I am looking for a good forex simulator. It is a much better approach then
live trading on a demo account as I would not have to do so much waiting
around and paper trading is fiddly and laborious time is precious and learning forex takes a long time.
I liked the demo of forex-tester 2. I actually got stuck in to some actual trading instead of fufeling with books, and backtesting without counting pips. Is there any good free forex simulators or are they not worth it.
Iām confused, why donāt you just backtest?
I use vHandsTrade, search for it in Google. It is a metatrader ea. Works very well.
If you are referring to manual back-testing, then it is time spent recording entries( time, date, pip and stop losses). I donāt know how I would backtest using trailing stopless. Simply too much wasting time.
It is fiddly. If I change the time frame from daily to 15minutes the chart move ahead. When I put trendlines and stuff onto chart, I end accidentally moving the char forward.
I feel like I am wasting 35%-50% time on things that can be automated. And I am not talking about automatic trading thats a completely different route that I am not ready to go down.
Hi,
I have an simulator EA for MT4 if thatās the platform you useā¦basically itās an EA that runs in MT4ās strategy tester and runs through the charts in visual mode. You can attach your favorite indicators or none, and it comes with a few scripts to enter trades. You can control the speed of the price feed, and select the timeframe to trade on. The main drawback I find with it is that multi time-frame type indicators donāt seem to work with it. When you stop the tester, it will give you your trading stats.
The best part I like is I can practice all weekend long if I wanted toā¦lol, or practise/test while waiting for trade setups during the week.
Sweetpip you thief! You stole that one from me!!!
No, just kidding. As I wrote before vHandsTrade is a good one.
But there is two āproblemsā with it, one is that it is hard to install the first time and hard to use, many problems etc. But when you get a good grip on it - it actually is a good program.
Second problem is that you cannot switch between timeframes. Letās say you like to draw trendlines on weekly and trade dailyā¦ Thatās unfortunately not possible.
However, since it is free, itās a really good programā¦ Try it and if you encounter any problems just write it here and I or sweetpips will help you.
I think I have a solution for you on the above comment; If I remember right, I accidently found, that if you this.
Mark up your chart with boxes or trendlines or whatever and save as a template.
Now run your EA - and load this template while its running - the boxes and trendlines etcā¦ . are still there???
I donāt know for sure I may be full of it - but worth a try - - I think however maybe the ea must run on the same timeframe you made the template for???
again just guessing at something I think I saw.
Thanks for the advice, but it isnāt working, the EA is built in the matter that it will erase past action.
Maybe there is another free for forex? I liked ForexTester 2.5 but isnāt worth paying for, rather demo test live.
One of the questions would be. Can you place entries on historical data. Or is this software just a automatic backtester that shows charts visually.
If I understand you correct: that you can āgo back in timeā and test your strategy then YES.
This is possible, you will not see what will happen the next candle or the candle after it.
Buystop order, buy order, short order, trailing stop everything you can possibly need as a beginner is there.
Yes it works on historical dataā¦you specify the start & end datesā¦just the same as when you run an EA and specify the start & end dates. Itās limited only to what history you have available. Iāve gone back a year on some and forward traded.
It does show the charts visually too. [B]Basically it replays the history data[/B], calculating any indicators, and you can slow down the rate it replays so you can analyze, draw trend lines, place orders, or whatever.
It has scripts to place market buy & sell orders, pending buystop & sellstop orders, but not limit orders. When you set an order, you specify the stoploss & takeprofit in pips. You can wait for the stop or profit levels to get hit to close the order, or there are scripts to manually close them. However, the version I have does not have an automatic trailing stopā¦but you can move the stop & profit levels manually while the trade is still open.
Anyways, the only way to know if itās something youād find useful is to try it outā¦hereās where you can get itā¦301 Moved Permanently
Hi, since training myself with an MT4 simulator my trading has improved dramatically. I use this one Only $10 too. Iāve tried free ones from brokers but find this easier to use.
All the best to us all!
Really manual back-testing is the best! Itās my personal experience!