[bossxero]

Originally Posted by quantem

Here is a great tool to help you get experince faster, by trading on a simulated market. You can enter and exit trades like you would in a real market, so it gives you a more realistic feeling.

You can speed it up, and slow it down as well. I have been able to practice trade a month in about 1 hour using this tool.

The system runs in MetaTrader 4

When learning to trade, there's no substitute for experience. A trader who has spent many months trading a live market will have a feel for the market that is almost impossible to explain.

They will see the pitfalls in some stuations by just recognising similar price action. If you have this experience, you will know exactly what I'm talking about, if you don't have it yet, you wont.

A live market is very different from looking back through charts or backtesting. When you backtest, you can see the bars that are coming, and there is no real stress involved. It's easy to see what signals would have worked, and which ones did not. When it comes to trading for real, you can't see what's coming, and that is a very different dynamic indeed.

Using this tool, you can trade a few months in only a few hours and then easily print out the results, and see how you well you did. You can also make mistakes and recognise them in a safe situation.

Granted it's not as real as using live money but its 10 times more realistic than backtesting. If you treat it as a challenge, it actually creates a pretty realistic view of how well you could potentially do with any system or method.

I personally think it's the second best learning aid there is. Number 1 is live trading but that can be expensive!

Thats indeed a valuable tool for anyone... anyone I mean, both the newbie and the pro. Till now it had been a bit difficult to test and develop manual traidng skills but this cute little piece of soft shared by our friend here have finially overcome this barrier... no need to go and buy software like forex tester... this one works on MT4 and we are already at ease with this soft... lots of thanks my friend... Hope the fx community will appreciate this work as much as I do.

All the best

Note: Made this thread Sticky