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Forex Traders: Can Testing Software Help Your Become A Better Trader?

Welcome back!

There must be some reason some Forex traders are more successful than others. Put another way, if two Forex traders were trading the same Forex trading system, why would one gain huge profits and the other struggle to break even? You would think the same system would yield the same results, but it is just not so.

If you’ve even been involved in sports, then you know this to be true.  You might have the same coach, the same equipment and the same teaching of the fundamentals… but there is always some players that are just better than others. But here is the good news, you can practice to become a better trader by using Forex testing software, just like you would practice to master the skill of a sport.

Learning to trade Forex takes time.  But that time is extended if you try to learn on a DEMO account.  And no, I’m not recommending jumping straight to a live trading account. I’m suggesting practicing with Forex simulation software, which allows you to test and practice your trading system faster.

What Is Forex Testing Software?

Basically, Forex testing software resembles a real Forex trading platform (like the popular Metadtrader4).  You download REAL historical data into the software for any number of years, and then you can test your system manually. This is like backtesting an Expert Advisor, but your are testing everything manually.

Here Is An Example Of Using Forex Testing Software

Recently, I took a popular Forex trading system, (Forex Avenger) and put it to the test using a testing software program.  I downloaded real, historical data.  I set up the charts like instructed.  And then I went about trading the system for an entire YEAR in about 3 hours.

The system used a 1 hour chart.  If I was testing this on a DEMO account I would have had to watched the charts every hour on the hour to look for trade set ups.  But with the software, all I had to do was click the “space” bar and move ahead hour by hour. When the trade set up appeared, I would set it up like instructed.  Then click, click, click ahead to see how the trade developed.

There are three great advantages to testing the system in this way…

First… I could tell how the Forex trading system would have performed over an entire year (in this case 2008).

Second… I got a lot of practice!  I did over 130 trades in 3 hours (instead of a year).

Third… I was able to identify potential ways to make the system better that could then be tested over the SAME time period and compared to the original results.

***SIDEBAR***

The first test showed Forex Avenger to be 83% profitable “out of the box”.  Slight changes increased the profits to 279% over the same time period.  A completely different exit strategy increased profits to a stunning 789% Profit!

Check out the full Forex Avenger Case Study

***END***

So, if you’re tired of seeing other traders get better results trading the same system, I suggest practicing with Forex trading software.  Not only will the software help you sharpen your trading skills in record time compared to DEMO trading, but it could help you identify more profitable ways of trading as well. Imagine what being a more skilled trader with a better system will do to your profits!

I’ve written a Special Report with the EXACT steps I took to increase profits by over 700%… and you can get it free!

Click Here For Details

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April 8th, 2009 | Leave a Comment

Forex Avenger Case Study: Bought, Tested And Improved

I recently took the very popular Forex Avenger trading system and put it though its paces using Forex Tester, a Forex trading system software.  I first wanted to prove to myself and my readers that Forex Avenger was a profitable trading system. Then I wanted to see if I could split test the system to make improvements for even more profit. And the results were nothing short of spectacular.

See The Full Case Study With Slide Show & Videos

The Advantage Of Forex Testing Software

Read More …

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April 2nd, 2009 | Leave a Comment

Mechanical Forex Traders: Are you Losing Money With Each Trade?

Mechanical Forex Traders are great at following rules.  As a matter of fact, that is all they do.  They find a Forex trading system with a set of rules, they set up their charts and they make trades according to the rules of the system. And don’t get me wrong, this is a very safe a profitable way to trade in the currency market.

But what if I told you this rigid adhering to rules was costing you money with each trade? You see, there is a question that “rule following” mechanical Forex traders can’t answer.  And that question is… is the system you are following the absolute most profitable way to trade the system?

See How I Improved Forex Avenger From 83% To 789%

The Fear Of Mechanical Forex Traders
Read More …

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April 1st, 2009 | Leave a Comment

Split Test Your Forex Trading System For More Profit

Having a trading system is essential for becoming a successful Forex trader.  And the advice is always to have a plan, and stick to it.  But sometimes sticking to your plan means you are leaving a lot of profit on the table. In this post I want to show the power of split testing your Forex trading systems.

Just imagine… you are trading a Forex system that makes you 20% profit every month.  Your trading plan is easy to follow and consistent… so you stick with it and make your 20% each month. But since you are not trying to make the trading system better by split testing, you’ll never make more than 20%.  What if one small change increased your profit to 55% per month?

See How I Improved Forex Avenger With Split Testing

What Is Split Testing? Read More …

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March 31st, 2009 | 3 Comments

Forex Avenger Case Study: You Don’t Want To Miss This

Over the past few weeks I’ve been working on a project I think you’re going to appreciate… it’s called ForexAvengerCaseStudy.com.

You see, I thought I could do better than just testing Forex trading systems and reporting my findings.  I want you to not only identify Forex trading systems you should consider… but prove they work and make improvements when possible. I want you to succeed at Forex trading by focusing on what works and taking immediate and relentless action… and even INCREASE your profits!

So, here is what I did…

I took a popular Forex trading system (Forex Avenger), and I tested it with Forex Tester for the entire year of 2008.  And then I tested it again for the SAME time period using slightly different trading rules.

And my testing paid off because I figured out how to make improvements of over 200% and 700%!

Here is a slide show and video presentation I did about why I picked Forex Avenger, what you get and how I tested this Forex system:

To see the full Case Study and how I improved this trading system… go to ForexAvenegerCaseStudy.com

Once there, you’ll see how you can get a copy of my Special Report called  “Forex Avenger Profit Booster” for yourselves.

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March 28th, 2009 | Leave a Comment

Mechanical Forex Trading Systems: The Biggest Problem Facing Traders

One of the best ways to trade the Forex Market is to use a mechanical Forex trading system.  By that I mean, follow a predetermined set of rules that dictate when to enter a trade, money management and when to exit the trade. Basically, you just look for the set up according to the rules, and if it presents itself you place and manage the trade.  If the set up is not there, you don’t place the trade.

The point is, if you want to be successful trading Forex, you MUST have a plan, or set of rules to guide your trading. Now, regardless of whether you study everything you can get your hands on about Forex Trading and come up with your own system, or follow a Mechanical Trading System ALREADY producing great results… there is one big problem!

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February 18th, 2009 | Leave a Comment
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