Smart Forex Tester Suite – Free Licenses

Smart Forex Tester Suite includes 3 main products: Strategy Tester, Trading Simulator and Pivot Points Analyzer. Our subscribers are granted a free license for each of these stand-alone products.

Once you activate any free license, you can switch between all the above products as many times as you need. Moreover, your free licenses never expire.

You can get your free license directly from the software. This 30 s video shows how.

(if you haven’t done this yet,  subscribe and download the software).

On start-up, you will see the main products menu (click on the image to enlarge):

Smart Forex Tester Suite Products
Smart Forex Tester Suite Products

Here you click the Get free license link opposite the free product you want. (If you are unsure, no problem: just pick any – like we said, you can always switch products later!)

On the next screen you will need to enter your email address you used to subscribe and click Get free license button (click on the image to enlarge):

Smart Forex Tester Suite -license activation
Smart Forex Tester Suite – license activation

The software activates your license. Save your personal code (seen in the Code field) for later – if you want to use the software on another computer.

Next, you need to restart the software to finalize license activation. That’s it – you are good to go!

Now, when you start the software, the link for the product you activated the license for,  will change to Use and all the functional tabs will be visible.

When you want to switch between free products, you will need to repeat the procedure above.  This time, you won’t even need to enter your email.

In addition to free products, Smart Forex Tester Suite offers 2 premium bundles. While free products offer ample functionality which is enough for developing and testing your manual or automated trading strategy, it is the bundles that bring you to completely new level.

Premium bundles not only provide convenience by eliminating the need to switch licenses. Most importantly, they add value because you can use all the bundled products simultaneously – and in any combination.

For example, you can run in the Tester an automated trading strategy that uses the signals from the Analyzer.

Or, you can test semi-automated strategies, where you enter the market manually, but let the automated trader monitor the profits and risks for you (“autopilot” mode). Or the other way around.

As you see, the Smart Forex Tester Suite can be used in lots of different ways.

 

Offline Forex Simulator: Test Your Trading Strategy Even When Markets Are Closed

Offline Forex Simulator is a software tool that fully imitates the markets on our demand – whenever we want it, and even without a connection to Internet.

Offline Simulator is very handy for most of us who have our day job. Watching Forex markets requires time, which is not easy to find during busy weekdays. The Simulator helps to do that during weekends.

How does the Simulator work? It “plays back” saved market data. Similar to watching a video tape – if by video tape we mean a file of price quotes.

A good Offline Forex Simulator provides 100% accurate market modelling quality. For that it must support tick-by-tick data. A “tick” is a new price quote received by the market. For any currency pair, a tick is a combination of 3 numbers: bid price, ask price and time stamp.

The time stamp has an accuracy of up to 1 ms. Such high precision is not excessive.

There can be over ten ticks each second during fast market moves. Which often happen during some events or major news releases. However, ticks can also come as rarely as 1 in a minute, typically in slow Asian sessions.

In this article we will show you step-by-step how you can test your trading strategy with the help of our Offline Forex Simulator.

First of all, you need to download and install the software. It is free for our subscribers. If you haven’t yet subscribed, do it here.

Once you activated your free Forex Simulator license, navigate to the Data tab. This is where you select and load the tick files. The Simulator provides an inbuilt data file for you to try out of the box. The file contains 2 days worth of ticks, which is more than enough to get you started.

We will use the inbuilt file in our example.

Once you have loaded the file, the offline Simulator shows the loaded data interval on a monthly calendar. This doesn’t mean that only 1 month long files are supported. The calendar just shows the 1st month of the data for you to select the start date and time for testing.

Offline Forex Simulator
Offline Forex Simulator – Loaded Sample Data File

You have the options to specify the exact time, or select one of the standard times, corresponding to the start of 3 major trading sessions (USA, Europe and Asia).

Let’s select the time known for the most intensive trading – when the US and European trading sessions start to overlap (at noon GMT) and begin a new simulation with pressing the Start button.

Continue reading…

Smart Forex Tester, Simulator and other products to be integrated

Smart Forex Tester and Simulator are the first products that we have integrated on our new platform. Next products to be integrated are Pivot Points Analyzer and Data Recorder.

Previously, each one was a stand-alone product.

The main rationale behind integration is that all the products share many functional blocks, e.g. data engine or price graph. So integration will speed up our development process and will also help us improve quality.

To make each product available as a stand-alone software, we introduce licensing. Basic individual products will continue to be free for our subscribers, and you can have a free license for each one.

However product bundles will be premium paid products.

Smart Forex Tester, Simulator are integrated
Smart Forex Tester, Simulator are integrated

What it means for you? If you are our subscriber, you will simply need to claim your personal free license for each product that you are interested in. We will email you your personal code and instructions.

Like we said, basic licenses are free – but you will need to reinstall the licenses every time you want to switch between products. Paid bundles will provide convenience by eliminating the need to switch licenses. They will also add value because you can use bundle components simultaneously in any combination.

So be sure to check your inbox for the email with your personal credentials and download instructions.

Stay tuned!

 

Forex testing on historical prices – is one week data enough?

We receive questions from time to time on why our Forex testing tools only support one month of data. These questions obviously arise because Smart Forex Tester and Simulator GUI has a tab with one month calendar.

Forex testing on historical data
Forex testing on historical data

As a matter of fact, both Tester and Simulator can work with unlimited data.

A monthly calendar view was added to provide an easy way to select when to start the test (stopping the test can be obviously done any time).

But on this occasion, it would be good to discuss here whether we really need big data files in Forex testing.

The only argument in favor that we can imagine is the need to test strategies that use long time frames.

But if we really wanted to use such strategy, does it make sense? Do we have enough time for that? And even if we do, we need to have a lot of money invested to satisfy margin requirements. Unless you trade with large sums without any leverage.

And even more questionable are the benefits of testing on the long intervals for the most commonly used optimization methods, when a given set of strategy parameters are permutated to make the strategy work best on the historical data.

Unfortunately, it doesn’t guarantee the strategy will win when used the very next day – whatever long interval you tested it on. This is the reason we use a principally different approach.

We are developing the mechanism to adjust the strategies to the current market automatically on the fly. So, we test our automated trading strategies on 1 week long test data.

There are several reasons behind this testing interval selection. The primary one is continuity in the price quotes. If you leave a position open over weekend, you always risk hitting a price gap. If something happens during the weekend, the gap can easily be several hundred pips. And stops sometimes can not be even triggered.

Next, it takes reasonably short time to run a test on one week of quotes. is not too long to run.

Of course, big price moves can happen during the trading week, as well. However, it’s not a gap – but a very fast moving market. So you might be able to do something yourself and stops might work.

In addition, quite often such turbulence is news related and so can be predicted, as the major news releases are mostly scheduled.

Our approach is to use one week as a standard interval that is easy and quick to run and analyze. Based on the analysis, we select certain data intervals that are worth using later. Mainly, those where the strategies loses systematically.

Only these intervals are worth testing on. Markets quite often just treading water. Testing on such data is just wasting time.

So we prefer to collect a set of test cases that represent the market conditions that are difficult for the strategies to handle. Running the set is an efficient “smoke test” – if the strategy is failing, there is no need to go deeper and run longer tests.

Based on weekly test results, we can select most important parts of the data and us them later as test scenarios. They can be as short as one trading session. Often the market behavior is the same during one session, but the next session might not continue the pattern.

Best is to test overlapping new York and London sessions when the moves are most powerful.

You can use our free Forex Data Manager to slice a month long .csv data files into one week (or smaller) ones.

Smart Forex Tester Free Version At SmartForexTester.com

SmartForexTester.com is our new site that we started to host a free version of our new Smart Forex Tester product.

We already released paid version in the end of 2016. It is built on the new framework – the same we used to develop our Forex Simulator.

The new free Tester version will replace the currently available 0.9.5 software which was developed on the old framework and will be phased out.

Smart Forex Tester Free
Smart Forex Tester free version is released

As the old Tester, the new free version also uses tick-by-tick data only and can test on both historical price quotes and using inbuilt live market data feed.

Considerable improvement is added C++ support – as a means of trading strategy definition.

Also, you can use C++ environment to test EA if you have a source code. After some modifications, MQ code can be compiled in the Tester, and the interfaces are provided similar to MT to support trading operations.

Free download at SmartForexTester.com.

Forex Simulator’s Offline Mode – Practice Trading When Market Is Closed

Using Forex Simulator’s Offline mode is an ideal way to to practice trading when the markets are closed. The software uses historical market data stored locally on your computer, so you don’t even need an Internet connection. You can practice anywhere – and any time you like, not only when the trading is open!

Our Forex Simulator guarantees 100% market modelling quality, as it only uses tick-by-tick data.  You can download high quality tick by tick market data for free e.g. from TrueFX.com. They provide the data as monthly files in CSV format, which the simulator natively supports.

The Simulator provides an inbuilt sample market data file covering 2 full days of trading. Navigate to the Data tab, and follow the instructions there, and you can give offline simulation a try in just seconds after software installation.

Forex Simulator Offline -Market Data
Forex Simulator Offline – Market Data

When you’ve selected the data interval and started an offline simulation run, you will be automatically redirected to the Simulation tab. There you can place market, take profit and stop orders – all as if you were trading on real Forex market.

Forex Simulator Offline -Testing
Forex Simulator Offline -Testing

However, there is an important difference between practicing on live market and with the Forex Simulator offline.

Namely, in our Simulator you can vary the data feed speed and also put data feed on hold. Which is obviously impossible to do if you use a regular demo account.

What are the benefits of these data speed manipulations? Why would we need it?

First of all, pausing the data feed lets you manage your time. You can take breaks whenever you need it, but not when the market  situation allows it.

Secondly, by speeding up the data feed you can save your time. When the markets are moving nowhere, you don’t have to sit and wait for action. At higher speed, you can skip the moments of “dead market” and return to normal speed afterwards.

Finally, you can also slow down the data feed. This might be useful practicing news trading – when the market moves extremely fast.

Read more on Forex Simulator Offline.

Download Forex Simulator and try it yourself – it’s FREE!

Forex Simulator is part of the Smart Forex Tester Suite, which also contains a Strategy Tester and Pivot Points Analyzer.

Once you install the Simulator, you can switch between these stand-alone tools – their licenses are free for our subscribers.

Smart Forex Simulator To Include The C++ Strategy Tester

Smart Forex Simulator will be a new product built by merging current Forex Simulator and Smart Forex Tester.

One rationale behind this change is to improve user experience.

Merging will also make the tool development more efficient, because both current tools share a lot of the same code.

After this change, the tool will no longer be usable without a license.

However, the basic functionality will still be free. So the current users can claim their free licence. Or upgrade to get the premium features.

The following licences will be available:

Online Simulator – free. Offline Simulation and Timeshift in Real Time – paid.

Strategy Tester – free. Max test speed and manual trading operations – paid.

Online Simulator AND Strategy Tester – paid.

 

Forex trading automation: replacement or assistance to manual trading?

Forex trading automation is an attractive option.

The benefits of automation are obvious – you are not chained to your computer and it gives you much less stress. To say nothing of the fact that a computer reacts to opportunities and executes trades way faster and better than you.

The downside of trading automation is also obvious. It is not that easy to develop an algorithm that fully replaces you in all sitiuations.

A question: why can’t we take the best of both worlds?

We tried it with our latest Smart Forex Tester 1.0 software. It has an option to manually override when an automated trading strategy is being run.

Trading automation was represented by a simple strategy that uses 3 RSI of different time frames to enter or exit the market, This strategy obviously only works well when the market is not trending.

For the calm markets, a typical situation where manual control was needed was around the peaks. There was usually a great deal of see-sawing there. And it was not clear whether a peak will hold.

Even such simple algorithm as we used could enter the market well. But fixing the profit was more efficient and easier manually. You could take less risk and if it was not sure the market goes where expected, you usually had a chance to close the trade with a small profit during the see-sawing. Or even small loss was a better option in an uncertain case than relying on a fixed automated stop-loss.

However, the main benefit of the manual control was during the beginning of the trends. Our simple 3 RSI algorithm works very badly on trending market. It will persistently try to enter the market in the direction opposite to the trend and will be stopped out a lot of times.

But even with such a simple system, you can still be successful. Once you notice a trend starting, you can disable the automated strategy and manually take a position in the direction of the trend and just hold it. When the trend is exhausted, you can return the control to the trading atomation.

 

EA Testing Will Be Supported in Smart Forex Tester 1.0

UPDATE 12/27/2016: Smart Forex Tester 1.0 is available!

Expert Advisor (EA) testing will be possible in the next release of Smart Forex Tester, which is planned to be published between Christmas and New Year.

The release 1.0 will use a new platform (similar to that used by the Forex Simulator). The EA testing will be possible both on historical data and on live streaming prices.

The release will be of a prototype level; the main focus of it will be on the integration of EA testing functionality to the new tester framework. Therefore it will support a limited number of indicators and trading functions, and the GUI functionality will be limited as well.

Expert advisors will be tested as the source (MQ4) code. In the initial releases, the main focus in the EA testing will be on the feasibility of Forex trading strategies. Meaning that the highest development priority will get the EA functionality that is responsible for programming the market entry and exit decisions.

The trading features will be implemented reusing the same state machine mechanizm currently supported in the Tester. But this will be made transparent for the EA testing module – by middleware. This layer will be receiving new ticks from the Tester engine and translating trading commands rom EA into the states of the tradiing state machine.

In the next releases, when the core features in the new framework are ready and software is stable enough, more EA functions will be supported. Also the GUI functionality will be brought to the level currently available in the Tester (zoom, mouse operations, etc).

Subscribe and download current release of Smart Forex Tester to be updated automatically.

More information will be posted on  www.expertadvisortest.com.

Forex Trading practice is efficient with the Simulator that supporst Offline mode and Timeshift

Forex trading practice with specialized simulation software is much more efficient than using a regular demo account.

The most important advantage of the Simulator is that it saves you a lot of time.

Why it is possible. There is internal redundancy in the markets: not all the time you spend there is equally valuable. The periods of “dead” markets can take a substantial share of time, but they add very little value (if any!) to your practice.

The Simulator can reduce this redundancy. You can choose to skip the useless time and only practice when there is action! Which is impossible on a demo account: you have to always spend all the time.

Forex Trading Practice Offline with the Simulator
Offline Forex Trading Practice  

How it is working. In Offline mode (principally unavailable on a demo account), the Simulator has pause/resume functionality and provides the data feed speed controls. The same is possible in Online mode, with the Timeshift feature – the Simulator lets you pause the live data stream.

When you resume, you can increase the data speed if the market situation justifies that. In a way, you can “squeeze the air out” of the slow moving markets. Which is nothing else than time saving.

Get free online Forex Simulator.