Forex Tester 3 Forum
4 stars based on
Yes, it's the same program. Because we have seen what a difference the Tester made in our own trading and we don't want anyone to be without it. And we also offer you our own training videos and support. So many people tell us we have a really great way of explaining things in easy-to-understand videos, so we wanted to make the use of the Tester easy for people too. Of course you can also explore the training videos available on the Forex Tester website too.
But our videos are only available to people who have bought the Tester directly from us. The following table summarizes many of the new features. To see more details about each feature, click here. It is a free-standing separate program that comes with its own indicators. MT4 EAs do not work on the program either, but an API is provided so that you may code your strategy to work on the tester or hire a programmer to modify it for you.
There are also independant consultants who you can hire to code your strategies or indicators for you into the correct language. If you buy the program from us we will be glad to give you a few names. There is also a forum you can check for help with this. You are purchasing one license for the Tester.
If you have version 2, you can write to us and we can move your license to another computer for you. If you have version 3 the licensing is more flexible. The license allows you to install the software on your PC at home and, say, on a laptop at work.
Working with Forex Tester on both machines simultaneously is not possible. Yes, you can open several chart windows for a currency at the same time and each can be set to its own time frame. It will be just like your live platform.
You can open many such windows like this at once. Yes, you can open several chart windows for different currencies at the same time and each can be set to its own time frame as well.
If you open a lot of different pairs you may find some slowing down of the playback depending on your RAM and computer settings. Click below to see a screen shot of the Forex Tester 3 working with the Forex Smart Calculator to allow you to calculate accurate position sizing for your risk profile, even using historical pip values. The Trade Log also allows you to import statements from the Tester for in-depth strategy analysis: No, there are years and years of free data that are available to you when you buy the Forex Tester.
If you trade higher time frames this data will probably be all you need. If you trade shorter time frames like a 1 minute chart or 5 minute chart or if you want to have accurate variable spreads used in your testing, then you may want to also have one of the premium data plans though.
Read more about this service here: There is no charge for moving your license from one computer to the other. With FT2 we de-activate the license for the first computer and issue you a registration ID for the new one. With FT3 you are in charge of moving your license from one computer to the other. If you buy a premium data plan, the same holds true - we can move your data to the other computer if you are on FT2, but with FT3, the data plan will come with you as you move from computer to computer.
If you plan on trading exclusively with an EA rather than discretionary or manual testing, using the Strategy Tester may be of value to you. But you should be aware that there are many complaints of the Strategy Tester giving inaccurate results and results that do not match the use of the same EA in real life. Try doing a web search for How accurate is the MT4 strategy tester and you will begin to see the many complaints people have about it.
You would have to find a programmer to recode your EA for use on the Tester. If you plan on developing your own skills as a discretionary trader, then using an EA is of limited value to you, because much of what needs to be trained is your own mind set and discipline. To be a trader, YOU need to be trained as much as any particular strategy needs to be tested. The Forex Tester can accomplish both tasks with a very high degree of accuracy.
Another problem with the Strategy Tester is the limit many brokers place on how much historical data they keep on their servers and make available to you. For example, look at your broker for the earliest 5 minute candle you can pull up. Some brokers go back a year or two, but many only make six months of data available on the lower time frames. The Strategy Tester can only work on data that is sees. On the other hand, the Forex Tester has accurate data going back toincluding tick data from If you are on our email list, you have access to a different free backtester that works with MT4.
If you work with both simulators for awhile, you'll quickly see why we encourage you to upgrade to the paid version: If you'd like to try that free program, sign up to our list and we'll send you that link.
But if you've been riding a tricycle, then going to a real bike with training wheels is a big step, and a very worthwhile step. Yes, you learn something about timing from watching real time charts that you don't learn with the Tester, but you learn so much about pattern recognition and decision making based on working with the Tester.
Neither one simulator or real is a replacement for the other, nor are they meant to be. You will develop a valuable component of your overall skill-set from each approach to learning. Data from January is available for free for these pairs: For the list of those pairs, please click here.
For more info about the Data Plans, please click here. In the demo mode you only have access to one month of data, so that's why you are seeing this restriction. When you own the Tester you have access to years worth of data.
You can start testing at any date you like. When you click Start Test you see a dialog box and one option is 'Define first date to start'. You have a slider bar to choose your start date or you can enter it directly, as shown below. The date that the candles go back to the first candle on the far left side of the chart is determined by you when you generate ticks - we show you how in our instructional videos, which you have full access to when you buy the program.
Well, it's true - you can't literally. But what we see as price action is simply the result of masses of people acting on basic psychology based on fear and greed. These are deep-rooted emotions that are not likely to change all that much in the near future.
That's why we keep seeing the same patterns in the market repeat themselves over and over again. So if you expect something to work in the future, your odds are better if you saw it also work in the past. Personally, we'd much rather hang our hats on a nail that we knew held things up for the past 10 years than on a nail that we saw kept falling down over that time period There are many 'flash in the pan' strategies that worked for awhile - then stopped working as market conditions changed: Yes, these are all approaches to trading we have personally used in the past that just don't work well anymore now.
Testing on historical data will help you clarify for yourself if your strategy is based on principles that are likely to endure or are ones you better ride fast and hard like a pony-express horse until it runs out of power, then be ready to jump onto the next hot pony. The Forex Tester does not offer profiles saved groupings of different chart stylesbut it does allow you to save templates - and the templates also hold the information about what time frame the chart uses, so you can quickly set up a group of charts including the indicators and time frame of each chart with the use of templates.
The Forex Tester web site has a very active forum with the participation of many active programmers. The program gives you access to the forum to find specific indicators you may wish to use. There are also private programmers with libraries of indicators for sale. The Forex Tester is not built to use MT4 indicators.
You could hire someone to re-code your custom indicator for you into the programming language that the Tester uses and then you'd be set. At this time, the Tester is capable of displaying true range bars. Renko bars are a feature of version 3 of the Tester, whic is currently in beta testing. Range bars show price action based on the number of ticks per candle, rather than how much time has elapsed per candle.
You're going to love the moving average option. Unlike MT4 that only lets you shift horizontally, Forex Tester 2 also lets you shift a moving average vertically. It's hard to find an indicator for that in MT4. Forex Tester lets you do that - automatically built in. Click to see a screen shot of what this can look like: There is no need to synchronize your charts to your live platform. This program is entirely free-standing so you don't need to refer to your live charts.
If you do want the charts to display the same GMT time offset as your live broker, you are able to make a time shift adjustment to the Tester data to accomplish this. In our training videos we explain how to do this. Below you will see three charts from early October All have the same three swing high and low points marked with prices. As you will see, they are all within a couple pips of each other but are not the same exact price.
In our trading, we normally keep different brokers platforms open at once to compare prices and we often see these kinds of price discrepancies between them - it's the nature of an unregulated market. One of the biggest price discrepancies that appear between different brokers is what happens over the weekends. Each broker makes their own choice about when to close over the weekend and when to open again and an hour difference can make prices appear very different if you are comparing the opening of a week.
On all the three charts below, notice how different the candle action is over the weekend from one to another - the weekend is marked by the double vertical lines. If you buy the Forex Tester from our site, we provide you with access to video instruction that shows you how to coordinate the times you see on Forex Tester to your own broker's charts if you so choose.
If you are going to compare one "opening" price with another "opening" price, you have to make that adjustment - because the default might be putting 'opening' at an entirely different time than you are seeing it on your own broker. Forex Tester is also offering a premier data service that gets data directly from six major brokerage houses, so if yours is among them you could see your actual data if that is important to you, so that is an option if greater precision is important to you. We also offer you a substantial discount for these premium data plans.