Effective Forex Backtesting Tips
There are many historical forex trading data providers
. However, you must research about each provider before purchasing the data.Reputable historical forex trading data providers must be able to give complete data for a year. This is because studying complete historical data will be more helpful than second guessing trades in areas missing from historical data charts.
You must also know the different signals and time frame charts used in these forex backtesting data. This will help you completely understand how trades in covered days went through.
You can ask the support crew of your historical forex trading data provider about these signals and time frame charts. You can also consult expert forex traders for advice.
Also, try to carefully analyze which years can be used to accurately predict changes in your current trades. For instance, the 2008 historical forex trading data chart can be a good resource for day traders in the US.
Also make sure that you use forex backtesting charts to keep your current winning trades running. This data can also be used to predict which losing trades must be cut off immediately to minimize losses. At the end of your trading day, you should have more winning trades from losing ones. Otherwise, you should have kept your winning trades running while your losing trades cut off right away. This means even if there are more losing trades in a day, cutting them off while keeping your winning trades running will ensure that you have profits for that day and not losses.
Effective Forex Backtesting Tips
By: Balaji