Validate your Forex Trading Strategy with the New Forex Tester 3 - Review
FREE: The Complete Price Action Strategy Checklist
Grab Forex Tester 3 + my Backtesting Mini-Course (details here: http://bit.ly/2oyYVDi): http://www.desiretotrade.com/forextester/
Risk-Of-Ruin Calculator: https://2ndskiesforex.com/risk-of-ruin-calculator/
Interview with Brent Penfold: http://www.desiretotrade.com/brent-penfold/
Note: This post started as a Forex Tester 3 review, but I decided to turn it into a Backtesting Guide showing you how to validate your Forex trading strategy, which (I hope) will be more valuable to you.
If I had to pick one thing that boosted my confidence & certainty in my ability to succeed in Forex trading, it’s the decision to start backtesting. What if I were telling you that the only thing between you (right now) and you (the successful trader) is taking the time to validate your Forex trading strategy?
That could very well be the case – because the moment you start to test your trading strategy, you get to see whether your edge truly exists in the market.
And according to Mike Bellafiore, having an edge is a MUST for any trader. That’s also common-sense.
For a Forex trader, a popular tool to achieve that purpose is Forex Tester 3. But there are other alternatives!
Why Validate Your Forex Trading Strategy? Is Forex Tester 3 worth it?
I get it...it can be scary to backtest. Everything you've been trying to trade might turn out to be unprofitable in reality. Backtesting is like this make-it-or-break-it moment where you'll get to see what you can truly expect as a trader.
Here's the key, you can't expect to become a full-time/professional trader until you sit down to validate your Forex trading strategy. In addition, will all the non-reliable Forex teachers online, you'd better make sure that what you do is solidly tested.
Why Using Forex Tester 3 For Your Backtesting
In How To: Backtesting A Trading Strategy The Right Way, I discussed how and why I was often backtesting my trading strategies manually. Most often than not, I'm on-the-go and don't have access to a backtesting software (especially when all you have is a Macbook Air).
However since I got home a couple of weeks ago, I got interested in trying out Forex Tester 3 - a Forex backtesting software that has launched only recently (at the time I publish this article). It has been created to make the process of validating your currency trading strategy much simpler and time-efficient.
The software surely still has some drawbacks that I'll address below, but it allowed me to find and test a way to improve my current trading strategy in about 2 hours.
Forex Trader Community (Facebook Group): http://bit.ly/2esoMYj
// About Me
My name is Etienne Crete (from Montreal, Canada). I'm a swing Forex trader and help aspiring Forex traders develop a trading method that works for them so they can produce income allowing them to live with more freedom.
I blog at www.desiretotrade.com and host the Desire To Trade Podcast. I was fed up with the “fake” millionaire traders and the “get-rich-quick-trading guys”. That's why you can expect more free content from me than what other people charge for!
If you truly want to succeed in Forex trading, I believe you need to keep working on yourself so you can improve your strengths, but also your weaknesses. Do not focus solely on what you're good at.
This video expresses my personal opinion only. Forex trading is risky. Make sure you are ready to trade. Even this will not guarantee you positive results. I am not responsible for any losses incurred due to your trading or anything else. I do not recommend any specific trade or action.
// Get the Forex Day Trading Success Cheat Sheet for FREE!
// Check out the Desire To Trade Podcast - Trading Tips & Interviews with Successful Traders: http://bit.ly/2dGNOyQ
For a lot of article and tips that will help you develop Forex trading skills for more freedom: http://www.desiretotrade.com
// You Might Also Like...
This Guy Tells You Exactly How To Trade Forex Full-Time And Make A Living! - https://www.youtube.com/watch?v=P6H6VHP5fX0
I Met Up With A Professional Trader Today (Invaluable Advice)! - https://www.youtube.com/watch?v=svkcsO2vzys
How To Create Your Forex Trading Strategy & Make It Profitable... As I Explore West Lake In Hangzhou - https://www.youtube.com/watch?v=Zb5X7k2JanY
Complete Trading Strategy With The Engulfing Pattern - Price Action - https://www.youtube.com/watch?v=WqTrn92CFBw
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