How to Backtest a Strategy in Forex (Backtesting Guide ...
How to Manually Backtest a Trading Strategy on MT4 and MT5
No amount of demo trading will prepare you for live account.
First of all, I'm not against demo trading. However, no matter the amount of time you spend trading demo, it can never prepare you for living trading. Demo is good for 4 main things:
Introducing you to forex
Understading the mechanics of your trading platform (eg. mt4 or ctrader)
Backtesting a strategy.
Briefly forward-testing a strategy.
The number 1 reason retail traders fail is because of trading psychology. Any basic trading strategy like a simple MA crossover can make you successful if you manage your emotions as a trader. Moving of Stop loss, refusing to set stop loss, letting losses ride while closing profits as quickly as possible are all about problems with your trading psychology and no amount of demo trading will teach you to be better because you are simply not invested in the trades. People recommend trading demo for 6 months or 1 year and that's simply wrong. We have all been at a point where we even forgot about a trade only to open metatrader hours or even days later to see it in profit. There's no lesson learnt here. The 6 months or 1 year you spent trading demo would have been worthwhile if you had gone live with $100 and try taking it to $1,000 over a period of 1 year with a strategy. Don't waste too much time on demo. Find a strategy, backtest it with at least 10 years of data and see if it's worthwhile then move to live. Trading, like every other career, involves cost and consider that first $100 account (which you will probably blow) as part of your cost of training. Stop wasting time on demo. Trading is probably 10% strategy, 90% psychology. Only live account will teach you about psychology.
College forex trader - would appreciate some help!
So a few months ago, someone I had met in the first few weeks of my first semester at college, had been posting pictures of his MT4 account with his profits, and I was pretty intrigued. I asked him what it was, and he said it was the Forex market, so I wanted to learn more and asked to meet up with him. When we met he was explaining it a little more and told me that he was in this networking trade group called IMarketsLive and went on to offer for me to sign up, upon which I said I wanna do a little research before I sign up for anything. And so I did, and saw a lot of different opinions about IML and the things they do, and I wasn't really attracted to the networking aspect and also did not want to start paying $275 a month just to be in the group. It seemed to me like it was kind of a pyramid scheme, so I turned down the offer but decided to try to learn about the Forex market for free on my own. I started doing more research about it in my free time, and eventually I discovered the BabyPips website where you can go through around a 330 lesson course, which goes through a lot of the basics and foundations of Forex trading. I made it through that in about a month and a half or so, and then opened up a demo account with IG. I watch a lot of youtube so more and more videos about forex started popping up in my recommended and have definitely helped along the road. One thing I saw is not to have a demo account for too long, so after around a month of having the demo and getting a little profit, I opened a live account with $300 on Oanda. I use their online trading platform and it's alright, there are some things I liked better with IG but that's besides the point. I've been trading with lots of 500 units or less so I'm only down about $6, but I feel like I'm kind of stuck. After all the stuff I've read and watched so far, I've come to understand that there are some key things every trader needs to do. From what I've seen, it's
develop and backtest a trading plan and follow it strictly
always use stop losses
have good risk management
have balance of technical and fundamental analysis (which I recently realized as I hadn't studied any fundamentals)
keep a trading journal
don't over leverage
have a good trading psychology
keep it simple
Among a few other things I might be forgetting, I understand these are crucial points to follow to become a successful trader. The only thing is I feel like I've flooded myself with so much information and I really don't know where to go from here. I don't have a trading plan mainly because the best thing I've heard to do is make one that fits my trading style, but simply put I don't know what my trading style is and don't know how to actually construct a usable plan. I know many people join the market because of the dream of turning $25 into a million dollars, however I don't have that mindset. Also I know I should focus first on preserving my capital and being consistent rather than focus on getting a lot of money, I just don't know how to do this. I am ready to put more effort into the market, I just don't know where to put it. Another thing to note is that for when I am ready and have developed a proper strategy and everything, I have sufficient capital (around $3k) to actually start making some serious profit. (for a 19 y/o!) Anyways, if you would like to give any advice, tips, things to avoid, stories, anything - that would be greatly appreciated! Thanks for reading👍 EDIT: This is my first time using reddit so I can't reply to anything because I don't have enough karma whatever that means. But thanks for your responses, they will definitely help me to start building my own strategy.
Being new to forex would it be more beneficial for me to learn Ctrader platform because it is more up to date and MT4 is becoming more outdated? I currently have no interest in trading with bots. I would rather fully understand the market so I can tweak my own strategy, rather than have a bot trade for me and not understand where my profit/loss came from. Also which platform is better for a Forex Simulator so I can Backtest my strategies?
Do you think someone will buy my C++ source code of a backtest/trade system?
Hi all, This is not an AD, but I'm asking your opinion whether someone may be interested in my system, or whehter it's worth that I do some work to find a buyer. This is a backtesting and trade system, not strategy. Main functions and features: * Written in C++, using Qt framework. Can run on Windows, Linux, and Mac. * Console program, very fast. * Currently only support Forex, but it's easy to extend to support other markets, such as Stock. * Backtesting. Candle bar based backtesting. It's not difficult to support tick based backtesting. * Optimization. Currently only brute force is supported, but it's quite easy to plug in other methods. * Walkforward testing. * Multiple threading. OpenMp is used for multithreading, each backtesting task is allocated on a CPU core. * One robot can use multiple instruments and multiple time frames. * Live trading system. Currently Oanda REST API is implemented. One robot can place buy/sell order on different account, to avoid no-hedging limitation. I have used it on my live account, and it works well. * Any more trade platforms should be able to be integrated to the system, such as FIX, but I didnt do any investigation yet. * Some indicators are included. MA, RSI, MACD, PSAR, etc, using ta_lib. New indicators can be developed easily. * Dukascopy data download. Incremental download tick data from Dukascopy, very fast. * Oanda data download. Using Oanda REST API, incremental, very fast. * Simple charting. So the report contains a balance chart, very intuitive. * Some other features, such as convert Dukascopy tick data to internal candle binary data, convert candle data to MT4 CSV, etc. * Unit testing. Some key components are unit tested. * High quality code. I'm an experienced developer. You can check my code quality and style from my open source C++ library, cpgf, on github, though it's not finance related. * Very good performance. The bar based backtesting system is highly optimized. * Since the architecture is good, the system can be used as either a program or a library. * About 50K lines of C++ code. * I spent about one year partial time on it. My question is, do you think anyone will be interested to buy my source code? And how much do you think I should charge for? Or beside selling the source code, what do you think I can do to earn some money via the system? My original purpose developing such a system is to use by myself, but I'm not sure when I can find a good strategy to earn some money for me. Thanks
How to Backtest in MT4. The Strategy Tester inside MT4 is a powerful tool that can help you develop automated trading strategies. Learn how to use it, even if you're a complete beginner. Home / Trading Platform Tutorials / How to Backtest in MT4. By: Hugh Kimura Last Updated: August 24, 2020. The great part about MetaTrader 4 is that you can create automated trading strategies called Expert ... Before you run backtest Forex trading strategies (EA) you should check if Tick Data Suite 2 is loaded with your MT4 platform. If TDS2 is loaded you will see a button "Tick data settings" and a checkbox "Use tick data" in the MT4 Strategy Tester. You might need to resize your MT4 window to make it wide enough for those options to appear. Also, if TDS2 is loaded, then you should see additional ... Choose a forex pair or instrument to backtest your strategy on. Open a chart of the market and scroll back to a past period. Look for trade setups based on your strategy. Record the trade’s information such as entry and exit points, stop-loss and take-profit levels, and the trade result. If there is no trade setup, move the chart forward in time until you find one. Repeat steps 3 and 4 until ... Das Layout von Forex Tester 3 ist dem von MetaTrader 4 (MT4) ähnlich. Forex Tester. MetaTrader 4. Obgleich es sich nicht um eine exakte Nachbildung handelt, werden Benutzer von MetaTrader 4 feststellen, dass ihnen Forex Tester 3 vertraut vorkommt. Das ist ein großer Vorteil. Wenn Sie ein erfahrener Nutzer von MT4 sind, verkürzt diese vertraute Gestaltung Ihren Lernaufwand. Wenn Sie noch ... The MT4 platform contains a 'Forex Simulator' that allows traders to rewind the time on their charts and replay the markets on any particular day. Orders can be placed, modified, and closed just like one would do under live trading conditions. Compared to Demo trading and other forms of Forex paper trading, trading on historical data can save a lot of time. The speed of the simulation can also ... If you are unsure what these are or if you need to download a free demo platform see here; ... How to Manually Backtest on MT4 and MT5. Once you have downloaded and set up your charts, the process of backtesting is easy once you know how. There are a few variations on how you can do it depending on what you are trying to achieve. First of all make sure that the “Scroll the chart to the end ... I’ve received several comments from human traders asking how I am able to run backtests using expert advisors on the MT4 platform. It has come to my attention that newbie traders could appreciate a quick how-to on using the handy-dandy Strategy Tester feature of MT4 so I decided to write a quick guide to help y’all get started.
How To Backtest An Indicator With Metatrader 4 - YouTube
In this video you can see how to backtest an Expert Advisor (EA) in the Metatrader 4 (MT4) platform. https://mql4tradingautomation.com/metatrader-backtesting... In this video you can see how to backtest an indicator in the Metatrader 4 (MT4) platform. https://mql4tradingautomation.com/metatrader-backtesting-expert-ad... How To Pay Off Your Mortgage Fast Using Velocity Banking How To Pay Off Your Mortgage In 5-7 Years - Duration: 41:34. Think Wealthy with Mike Adams 860,021 views Backtesting Forex Expert Advisors is a free lecture from our new basic course MetaTrader 4 Forex platform: Start trading with a pro trader. Find the complete course on this link: The FREE MT4 Platform Strategy Tester tests indicators. Visualize the testing in action. Learn How Visualize the testing in action. Learn How - Duration: 12:31. Das Backtesting einer Strategie ist enorm wichtig für ein erfolgreiches Trading. In unserem Webinar diese Woche werden wir die Verbesserung des Backtestings auf dem MT4 Plattform und wie man im ... Demonstrates how to back-test your Expert Advisers (EAs) with Metatrader and get 99% modelling quality in 5 simple steps. The back-test is executed with qualit...