FOREX TESTER 3 REVIEW
The world of foreign exchange and forex markets might be a complicated to most people. So, we will start with a few definitions to bring us up to speed on issues concerning forex markets. Forex is another word for foreign exchange. Forex market is a global market which is decentralized, where currencies are traded. A forex tester is a backtesting software which simulates this trading. It was designed to help new traders learn how to earn profits from trading in the forex markets by being able to create, test and make your strategies better for manual and automatic trading. This is what you will receive for purchasing a forex tester.
- You will receive ten simple manual strategies in order to gain testing experience.
- You will receive an expert advisor to ensure you trade profitably without the need for technical analysis.
- You will receive fifteen years of historical data pertaining to the most common currency pairs, that is, gold and silver.
- You will receive an 11-step plan to help you get the most on backtesting and get suggestions on how to succeed in the actual market in the future.
- You will receive a table on money management and risk calculation which will help you avoid losing all your trades in the market.
- You will receive tips on how to pick an appropriate broker who has your interests in mind.
Since Forex Tester 3 is a software that helped many traders in their career, it is highly recommended by the market experts. It has to be upgraded often in order to be in line with the various changes in the forex market. The latest version of the forex tester is the Forex Tester 3 which will surely meet your needs and will leave you greatly impressed.
Here are the features of the Forex Tester 3.
- It only has aggregate mode system which consists all the previous modes merged into one so as to help in simplifying and improving any testing activities you will carry out.
- The Forex Tester 3 utilizes all the processors so as to increase the speeds of the testing activities that are to be carried out.
- In the Forex Tester 3 has made it easier to open a new project with the use of a special button. Any inconveniences are resolved automatically by the forex backtesting software itself so there is no need to worry.
- With this new software, all the testing parameters are kept in the projects meaning they can be easily altered and saved. Therefore, you can easily switch between these projects, there is no need to regenerate the ticks and all these parameters will be generated automatically once you open the project.
- With this new software, you can now download any number of pairs of currencies at a times making it easier and less time-consuming. In only a few hours, the process is over and you can now go back to trading.
- Downloading and processing is now done in multiple threads thus increasing data downloading and processing speeds.
- Also, you can save your profile thus enabling you to preserve the desktop and allows you to position your chart structures the way you desire.
- It comes equipped with a smart profit chart which helps you analyze your strategies’ performance. The chart is now in the form of bars which let you note any change in your strategy. It allows you to open multiple charts all at once.
- The time shift for all the currency pairs is now automated meaning the software can now change the time shift for all the currency pairs at once, enabling the acceleration of the process of preparing the test.
- The number of EA’s have been increased to 3, and three more will be integrated into the system very soon. This will greatly improve the testing capabilities of the software, by being automated, thus making your work much easier.
- You can now drag and drop any pending order, stop loss or take profits onto the chart directly in order to alter the values in an instant. This will make it easier to use the software.
- The forex backtesting software supports the use of multiple monitors without any limit to better improving testing and processing.
- It contains a more user-friendly registration scheme which is made possible by the use of a master key which automates the registration process.
- It incorporates the use of Renko Bars, which will enable you to expand the range of tools for analysis and backtesting to higher limits.
- It allows you to organize your workspace according to your preferences so you will manage all your work easily.
- It incorporates the use of real tick volumes, which help in organizing the historical data while you analyze it.
- It incorporates the use of hot keys which can now be assigned to any and all functions you are carrying out and are also customizable.
- More graphical elements have been added, improving the use of the software.
- This software has simplified access to searching, editing and deleting any of the graphical objects provided by the software.
How does the Forex Tester 3 work?
Just download the limited trial version from the forex tester website which comes equipped with a one month of pre-loaded historical data with only three currency pairs. With this you can manipulate the data and simulated trades while applying technical studies that you require.
Every function you can get from an actual trading station can also be carried out within this platform such as, changing stops or take profit levels. You can save the data processed and can easily go back to previous tests quite easily.
Finally, the forex tester website has detailed instructions on how to use this software while in different modes. All in all, this is a very easy to use and will help you learn a lot on how you can trade profitably while also avoiding any loses that you may incur along the way. You cannot afford to venture into the forex market without this software!