In this post I will be reviewing the Simple Forex Tester which is a trading tool that allows you to rewind history in the MetaTrader 4 trading platform and historically trade your manual trading system. It is a great way to practice using a system and is very easy to use. In this Simple Forex Tester Review, I will be taking a closer look at this forex trading tool to see exactly what it is and how it works. Hopefully, this will help you to make a decision if it is something that you would like to implement as part of your daily trading routine.
Simple Forex Tester Features
The main feature of the Simple Forex Tester is the fact that you can manually trade over 10+ years of historical data on multiple currency pairs and time frames. Choose your pair and time frame then hit start and begin trading your chosen system including indicators if you wish, simply add them to the chart! This really gives you everything you need to practice your manual trading strategies over historical data of any trading instrument and chart timeframe that is available in your MT4 platform.
The Simple Forex Tester will record all trade data and allow you to enter trades, place stop losses and take profits, exit trades and much more. It is a great way to see how a system would have performed. Of course, trader’s emotions may well be different when trading the system live so please take that into consideration. It is also a great tool for improving your trading skills, after all, practice makes perfect!
Training videos are included but in a nutshell you simply fire up the Simple Forex Tester then rewind, play and pause history whilst placing trades where you wish. You can place the indicators on the chart so it is a great way to test how a trading system idea you have would have worked historically.
Some of the most important Simple Forex Tester features include:
Increase Your Skill
No matter what skill level you possess, Simple Forex Tester will allow you to leverage the most powerful Forex trading platform in the world to practice your systems and your trading, without risking any funds.
The Power To Rewind Time
Simple Forex Tester unlocks an important feature in MetaTrader 4 which allows you to “rewind” the markets and practice your trading and systems. Simulate your manual trading at any point in history on any currency pair you wish, and practice your trading without risking anything.
Simple Forex Tester comes with a full and complete set of educational videos, recorded by the software creator. These videos will guide you through every aspect of Simple Forex Tester, step by step to ensure you can get the absolute most out of your testing efforts.
How does the Simple Forex Tester Work?
MetaTrader 4 has had a feature for quite some time built into it’s platform called Strategy Tester. This feature provides a method of running your automated systems on historical data to determine their past performance (which is absolutely crucial when developing an automated system).
The problem with Strategy Tester is that it only allows running tests in history on automated systems. What good does that do for the rest of the traders in the world who aren’t programmers, or are manual traders with manual trading systems that can only be run in visual backtests.
Simple Forex Tester is a genius piece of software that “hooks” into this powerful Strategy Tester feature, and allows you to manually place trades on historical data. For those traders who like to trade manually, or have a system they want to test, this gives them that ability. You can now quickly and easily run historical and accurate tick for tick tests on virtually any currency pair, time frame, and use all of your indicators just as if it were live.
In order to use the Simple Forex Tester software, you will need a trading account with a forex broker. With so many forex brokers to choose from nowadays, it can seem very difficult to find a suitable option. If you are new to forex trading online and looking for some inspiration, please feel free to browse my best forex brokers for some inspiration along the way.
The programmer of the software has personally created a full step by step video collection, walking through every step you’ll need to take in order to begin testing. Even if you don’t have MetaTrader 4 installed (or don’t know what that is), that’s OK. From the very beginning, you’ll be guided through the process of creating what is basically the ultimate Forex testing platform, and how to use it to improve your trading skills quickly.
Simple Forex Tester Summary
Overall, I think that the Simple Forex Tester is a superb tool for what it does. It is one of the most user friendly and simple to use manual forex trading strategy testers. If you have been using a manual trading system recently and “paper trading” it then this tool will make the process much more enjoyable. Speed up and slow down charts as you wish, now only if it would allow us to fast forward into the future! The installer makes the setup process very easy, but if you have any problems at all, the support team will be there to help you get up and running as fast as possible.
If you have an idea for a trading strategy that you want to test, this can be a very useful tool. It is a great way to practice your trading strategies but of course nothing can compare to trading in a real live trading environment where human emotions are involved that can have a big impact on trading. That being said, if you are a manual forex trader and looking to master your skills and learn more in a simulated environment, I think Simple Forex Tester will certainly do the job for you, and more.
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.