The Top 3 Forex Testing Software Programs On The Market
Are you looking for a Forex testing software program to test your automated Forex systems and optimize them for maximum profits
? There aren't many reliable ones out there, and especially considering that a couple of them will set you back between $100 - $500, you'll want to make sure you've got one that fits your needs before you buy.
After extensive research and trying them out for myself, I've narrowed the shortlist down to these 3 top Forex testing software programs available on the market. These are Forex Tester 2, Metatrader Strategy Tester and Forex Strategy Builder. I've taken the time to rank these three highly recommended programs as well, so that you can make an informed decision on which of these are the best for your own needs.
Top Forex Testing Software Programs On The Market #1: "Forex Tester 2"
Without a doubt, Forex Tester 2 is one of the most complete Forex testing software programs available on the market right now. Not only does it feature a comprehensive back testing suite to gauge any automated trading system's performance and optimize it for maximum profits, it also has a live trading simulator that is ideal for manual traders to hone their trading skills as well.
I won't go into detail about the trading simulator, as that was not my main focus when I tested it, but basically it allows you to simulate 10 years of historical trading data and trade it as if you are trading it live in real time. This is perfect for anyone who wants to hone their trading skills through hours of practice, or to analyze past trades to improve their strategy.
In terms of back testing and optimizing an automated Forex system, Forex Tester 2 is one of the most sophisticated Forex testing software programs on the market. Not only can you test a system to determine its profitability and profit factor, you can also gauge the robustness of the system with a range of custom performance statistics. The back testing and optimization modules are certainly much more intuitive and easy to use than the Metatrader Strategy Tester.
All things considered, I would give Forex Tester 2 my vote as the best Forex testing software program available out there. The only drawback is the price, which at $200 seems a little steep if you just want to test automated Forex systems. However, if you take into account the manual trading simulator, it's certainly one of the best complete packages available.
Top Forex Testing Software Programs On The Market #2: "Metatrader Strategy Tester"
Second on my list of recommended Forex testing software programs is the
MetaTrader Strategy Tester. In case you didn't know, MST comes bundled together with Metatrader 4, which is the most popular trading platform for the purposes of running automated Forex systems. Not to mention that it's extremely powerful considering that it's free. It does take some effort to understand how to use it effectively though, so if you're new to back testing and optimization you're going to need some help.
If you don't want to spring for the more intuitive Forex Tester 2, you can still get on top of using the
MetaTrader Strategy Tester by investing in the Guide To Getting Rich With Forex Robots' "Metatrader 4 Back Testing & Optimization Course". This is a unique guide that will walk you through the entire process of back testing and optimizing systems with the MST software module. In no time at all, you'll be using it like a pro to optimize your automated Forex systems' profitability and keep it in sync with the markets.
The
MetaTrader Strategy Tester combined with the Guide To Getting Rich With Forex Robots' "Metatrader 4 Back Testing & Optimization Course" is certainly a winning combination, and at $87 it's definitely a great option for the budget conscious ones out there.
Top Forex Testing Software Programs On The Market #3: "Forex Strategy Builder"
For those of you who prefer a more visual approach to back testing and optimization, then you'll like Forex Strategy Builder. FSB is a unique Forex testing software in that it eschews the traditional performance figures way of backtesting, and instead focuses on allowing you to actually see what happens when you combine various technical indicators together, i.e. the kinds of trades it makes and the actual entry and exit points as they happen.
Of course, the drawback of this program is that you can't just plug in your Metatrader 4 expert advisors into the system and run a back test, unlike the previous two programs. You'll have to manually program your EA's entry and exit rules to run an accurate back test, which can be problematic if you aren't savvy in systems development or if you have a "black box" system. Considering that this program is free, that's not surprising.
All in all, I wouldn't recommend Forex Strategy Builder unless you are looking to do a simple backtest with visual results.
So there you have it, the top 3 Forex testing software programs on the market! There's certainly something there for anyone, depending on your own testing needs. I hope that it will help you to maximize your trading system performance and keep your systems viable for the years to come.
by: DivisaFX
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