Demo Forex
Trading, Forex Tester
Review
For every 10 newcomers to the Forex
marketplace, only one will experience any degree of
success. The remainder will depart having lost what might be
a considerable amount of money, why? They probably started
without Demo Forex trading first.
As with everything new, there is an absolute necessity to learn
then practice Forex trading to develop the necessary skills to
succeed, this is where demo Forex trading is vital and the
tools are readily available.
Forex Tester
is software that offers both newcomers and experienced Forex
Traders the ability to demo Forex trade thereby testing
their strategies and ideas on many years of historical data on
a demo account before committing their hard earned cash to the
Forex marketplace.
Forex newcomers are often way too quick to enter the market
with real money. They practice Forex trading on a Forex
Broker’s demo account for a couple of months and think they
have the system down pat! What they don’t realise is that many
demo accounts are run from system testing servers not the
trading servers, so though the figures look very similar, they
do not necessarily reflect real time trading.
This is where
Forex Tester
becomes a powerful tool in your trading education. The software
provides you with the opportunity to test your strategies and
practice Forex trading on many years of data. You have access
to Forex charts going back to 2001 on a wide variety of major
currencies and over time frames as low as 1 minute. This gives
you an unprecedented ability to test and determine how reliable
your strategies are. Forex Tester allows you to import
unlimited numbers of currency pairs and years of historical
data almost in most text formats (ASCII *.csv, *.txt) and in
MetaTrader4 history format (*.hst).
Forex
Tester comes with 30 or more of the major indicators plus
the ability to add virtually any others you may wish, you
can create channels, vertical and horizontal lines, ray
lines and much more, changing their colour and style at
will. Your charts can be line, bar or candlestick, you can
monitor your statistics and every trade is stored in
‘Account History’
I stumbled across Forex Tester and decided to give
it a try. I'm very pleased that I did... And I can
practice on weekends when the market is closed.
I've already been able to test more than 5 systems
and I've learned all kinds of techniques using it -
finding support and resistance, drawing trend
lines, practicing Fibonachi retracements and
extensions.
With it I have been able to do hours and hours of
demo trading. Because I can control the speed of
the simulation, I can do more demo trading with it
than I can with a real demo account (an account
that is constrained to real market speed). It has
all the studies I could ask for - moving averages,
stochastics, MACD, bands, RSI, etc.
I'm already seeing improvements in my ability to
pick good trades, avoid simple newbie mistakes and
I'm seeing my simulated account growing
already.
Best money I've spent on my Forex education. I
can't recommend this software highly enough. |
| 'Iggy', forexjustice.com July
2008 |
Forex Tester
is probably the most powerful demo Forex trading system, it
will give you the chance to develop your skills and confidence
to trade your strategies even when the market is un-predictable
and performing erratically, without risking your real trading
account. You don’t need to be a programmer to use it and Forex
Tester is supported by Video tutorials, an active Forum, Help
screens, FAQs and an email support
system.
Watch Forex Tester in action in this
short video
Forex Tester V.2 is priced at US$150 for
a single computer license.
Discounts are available for multi computer licenses. They also
offer a free trial with reduced functionality.
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