Forex Tester - professional training software for Forex traders.


by Forex Tester Software - Date: 2007-04-18 - Word Count: 1174 Share This!

The currency market Forex has already ceased to seem exotic, as well as the profession of Forex-trader elite business. The opportunity of participation in the largest market of the planet seems tempting and temptation to make fast money and to grow rich, in fact, was promised by advertising leaflets of all dealing centers and it was impossible to resist. In game there were involved representatives of different layers of the society. However, the statistics eloquently testified: up to 90 % of traders of the Forex market have been losing the money. What is the reason of such results? The basic one is lack of traders' training.

There was the need for the instrument which would allow the trader to be trained not losing his funds (working on an actual account) and not wasting time (training on a demo account). Often to test their trading system traders spend months, pay solid money for round-the-clock access to the Internet and after the lapse of time they found out that this system is unprofitable. The trader changes parameters of the system and all begins again. As the result after a year of such work at the best disappointment of the Forex market arises and in the worst the person loses the savings and creates debts.

Considering the aforesaid, Forex Tester (www.forextester.com) is a professional simulator of the Forex market which eliminates the listed lacks was developed allowing the trader to get necessary skills of work in Forex in reasonable terms and without loss of money. The software emulates the terminal of the trader and does not demand connection to the Internet. Now the trader can test the trading systems calculated for years within hours. The software is intended both for training to trade manually and for testing the automated trading strategies. The user can expose manually comprehensible speed of receipt of quotations, do stops for the analysis of the market situation and in case of acceptance of wrong decisions allows to make recoil back and again to comprehend the situation and to make the true decision. A big set of market indicators and also a set of instruments for graphic analysis are incorporated in the software.

We asked the author of the software, Michael Koshelev, to share with us the sight of the mentioned problems: "The profession of the trader, as well as other professions, demands the appropriate training. At the first sight trading in Forex looks very simple; it is enough to press a couple of keys in the terminal of the trader to give the order on fulfillment of the transaction. Often the beginners are lucky initially and they make some profitable transactions, they feel unjustified confidence of their forces and people hasten to invest serious money. But profitable trading during a long time interval is science, art and craft. The market is a certain environment with the internal rules. Therefore it is necessary for the participant of the market to correspond to the market process: to modify his own behavior, to adjust his/her own preferences to the market laws. Psychology is an exclusively important component of the successful trade. The trader should break the stereotypes borrowed from other spheres of life as trading in many respects is unique - there is no competition as such, no direct dependency between activity and productivity - at times, on the contrary, who does less movements, yields the greatest profit. The trader should understand that he trades not against the depersonalized market, the trader trades with himself - with his expectations.

To help the trader to improve the trading skills and to develop the profitable strategy of work, Forex Tester, which is a simulator of Forex market, has been developed by us. The software is developed in view of the wishes of traders. It is pleasant that it was found useful not only by the beginners, but also by the skilled traders who are trading profitable during several years.





In the software three basic functional blocks are combined: trainings, testing and analysis. At present the training block was already implemented which allows to make transactions on historical quotations with adjustable speed of their submission and the adjustable size of ticks (packages of quotations), once submitted in the schedule. All the perfect transactions find reflection in the list of transactions, there is the automatic calculation of statistics and schedules of the equity, balance, involved margins and drawdown are being displayed. All that allows to trace productivity of the made trading decisions. The trader receives fast feedback between the factors which have induced him to open the position and result of the perfect operation. At training on the demos-accounts offered by Forex-brokers, there are many distracting moments which disseminate attention. These are reading of news and independent analytical articles. Expectation of the outcome of the transaction pushes to infringement of ones own rules discounting the potential of the systematic work. Also the beginning trader replaces his priorities during training in conditions of real time: instead of profitable trading on the first place the desire to appear right in forecasting the market behavior is deduced to prove himself the opportunity to guess the direction of movement of exchange rates. And the process of "guessing" at greater extent is connected with self-deception: the transaction was already closed as unprofitable, only then the rate was displayed and went in the "right" direction, and the trader speaks: «Nevertheless I was right! Next time it will work out". Such an approach prevents to look objectively at things and to estimate ones own abilities.

The accent should be put not on the single result but on the process of trading. This or that approach should provide the statistical advantage. Having made thousand training transactions in our software the trader will start perceiving the trading in another way. The correct attitude to the market will be created. Nothing supernatural is expected from him. The understanding of the inherent restrictions connected with trading in the market comes; more precise reference points on expected potential profitableness are formed, risks are evaluated; and in this connection expectations and behavior are corrected - the purposes are targeted which are possible to aspire and which are really achievable.

The software is supplied with the convenient intuitive interface. Forex Tester allows saving time at training of skills and testing of the approaches not formalized completely with subjective multiplier. First of all the strategies related to recognition of patterns, levels of support/resistance, trend lines, generally speaking - the classical technical analysis.

The software makes the trader to think of the market as about the game and about the rules of this game. The accent on achievement of certain productivity is displaced instead of the abstract reflections about the destiny of the world economy, current market news, forecasts of fundamental analysts. When you think of game, you think - how to win? However, the most important, - there should be no passion - this is a direct way to defeat. Think about Forex as about chess and do not hurry up as in the racing, get yourself prepared for marathon... "

Familiarize with Forex Tester you can on the website - www.forextester.com

Related Tags: money, software, market, profit, trading, training, skills, forex, testing, strategies, profitable, trader, automated, simulator, emulator, analisys

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