Is forex tester 3 worth $300?
At roughly $300 US, Forex Tester 3 has made some traders look for cheaper/free alternatives to backtest. However, I do not think the price should be seen as just a $ amount, especially when we’re talking about a tool that can make you a better trader. Using it has to be seen as an investment (more on that later).
How do I validate my forex trading strategy?
That being said, one of the alternatives to validate your Forex trading strategy is to use your current trading platform, scroll back in time and move forward one candlestick at a time. That’s quite simple in Meta Trader 4 where you can press F12 to move candlestick-by-candlestick.
How to install custom MT4 indicators to ft3?
As soon as you have the required indicator in .dll format, add it into Forex Tester via File → Install → Install New Indicator/Install New Strategy menu. Re: How to install custom MT4 indicators to FT3 ?
Backtesting Guide: Validate your Forex Trading Strategy with Forex Tester 3
Note: This post started as a Forex Tester 3 review, but I decided to turn it into a Backtesting Guide showing you how to validate your Forex trading strategy, which (I hope) will be more valuable to you.
Why Validate Your Forex Trading Strategy?
I get it…it can be scary to backtest. Everything you’ve been trying to trade might turn out to be unprofitable in reality. Backtesting is like this make-it-or-break-it moment where you’ll get to see what you can truly expect as a trader.
Forex Tester 3 Review As A Backtesting Tool
In How To: Backtesting A Trading Strategy The Right Way, I discussed how and why I was often backtesting my trading strategies manually (for free). Most often than not, I’m on-the-go and don’t have access to a backtesting software (especially when all you have is a Macbook Air).
Wrapping Up: Do You Really Need Forex Tester 3?
The short answer is no. I personally don’t think Forex Tester 3 is an essential software for traders. However, if you are an aspiring trader looking to validate its Forex trading strategy, it’s certainly a plus to have that software in your arsenal.
Forex Tester 3 Vs MT4 Strategy Tester
One of the most important comparisons in this market, is obviously between the MT4 Strategy Tester and Forex Tester 3, as MT4 offers a free alternative. The reason the developers make this comparison, is to show traders why utilizing their software is worth spending money for.
About Patrick Ryan
Patrick is a Forex enthusiast, with over 10 years of experience in finance, and market analysis. He’s eager to help traders achieve their investment goals, whether they are short or long-term. Patrick’s penned thousands of reviews, and is always available to discuss trading with anyone who’s interested.