Hey all,
I know that backtesting can be extremely important in forex trading. I was wondering if anyone here uses a separate backtesting program or just MetaTrader4? I need to test manual trading systems (not automatic) so I wanted to know if there are any good programs out there for that.
Sorry if this seems hastily written. Currently in a drive through at Steak 'n Shake.
Thanks!
As a programmer I can tell you that MT4 and their EA is [B]not[/B] used for hardcore trading programs. It’s more or less used as a testing platform for your indicators and some easy and pretty much, dummy EA (i.e. scalping EAs).
Well, if you have ever launched system tester, you are required to have a EA to launch. You can try to launch some blank EA, and start trading within the test, you will see.
Are there any notible/easy to use back testers that you know of pbx?
What do you mean by “easy to use” backtesters? Basically, it’s more for programmers than traders.
I’ve seen “testers” built upon MT4 which are not free. I have found https://www.quantconnect.com but never tried it. And also this one, which seems to be pretty advanced StrategyQuant. But I have to look at them.
I will look at that quantconnect, which seems pretty close to what I am looking for.
If I remember correctly, the EA’s in MetaTrader 4 are for testing automatic trading robots. I’m more looking for something that’ll let me test a manual strategy against old data, where the program will track the trades for me. Something like Forex Tester 2, but hopefully free lol. You can progress the data 1 candle at a time and make trades that the program will track. Do you know of anything like that or is it just easiest to do in MetaTrader and manually record everything?
If I remember correctly, the EA’s in MetaTrader 4 are for testing automatic trading robots.
Yes, it is, but it’s not a very good quality, and it’s a very basic “automated trading”.
AFAIK there’s no such thing, I can program one, but it won’t be soon.
I do know of one, Forex Tester, but it’s expensive. Does anyone know anything about Forex Tester? Has anyone used it and found it to be worth the cost?
Trade interceptor with their module Trader Gym!
Best backtesting program out there.
You can hide the candles and make them visible progressively to mind test your entries and exits.
Mac version is the best one.
Thanks VladWulf! I’ll check out the PC version (don’t have a mac) and if it isn’t doing what I want I’ll pay for the other one. I appreciate the help.
I don’t know how helpful can back testing be, but I know for sure that live testing on a certain strategy can definitely prove you if your strategy is good or not.
As professional trader, my humble advise to u is to use forex tester. There is no better investment u can make in ur trading career than buying forex tester.
And there is no better way to master the markets than backtesting. I trade with a private group of traders. There is no one among us who have not backtested our strategies extensively. In fact we often joke that we are full time backtesters and part time traders.
Happy trading.
I’ve used Forex Tester 2 in the past. It’s good. You can download tick data from different brokers / data providers, but you’ll have to pay a monthly subscription for the data. Or you can use the free data provided by Forex Tester 2, but it’s from a no-name broker that I never heard of.
Thanks guys. Through playing with some of the free programs, I’ve come to the same conclusion. I’ll be buying forex tester on Tuesday of this week. You recommend the highest level of the program? Or the middle one? I was hoping to avoid monthly payments but I know how important this is.
Back testing of the strategies you want to use gives you a better and unquestioning signal to use the strategy on particular instrument. I think MT4 is only good for trading as it gives the wide range of internal benefits.
I need to find out a good back testing program with good accuracy!!
Rondzouza, I would highly recommend Forex Tester 2. I have bought it now and it is pretty much exactly what I was hoping it would be. They have accurate data, you can test on a range from 2003 to 2014 data with a particular broker. You can do manual testing candle by candle, you can do automatic testing if you’re using an EA strategy. So far I’ve been very pleased.
10/10 would pay $440 again.
Well the cost associated with this Forex Tester 2 is really high. I am not sure if I am willing to pay this. But, if I get to use a demo account of the same I will be highly obliged.
Can you please send a link to download or apply for this platform? Is it provided by a technology provider so some random broker??
It’s very good to backtesting system and strategy with demo account, look performace trading along backtesting on certain period of time, if like;y during backtesting giving good result, which we really understand how these system work, it will useful in real account later.
There is a good one, I cant remember what it was, have to search for it. But you use it in backtest in MT4, and can manually enter and exit trades, but dont think you can change the lot size, cant remember. I need an Expert tester myself with good quality. Again, cant remember how to import tick data, been awhile.