Forex Tester Product Review
Build and Test Systems & Strategies Easily!
You can of course test your skills in a demo account but you can only trade forward in real time life. Forex Tester allows you to do the same but allows you to back test any combination of standard indicators or ones you create yourself. So you can test and build your own Forex trading simply and easily, with an easy to use program which comes at a highly competitive price.
What the Software Does
Users are able to load historical data to allow the user to develop and test various trading strategies against historical data. You will be able to view and understand the pattern recognition and trading signals clearly and refine t. You can fast forward or rewind to test and retest. There is a built-in list of many indicators to choose from or you can create your own indicators using FOREX Tester API. FOREX Tester logs your history and you can use screen shots to further analyze your strategy and refine it further.
Using the Program is Easy.
You will see that there are two modes for the program – Edit Mode and Testing Mode. In edit mode you can edit your currency list, by adding new pairs or editing the four existing pairs, you then simply import your historical quotes. You need to get historical data and generate ticks before testing and this is easy and a number of free data sources can be used. Once your data is imported into the program, you go to the File menu, click Generate Ticks for Testing Mode and start to generate ticks.
Testing Your System
You can then begin testing various systems and strategies by using the testing mode.
The program will start processing the prepared tick data and the building bars. You are then able to engage in simulated buying or selling, placing pending orders with the ability to pause you’re testing, trace by bars or roll data back. Tracking your actions is made easy with the ability to paint different styled graphics elements to the charts and fasten the control points to bars on the graph.
Support
The makers of the system provide plenty of support via their site forum and also via email. You can ask them any questions you wish and have them answered quickly. We asked a lot of questions and were impressed with the level of support given by the vendors which is of course a major plus with any new package.
Pricing
At the site you are prompted to choose between the lite version and pro version of the software.
Software Cost
There are two versions available - The Lite Version which is for manual testing only and cannot test automated strategies. This is really of limited use and a licensed registered copy is US$99.00. The Pro Version is available for just $36 dollars more and is really the one to go for if you are serious about your trading. It includes a number of templates and gives users the ability to save and reload previous strategies and unlike the lite version allows automated testing.
Our Experience
We found the software easy enough to use and although we had some questions they were promptly answered. We used the Pro version and for the few dollars extra its well worth the money. For its ease of use and features, we think this is an excellent program all traders should consider and best of all its available at a cost that all traders can afford and one decent trade will more than pay for it.
