Updated: Jan 6
Lots of people who are struggling with their trading methods for a long time are looking for help on how they can start taking Forex trading as a serious business and quantify their results. To become the best trader you can be there is only one thing to do, and that is to backtest your trading strategy. There is no better way to do this than with Forex Tester, this software is just outstanding!
This review will be about Forex Tester 4. If you are looking for a realistic Forex trading simulator, Forex Tester 4 is a strong contender.
If you're already familiar with MetaTrader 4 you will be coping well with Forex Tester because the design is based on MetaTrader.
If you are a new Forex trader, you will very likely turn to MT4 when you want to transit to live trading. Using Forex Tester will help with a quick transition.
There are two main aims of using a trading simulator and that is to learn how to trade without risking to much money and to verify a trading edge with historical data.
Most simulators allow you to set your account balance and reset it when necessary. Forex Tester 4 goes a step further. It allows you to record deposits and withdrawals from the account as well. You can define spreads, lot size, and leverage for each pair. You can customize them exactly to your broker’s specifications.
Forex Tester supports Downloading tick-data for 16 currency pairs, Gold and Silver and goes back up to 19 years. It is an intuitive, easy-to-use software that allows traders to simulate Forex trading either manually or automatically.
The beauty of this product is that it allows you to test your skills at trading manually, instead of just running a test on trading formulas, although Forex Tester is programmable to conduct such tests using algorithms written in .dll files.
All Forex Tester users get lifetime support provided through:
Online Guides with Videos
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. You should certainly check out their forum to get a sense of the level of support they offer.
The Forex Tester team has been around since 2006 which indicates that this is a dedicated and trustworthy team.
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.
What you'll get
10 simple manual strategies in order to gain testing experience.
An EA to ensure you trade profitably without the need for technical analysis.
19 years of historical data pertaining to the most common currency pairs, gold and silver.
11-step plan to help you get the most on backtesting and get suggestions on how to succeed in the actual market in the future.
A table on money management and risk calculation which will help you avoid losing money.
Forex Tester 4 has 45 indicators. You will find the standard trading indicators, and exotic ones like Solar Wind and Polarized Fractal Efficiency and it also has tools for trading with Andrew’s Pitchfork and Elliot Wave.
Non-time-based charts like Range and Renko charts are also available, and you can start as many projects as you like, each with a different focus. Projects offer a convenient way to manage your backtests and practice sessions. You can click on a particular trade in your account history, and find your way to the same trade on the chart – a quick and intuitive link between trade records and their charts.
So do Chartify recommend FX Tester 4? Yes, we do!
To become a successful trader you'll need a good trading strategy and an edge in the market. There is no better way to get this than using a software like this. Chartify has made a deal for you! - You'll always get the best price on this product when following our link. Happy Trading!