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Forex Tester 2?


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Forex Tester 2?

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  #1 (permalink)
 Joseph689 
San Jose, Ca
 
Experience: Beginner
Platform: MetaTrader 4
Broker: Interactive Brokers
Trading: Forex
 
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Posts: 121 since Sep 2012
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Hello,
Does anyone have any experience with Forex Tester 2? If so, could you please share your opinions?
 
Code
http://www.forextester.com/
Thank you.
Joseph

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  #3 (permalink)
Thxo
West Java
 
 
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Great tool, to speed up my learning curves and my trading instinct ...
I've using it a lot in the past, testing trading (entry/exit) ideas.

Try the demo first ...

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 KahunaDog 
Hawaii at the beach
 
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I have the product.
I've logged some hours on it.
My greatest takeaway is condensing a lot of screen time in a short period. I haven't used it in awhile.

I think it's good for price action traders as you can build a lot of screen time and look for patterns and or similar.

Try it before you buy it.

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 Joseph689 
San Jose, Ca
 
Experience: Beginner
Platform: MetaTrader 4
Broker: Interactive Brokers
Trading: Forex
 
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Posts: 121 since Sep 2012
Thanks: 113 given, 38 received

Thank you both...I have purchased it, got the Chinese New Year discount!

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sharpshoota
Bodoe , Norway
 
 
Posts: 143 since Jun 2014
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yes!....I have been using the forex tester 2 alot.
It's great, will never trade any strategy without testing the crap out of it first.

Testing has given me much more confidence in my strategy.

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  #7 (permalink)
 Joseph689 
San Jose, Ca
 
Experience: Beginner
Platform: MetaTrader 4
Broker: Interactive Brokers
Trading: Forex
 
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Posts: 121 since Sep 2012
Thanks: 113 given, 38 received


sharpshoota View Post
yes!....I have been using the forex tester 2 alot.
It's great, will never trade any strategy without testing the crap out of it first.

Testing has given me much more confidence in my strategy.

Cool....great to know I made the right decision!

After I purchased it, I sent a question to the author.
Response was fairly quick, and matter was resolved to my complete satisfaction!
Great product and support indeed!

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  #8 (permalink)
 KahunaDog 
Hawaii at the beach
 
Experience: Beginner
Platform: Nt8, MotiveWave, TOS
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Trading: ES, ZB fine alcohol and muscle cars
 
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I think it would be wise to come up with a systemized way of using it for yourself.
Take notes. Do 20-100 set ups or similar then adjust testing.
Maybe start with balance/consolidation and imbalance/trend.

I am not really a moving average person, but after testing I came to find a way to use moving averages to gauge and identify market state.

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  #9 (permalink)
 Joseph689 
San Jose, Ca
 
Experience: Beginner
Platform: MetaTrader 4
Broker: Interactive Brokers
Trading: Forex
 
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Posts: 121 since Sep 2012
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KahunaDog View Post
I think it would be wise to come up with a systemized way of using it for yourself.
Take notes. Do 20-100 set ups or similar then adjust testing.
Maybe start with balance/consolidation and imbalance/trend.

I am not really a moving average person, but after testing I came to find a way to use moving averages to gauge and identify market state.

Would you mind please explaining further what you mean, "wise to come up with a systemized way of using it for yourself".

Who's data are you using for the back-test?
I was told it's best to use the data for back-testing from the actual source where you'll be execute the live trades from eventually.
I have yet to decide on a forex broker. It would be nice to stay with IB, reputable and well established, but their commission are too high.

Thank you for your advice.

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 KahunaDog 
Hawaii at the beach
 
Experience: Beginner
Platform: Nt8, MotiveWave, TOS
Broker: S5
Trading: ES, ZB fine alcohol and muscle cars
 
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Posts: 546 since Apr 2013
Thanks: 1,165 given, 403 received


Take an entry, exit, managing method, indicators, etc and trade it in demo. Do this 20to100x. Record your pips, wintoloss, etc.
Then begin adjusting that system and repeat but change 1or2things.

Data...I used the free data.
1to3pip difference imo is neglible.
Brokers...fees shouldn't matter unless you scalp.

Like I said the biggest thing I got out of forextester is anticipation of price action.
I had difficulty trading retail forex. Futures has volume which has made me ticks before I used forex so went back.
Maybe try mini futures for eurusd and gbpusd.

Do that demo about 200to500x and get back to me with any feedback then I can give you more of my experiences.

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