There are more than a few things which need to be taken into consideration when it comes to making sure that a trade in Forex will come up with profits. For newcomers like you, making the best of every single trade is something which you need to keep an eye out for and back-testing is an important thing to keep in mind. There’s nothing better than a strategy or a forecast from a technical tool which will give you profits no questions asked. But making sure that it happens in the first place is what you need to do. Forex Tester 2015 – this is a new build to the simple 1st gen software.
This build is meant for and only for newcomers who want a simplistic back-testing tool to know how to use the more serious ones. There are much more complex versions such as the 2nd generation and the recently launched Forex Tester 3. But Simple Forex Tester 2015 comes with the basics, and it’s meant for beginners like you to get a feel of the market.
Forex Tester 2015: Learning Back-Testing the easy way up:
As mentioned before, there are more than a few things which need to be taken into consideration when it comes to foreign exchange trading. Back-testing will give you an environment of past market data. You can test a strategy out in this market screen comprised of price action which has happened before. As obvious, it will give you a complete idea of how it will work out in live market scenarios. And the same applies to a technical tool. But this is just half of the story.
Forex Tester 2015 comes with simplistic functions and navigation, easy for a newcomer like you to understand. A matter of fact is, other than simply testing how a strategy will turn out this version is aimed to learn how to make the best of either of them in the first place.
For example, with this, you can understand how and when to best use MACD for forecasts. Market situations define how to use these tools, that is, there is no given way which you can take as a constant when these functions are to be used or not.
Devising the best strategies as per forecasts:
Leaving day-trading out of this would be worthwhile as it is something which a newcomer is strictly advised against in the first place. However, you need to know when to go long and when a carry trade will give you steady returns.
The past market data in Forex Tester 2015 gives you a perfect platform to learn from specific market situations. You can synchronize your forecasts with these price action patterns and learn from them to apply them later on with live trades.
Learning trading for newcomers is something which is fundamental to your future as a professional foreign exchange trader. Forex Tester 2015 comes with an interface and functions which are simply meant for a newcomer like you to learn trading properly.
Learn. Invest. Prosper.
The content of this article reflects the author’s opinion and does not necessarily reflect the official position of LiteForex. The material published on this page is provided for informational purposes only and should not be considered as the provision of investment advice for the purposes of Directive 2004/39/EC.