Get Forex Experience Faster Using a Trading Simulator

[welly192]

Awesome tool, Thank you very much!

[Wouste]

Verry nice tool indeed! It's easier to test things out with this tool.

[dambrosmarket]

I just want to ask to all of you with experience here about Mt4 and simulator, What is the difference between them? Because with MT4 I can see the real market and just play with a “fake” money, so I get confuse.

[ry3]

Originally Posted by dambrosmarket

I just want to ask to all of you with experience here about Mt4 and simulator, What is the difference between them? Because with MT4 I can see the real market and just play with a “fake” money, so I get confuse.

With the simulator I can manually backtest a week's worth of data in about 6 hours. With live data, you can spend hours sitting around waiting out slow or choppy markets. I'm not a pro, but it seems that the more patterns you see and play in a given timeframe the faster you can make recognizing them implicit.

[bossxero]

Originally Posted by ry3

With the simulator I can manually backtest a week's worth of data in about 6 hours. With live data, you can spend hours sitting around waiting out slow or choppy markets. I'm not a pro, but it seems that the more patterns you see and play in a given timeframe the faster you can make recognizing them implicit.

Thats really great... It is a very good tool.

[Dr.Hofmann]

I’ve been a little skeptical regarding backtesting process as I have understood that backtest results can always be faked by a process known as curve-fitting. What can you tell me about that in the particular case of this simulator?

[Reealjrd]

Originally Posted by Dr.Hofmann

I’ve been a little skeptical regarding backtesting process as I have understood that backtest results can always be faked by a process known as curve-fitting. What can you tell me about that in the particular case of this simulator?

Yes it is. Why are going to back test it. If you are really interested in forex learn more about it and enter this market. Use trading tools to trade this market.

[abuweng]

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!

[geniusyu]

nice tool....will give it a try

[samyg]

I’m Samantha, I’m new here & I’d like to learn more about this, I’ll try this simulator. tx

PDT: As I’m new I would really appreciate any advise you have for me.