I have a question for you. Why pay for a simulator package when you can set up a free demo account with someone and get real time data streams and get real time historical data in the charts? There are some demo accounts that have no time limits and some that give real time news and analitics I can name one that gives a great package all for free. They explain how to use the graphs and all the technical indicators. The platform is easy to use and if you have questions or problems the customer service is good. That’s what their there for. I’m just wondering why, if you want real world experience and training, why not with real world data and information?
Does this package only provide for real time trading?
I bought Forex Tester because it allowed me to go back back in “time” and then speed up the time frame so data advanced bar by bar like in real time but much quicker, thus I could get alot more practice at recognising set ups and patterns than I could in real time.
I’m using a demo account and MetaTrader 4.0 to do real-time-demo trading.
I want a simulator package so I can do non-real-time trading where I can make the chart go forward and backward as quickly and as slowly as I want. Great way to learn.
Hi PKFFW,
Thanks for the suggestions! I’m gonna look at both of them right now.
Please post your thoughts after you’ve had a play with it. I’m not sure I will have the time to play with it properly over the next few weeks so haven’t downloaded it yet.
My demo allows me to go back a week and look at every bar if I want. I can go forward or backward just by moving a slide bar. I can enlarge a particular section to get detail or zoom out to get a better overall picture of the day or week. The price quotes are in real time so the actual trading is done that way but there are times I don’t trade if I want to go back and look at a past trade or look at patterns. Also the graph indicators package helps show patterns. I’m happy with it like I said in another post I pretty much doubled a $1,000 mini-account this month so far.
Mind if I ask if you are trading a particular system? If so, what system?
As for the simulator, I’m still looking for one. RapidSP it at the top of the list.
Why do I want it? To do training when I’m not doing actual trading.
Don’t get me wrong. Real-time demo trading (and real-time real trading) is great. And I’m doing that (demo only while I’m getting my chops). But I also want to do lots of practicing, chart reading, system testing and the like.
A simulator is great for this as I am not constrained to real time and can get years and years and years of data on which to practice.
I don’t know much about that software but sounds pretty handy. I may have to take a look at it. As far as my system, I’m backtesting 2 out. I don’t want to say right now just incase it blows up in my face. I’d sooner have the bugs worked out before I suggest it, but part of it is watching the fibo retacement closely. I find that the signals for the pair I trade are pretty clear. Like I said, they’re working so far but they may not work next week. I want to make sure I backtest enough. Then I’ll be happy to let everyone in on them. Good luck:)
Looked at RapidSP and Forex Tester. Also looked at Forex Simulator from ForexInterBank.com and searched for other simulator and tester software.
My pick - Forex Tester by a long shot.
Cost is $135 for the Pro version (which includes some important bells and whistles (Trailing Stops, more tools, ability to import and export data). More than $100 less than RapidSP and far easier to use.
The Forex Tester interface is very similar to the MetaTrader4 interface so for me it’s pretty much a no-brainer.
I can simulate years and years of real market data on all currency pairs, test strategies, test automated strategies, import stuff from MetaTrader4 to play with later (a good way to try a different strategy on recent losing trades).
I’m buyin’ it. I’ll let you know how I get on with it.
I recommend Forex Tester 2. You can spend a whole weekend testing or use it when you’re free. I’m against spending money that you don’t need to, but am trading full time and am glad I bought it several years ago.