In this post I will be reviewing the Forex Tester. Forex Tester is forex trading software that simulates trading in the Forex market, which will allow you to learn how to trade whilst also being able to create, test and refine your trading strategies for manual and automated forex trading.
The king in this field in my opinion is Birts Tick Data Suite which allows you to back test forex robots with real tick data, real spreads, real commission and even real slippage. However, with Birts TDS, you cannot back test manual forex trading strategies like you can with Forex Tester which is what makes it an excellent forex product in its own right.
Instead of waiting hours even days for practising your forex trading system in real time, you can run historical data and trade as if it was in real time. You can slow down and speed up historical data thus with the Forex Tester software you can master your trading strategy much quicker than you may be able to without it.
Of course, simulating results will take away the emotions involved when trading for real (fear, greed, impatience, etc) but it can certainly help you to practice trading your forex system. Using Forex Tester you can even develop your own trading strategies and use the software to test how they would have performed historically.
Forex Tester Features
Primarily, Forex Tester enables you to learn how to trade, and to create, test and refine your strategy for manual and automatic trading. Forex Tester includes over 18 years of historical data and multiple manual and automated forex trading strategies to get you started.
Forex Tester simulates the forex market with unparalleled realism according to the developer. In manual testing mode, you can test your forex strategies and train your trading skills on (simulated) years of data in just a few hours (real time). What would take you years to learn you could do within days!
Forex Tester includes a vast array of features from money management to combining strategies, some of the main features of Forex Tester are:
- Test and improve your trading strategy.
- Gain confidence in your forex trading strategy so that you can keep your motions in check and act immediately on trading opportunities in real time whilst avoiding mistakes when you trade live after much practice.
- Become a more experienced trader by utilising a ton of historically data that presents you with many different market conditions to test the strength of your strategy and your trading skills to implement it.
Forex Tester Summary
Forex Tester is an excellent forex trading tool for mainly practising your manual forex strategies on historical data in your own time. You run the historical data, add your indicators (or even trade naked if you prefer – without indicators not literally!) then enter and exit trades as if you were trading for real.
If you have a forex trading system in mind that you would like to test and practice with over years of data or if you want to find a new forex trading system, then Forex Tester could be very useful to you.
It comes with updates, support, instruction manual / videos and a money back guarantee.