I use a product called QTrader, it has a relatively low monthly license cost of 40 USD.
To that you need to add the cost of a data feed - If you guys don't work in the financial sector you classify, according to the CME, as "non-professionals", which means that the cost per month of a data feed for the ES would be 5 USD. To have access to all of the CME live data you would pay a capped fee of 15 USD per month.
You would need to open up an account though and deposit real money, even if you don't trade with real money. You can SIM trade until such time you feel ready to experiment with real money. The monthly cost would be deducted from the money you deposited in your account.
I believe NinjaTrader also offers similar deals.
I'm sure there's other options out there which I'm not familiar with.
The following 2 users say Thank You to xplorer for this post:
I also wanted to add.... there is a school of thought that proposes that SIM trading only for a considerable amount of time is a good idea.... there's another school of thought that suggests that too much time spent on simulation can be bad because one can risk developing bad habits that can persist when trading with real money...
Personally I tend to favour the second approach - I spent about 5 months doing SIM trades and then I decided to move live. Moving live can be a trauma, at least initially, because you deal with the emotions of winning and losing real money, which can be tough, especially for beginners.
The following user says Thank You to xplorer for this post:
xplorer- may I ask you how exactly what platform you started sim trading on? And don't worry, and someone who's only been trading for 2 weeks, I'm pretty sure I haven't reached that "too much sim trading" stage yet.
I plan to start trading futures within the next few months and have (pretty much) decided on the platform I want to use (Sierra Charts - it is NOT beginner friendly, but I like it because it's a fast, pretty much fully customizable platform).
2) Picking a platform or two to try and doing the free demo.
3) Once you've chosen a platform, decide on a broker (like was mentioned above) - Sim trading's cheap, but it ain't free for long because your gonna have to pay for data, exchange fees and such. (I'm pretty sure I'll go through Infinity Futures, cause they proved the Level 5 Sierra chart for free and they seem to have a good rep).
Nice one Okina... although I would argue that QTrader offers some basic backtesting... called Signal Evaluator.
By basic backtesting I mean
Gives you decent profit curve tools for signal evaluation
Export that evaluation into Excel
The other limitation that applies to backtesting is that you only have 3 months worth of detailed data... some experienced people on this forum suggest to backtest with 10 years of data, so 3 months is a bit thin...