Review by Aaron Lawton
One of the biggest gripes I have about most software packages on the market today is that they bombard you with too much information. Who wouldn’t feel overwhelmed if they got a 300-page manual in their letterbox outlining the finer points of a particular trading algorithm?
Simplicity is bliss. And that’s exactly what Forex Tester 2 is – both blissful and simple, while still packing some grunt, it has certainly won me over. The software is easy to install and within the space of five minutes, I was able to download this program off the company’s website and begin using it. You can use the free trial version of the software and you don’t even have to register your email address.
This is a program aimed at beginner FX traders and it hits its mark wonderfully. Forex Tester 2 allows you to back test your Forex trading strategies using historical data and then, when the time comes to jump into the real market, you can do so with confidence.
The trial version is free and you can’t say that’s not a good deal. It is limited in its scope however, compared to the full-priced option, you can only back test using one month of historical data and you can’t save your testing results, projects or templates. But there’s enough here for you to work out if the program is for you, before you commit your hard-earned coin on it.
It’s the norm now in the trading software market to include a spate of technical indicators with any program and Forex Tester 2 is no different. By my count, there are well over 30 to choose from. What I particularly liked is the fact you can load up different indicators on different timeframes on any chart.
Also of great importance, especially when back testing, is to focus on your money management. The creators of Forex Tester 2 clearly know this and with each tick you move forward during testing, the software updates what your financial position would be at that point in time, which is extremely helpful.
Of course, don’t take my word for it. If you’re looking at getting into the Forex market and have a strategy or two up your sleeve, Forex Tester 2 may well be for you.
Aaron Lawton has been trading options part time on the US stock exchanges for a little over two years.
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