November 1, by Hugh Kimura. I was struggling to take trades that I learned from software and courses. The reason I was nervous pulling the trigger was because I was not confident in how forum trades worked or if they would work at all. But what could I do? For me the answer was simple, I had to practice and backtest these strategies. However, it was difficult to find a forex backtesting software solution that suited my needs. This what I really needed because it is tough to go back through complete charts and try to simulate what I would have done in a particular situation. Sure, I could use a piece of paper to uncover the chart slowly to simulate the market unfolding, but my arm got tired and it was hard to write down the trades and hold the paper at the same time. All joking aside, I read about all these famous traders doing a lot of backtesting before trading real money or client money. But how could I do it without paying an arm and a leg? Don't get me wrong, forex I was looking around, there were a few really good systems out there for doing backtesting. The trouble was that they either only did automated tests, were really expensive, or had a monthly subscription fee. I would have been in the hole a several hundred to a few thousand dollars before I was able to come up with a trading technique that would actually start making money. Then I testing to a Rob Booker workshop and he told us that he considered himself a full-time backtester and a part-time currency trader. Many of his most successful students and himself included, were successful because they did a TON of backtesting. Interesting, I might be in the right place…. And as it turns out, I was. He had found this program called Forex Tester and it is how he and his students tested trading strategies to find trading techniques software worked best for them. I was so excited that as soon as I got home from the class, I downloaded the program. It definitely lived up to my expectations. The best part about this software is that now I don't trading to take someone's word that a trading technique works, I can test it for myself. I got this question quite a bit, so I decided to create a free course on how to do backtesting. Fortunately, Rob's course taught me everything I needed to know about getting started backtesting, but I realized that other people would not have the benefit of that instruction. Some of you are probably wondering WHY you should backtest. Here is a video showing you why. They are both 1 hour charts on the AUDJPY:. As you can plainly see, backtesting will give you much more practice than sitting in software of the charts for weeks or months. There is no replacement for actual live trading, but backtesting can give you the confidence to take and stick with trades and an idea if the method you are trading has a chance of being profitable or software. Testing your strategy is not a holy grail that will make you a better trader overnight, but it can help you a lot. Links on this page are affiliate links. We do make a commission if you purchase through these links, but it does not cost you anything extra and we only promote products and services that we personally use and believe in. A portion of the proceeds to my charity partner. Hi, I'm Hugh Kimura and my goal is to create a software income, trading Forex. If that is your goal too, then I invite you to join me on the journey. I will uncover what works and what doesn't Click here to follow me on Twitter. All information is for education purposes only and is not investment or trading advice. March 10, at 7: March 17, at 2: June 22, at 7: But Forum think my biggest problem is that the price data used is different from what my trading alpari offers. So this makes it nearly impossible to replay your recent trades accurately on forextester. June 22, at 8: Forex Tester has a feature where you can download broker specific data, I think Alpari is one of the available brokers. You can also forex back in your Metatrader charts and press F12 to move trading candle by candle. That would allow you to replay more current data. You would have to paper trade it, but it is an option. Testing 9, at 6: Hi Hugh, Thanks for sharingbefore I look into this further can you tell me how much historical data would be available, for example, forex I want five or even ten years of minute candles? March 9, at 8: All the data they have starts in and goes to the end of the current previous month ie Forex. It is in 1 minute increments, which will roll up to any time frame above that. January 29, at 2: Thanks for the feedback. January 29, at Depends on the system and how many trades. I did have issues in the past where the demo version was really slow, but the paid version was fine. Not sure if that is the case, but when I test, the fastest speed is always a little too fast for me. January 12, at 7: Hugh, what is the difference between your forex back testing course and forex tester 2 and say using it on stocks or commodities? January 13, at 4: Forex Tester 2 is just one of the software packages that you can use forex backtest Forex strategies. My course teaches people how to get started with testing…where to find systems to test, learning what works with their personality, ways to possibly improve a system, stuff like that. I use Forex Tester 2 as the example because that is what I am personally using, but people can still use the information in the course with Ninja Trader, Tradestation or any other software product. There is backtesting software available in those markets, but I have never used them and from what I have seen, historical trading can be a software expensive. Historical data for Forex Tester 2 is free and is updated monthly, but the program itself does cost money. February 13, at 4: Success is often measured by the effort one puts forth and at Forex, it is important that each person has the same equal opportunity toward success. Forex makes it possible for anyone to succeed in the process of trading and with their online tools, one can feel confident that he possesses the knowledge necessary to become a competent trader. October 25, at 1: October 26, at 1: June 6, at 5: I wonder if this program works for my purpose. I have setups which I enter manually and set a stop loss manually. What I like to do is testing different exit strategies based on these entries. So would the programm allow me to test for example the two fold of my chosen SL? Or a ATR as SL and a crossing in moving averages as exit? June 8, at 3: Thanks for the kind words. Yes, this should be very good for what you want to test. It will allow you to manually take trades and set your entries and exits. If you have any doubts, I would try the free demo download that they have. April 13, at Do just about anyone knowledgeable about the right Software package or perhaps a professional brokering service, that should be able to teach me personally? My partner and i do understand, the markets is extremely high risk, nonetheless we both have lots of funds currently and also would have significantly more. Soanyone has any kind of guideline in support of us? April 23, at 3: March 16, at No problem, I would be happy to help you. First of all, check out the videos on how to backtest here:. What strategy are you trying to test? If you let me know, I can make a customized video just for you on how to start testing your strategy. August 10, at 1: You were wondering how to do backtesting with Forex Tester 2 and I hope the information I provided you helped. If not, I have recently created a free course that goes into all of the different things you need to know when backtesting. You can sign up for it here:. Your email address will not be published. Notify me of followup comments via e-mail. You can also subscribe without testing. Trading currencies or any other financial market involves substantial risk, and there is always the potential for loss. Your trading results may vary. No representation is being made that any associated advice or training will guarantee profits, or not result in losses from trading. Neither the products, any explanation or demonstration of their operation, nor any training held in conjunction therewith, including, without limitation, through blogs or forums, in conjunction with any advertising and promotional campaigns should be construed as providing a trade recommendation or the giving of investment advice. All content on this website is for informational purposes only. Before deciding to invest in foreign exchange or any other financial marketforex should carefully consider your investment objectives, level of trading, and risk threshold. You could sustain a loss of more than your initial investment. You should be aware of testing the risks associated with foreign exchange trading, and seek advice from an independent certified financial adviser if you have any doubts. Start Here Resources Products Blog About. Other Forex Backtesting Software Solutions Don't get me wrong, when I was looking around, there were a few really good systems out there for doing backtesting. Interesting, I might be in the right place… And as it turns out, I was. Here are just a few of the benefits of Forex Tester 2: I wouldn't be able to even buy the historical data for other programs or other subscription based forex backtesting software programs would only allow me to backtest for months for that amount of money. You can add your own custom indicators you can either find them online, program them in or find a programmer to do it for you You can see multiple time frames individually or you can have multiple time frames up at once. You can get free, high quality historical data to test with directly from their website. The program allows you to not only have multiple windows open with different time frames in the same currency, but you can have multiple windows with different currencies. This will allow you do test for market correlations or practice hedging techniques. You can save your testing projects for review later. After you are done testing, you can double click each trade in the forum log and the program will automatically move the chart to that trade. You can then scrutinize your trades and find any common elements that can make you more profitable. You testing try this forex back testing software for free before you buy. You can write notes on every trade so you can go back later and sort your trades by type. You can forex your trade log for trading in Excel or any other program. Automatic upgrades when new versions are released. The program keeps a running total of several important metrics like: How Do You Actually Backtest? They are both 1 hour charts on the AUDJPY: Testing Posts A Software Forex Trading System Tested — Daily Pin Bars on AUDJPY How to Backtest the Forex Carry Trade Strategy 3 Simple Ways to Develop Confidence in Trading Forex How to Automatically Mark Trading Sessions When Backtesting. Comments jay says March 10, at 7: Looking forward for your reply Regards. Hi Trading, Great article. What is the best solution? Hi Damien, Forum the data they have starts in and goes to the end of the current previous month ie Feb. Testing Hugh, nice website. Hi John, Depends on the system and how many trades. Hi Gary, Forex Tester 2 is just one of the software packages that you can use to backtest Forex strategies. Hope that answers your question. If you are backtesting, I would say Forex Tester 2. If you are live trading, then Metatrader. Hi, I wonder if this program works for my purpose. Nice blog btw and good luck for your trading. Hi Christian, Thanks for the kind words. Let me know if you have any other questions and I will be happy to address them. Hi Edwardo, I would check this out, it has helped me tremendously: First of all, check out the videos on how to backtest here: So look out for a video later this week or early next week. Thanks for your comment! Thats great but how DO you actually DO the backtest on Forum Tester? Its driving me nuts as i am having a real hard time figuring out how to test my own stragedy. Can you tell me how please? Hi Des, You were wondering how to do backtesting with Forex Tester 2 and I hope the information I provided you helped. 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Does Back Testing a Trading Strategy Work?
Does Back Testing a Trading Strategy Work?
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