4 installations as you wish on up to 3 computers.
Does Simple Forex Tester place trades for me? No, Simple Forex Tester does not place trades for you. It utilizes Strategy Tester inside of MetaTrader 4 to allow you to practice your manual trading and manual systems on historical data. Is there anything else to buy? Download Our Free App. Trial Our Premium Membership. Government Required Disclaimer - Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors.
The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange, you should carefully consider your investment objectives, level of experience, and risk appetite. 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.