Some of the best Forex trading simulator software are free, or at least come with free elements that others wouldn’t otherwise have in their software. But, there are some that you must pay for. Some will reveal that the true performance is through trade journals and then having to export them in a trade log for analyzing it. There will be no need to rely on estimations anymore with the new Forex Tester 3. Yet, if you’re still new to it, buyer beware! Some are not all that good. Yet, for this one, it will give you the facts first, to find out your true strategy, then it’ll give you a demo before going into live mode!
The good thing about this Forex Tester (3) is that it can test more than one strategy at any given time. For instance, with MT4 simulator, you can only test one strategy at a time. In addition, if you have the previous version of the Forex Tester 2, you’ll be allowed to transfer, download, and save your data in this new version of the Forex Tester 3. Therefore, it’s considered one of the Best Forex Trading Simulators on the market.
Are you getting your money’s worth? When it comes to simulators such as Forex trading, you may be. For those who buy the Forex Tester, for instance, you’ll get certain things for FREE.
10 simple manual strategies which are methods to gain “back-testing” experience.
• Popular expert advisors are what you’ll get for free; it’s the money management trading system. It will prove one can profitably trade without having such heavy technical analysis being involved.
• In addition, there will be 16 years of historical data which will be generated in 1-minute data intervals on 16 of the most common currency pairs such as gold and silver that will be given for free when buying the Forex Tester.
• Even more, is the 11-step plan on how to get the most out of the back-testing; this will come in the form of “white papers” which will be on “how to find a profitable strategy” including important recommendations on succeeding in an industry such as the real market for future profits.
• Furthermore, a risk calculator and a money management table will be included in the Forex Tester. This is also in the form of white papers (Excel doc) and will allow you to “stay in the market” whether you continue to lose all your trades or not.
• Last, but not least, is the free white paper on one of the most important elements of the Forex market; that is on “how to choose a broker.” Everyone needs one of these advice sheets before getting started in the Forex Market.
What is a Forex simulator?
The Forex simulator is a new Windows software which is much for training purposes on Forex trading. You can either use it in live mode or back testing mode, which is what you want when you get this software. It acts as the real Forex market and when you get the simulator, you’ll need to practice at it first, wouldn’t you think?
For instance, you can simulate trading from “candlestick charts” with major currency pairs and real rates from the last 5 years, but you will can train in the training mode if you choose and on variable times such as 1 hour to even the unlimited time. Updated monthly, you can download the Forex rates from this link.
How to know it’s the best Forex simulator software?
Since the Forex Tester, for instance, is currently on the market, you’ll find out if it’s a good and legit software once you start seeing those profits in your accounts.
Since you can have it on ‘live mode,’ it simulates the market trading with the ability to design a learning curve for you in which it will show you how to trade profitable outcomes.
Furthermore, to see if it’s real, the software such as the Forex Tester creates a test that is designed for you to learn how to trade profitably while at the same time creating and refining your strategy for the manual and automatic trading scenarios. Thus, if you’re making some profits, then you must have some of the best Forex simulator software in the industry.