Forex Tester 3: How Backtesting Strategies Saved my Trading Career

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Forex Tester 3 saved my money

Hey traders, this post is a review on the software, Forex Tester 3, that I use everyday for my strategy back testing. If you would like to have a free trial you can get it here.

Lots of people who are struggling with their trading methods for a long time are looking for help on how they can start taking Forex trading as a serious business and quantify their results. I started this blog to help you get to the next stage of being a professional trader who finally knows what he is doing.

Why am I writing to you?

In the last few weeks I got a lot of emails about back-testing tools and your questions are:

Which is the best back-testing software? What is the most affordable testing software? Which software should I choose? Should I use Forex Tester or Traders Gym?

So I want to share my experience with you, and also explain to you a few things about Forex Tester software, why I use it, how to get it, and I will compare FT with other companies.

Forex Tester was founded in 2006, and today it has become the single most powerful and popular Forex back-testing software provider.

Below is my personal experience of how I got to know this company and their software, and how they changed my life.

 

I almost quit Forex trading!

Many of you might not believe it, but i am not a smart person and I learnt everything through the hard way.

Years ago, I was struggling with my trading, because my results were inconsistent. Like many other traders in this market, I was jumping from one strategy to another.

I surfed the internet and forums for trading systems that I agreed with and made sense. I believed firmly in my chosen system and invested time and money into trading it.

Most of the time, the system worked really well at first. But somehow or other, it began to lose big money. That caused me to panic and stop trading the system.

Grunge rubber stamp with word Loser,vector illustration

The next thing i realized, I was again, searching the internet for the next better strategy. Does this sound familiar?

And that became a vicious cycle….

The more money I lost, the more frequently I changed to the next popular trading system. Very soon, I realized that my account was down by 30,000 US dollars.

Now, I know what some of you might be thinking.

30,000 USD might not be that much to some of the traders out there. But to me, 30K was HUGE, because I was just a graduate fresh out of school then.

And that hasn’t even take into account, the months and years that I have wasted on each strategy that didn’t work out. That process was painful and I was already on my way out of this business!

Backtesting became my holy grail

Before I continue….

Sorry guys, I know I am suppose to write a proper review on the software, but please bear with me as the mood came and I feel like sharing my own personal experience. I promise I will write it below later.

Back to what I was saying, I nearly quit trading due to wasting too much time and money. This was when I met my mentor, James W, from my local Forex community, who showed me things that I have never seen before.

There were many things that I have to thank James for. But listen very carefully to what I’m going to say next:

James lent me his copy of Forex Tester 2 (yeap, it was FT2 during that time. I only recently upgraded it to FT3 in year 2016) for a weekend, and that changed my whole trading career forever. He probably didn’t even know it because he was just casually giving me materials, along with some other ebooks.

Here’s what happened over that weekend:

Right off the bat, I ran a quick backtest on my latest strategy to investigate why it failed. True enough, the strategy returns a total loss of 34% at the end of 18 months.

Heck, why didn’t I do this earlier, instead of wasting a year on a lousy strategy?

As you might guess, I spent every minute of that weekend working the software to backtest every single strategy that I knew of.

Without any hesitation, I purchased my own copy of Forex Tester and spent the next 2 months at home, running backtests after backtests.

Now, here comes the scary part: When I put all the strategies to backtest over 10 years of data, only 10% of all the strategies managed to give a profitable outcome.

Yes, you read that right, 10%. Believe me or not. That means 9 out of 10 trading systems out there failed the 10-year test.

Turning point when using Forex Tester 2

That became the turning point of my trading career, as I now only use methods that I have personally tested and proven to work across 5 to 10 years of data.

And that’s only half the story. Having personally tested a strategy through 10 years of data also allows me to have supreme confidence on my strategy even during temporary drawdowns.

If there’s anything I wished I would’ve done differently, that will be to start doing backtest earlier in my trading career.

Your trading strategies and YOU!Forex Tester and you

Enough of my story, lets talk about your experience….

Now, let me ask you a few questions:

For the methods that you’re trading now, where did you learn it from? How did you make sure that your method is profitable in the long run? Are you assuming that it is profitable because other forum members said so? What is the maximum potential drawdown? How far back have you tested the methods yourself? Is trading a business or just your hobby?

For the vast majority traders, the answers to the above questions will mostly be “I don’t know.”

And how do I know?

That’s because I’ve been there and done that! I had sat on that same seat, looked at the same charts, and asked myself the same questions everyday!

I got lucky that someone showed me the “holy grail”. So in return, I will share my “holy grail” with my readers.

OK, I know that my post today might piss a few traders off who refuse to agree with reality. But what’s more important is that I know this post will help many confused traders by helping them see the problems.

But don’t take my word for it. You should always try it out yourself. Click here to download free trial copy of Forex Tester 3, and experience a totally new perspective of the Forex market.

Always keep this in mind. Amateurs have to rely on assumptions and believe what others tell them. Professionals, however, make their own decisions based on facts and testing results.

 

Why Forex Tester 3 and not other software?

New and powerful. Throughout the years I was also offered free usage of other testing software, but I have not yet come across any other software that come close to what Forex Tester 3 software can offer.

So if you ask me, always choose Forex Tester 3 and it should be your first choice. I will show you more benefits of using FT3 now.

Forex Tester 3 banner

Saves your precious time. By back testing your strategy on Forex Tester 3, you will quickly find out whether the strategy is profitable or not. That will otherwise take months or even years of live trading to gain the same insight.

Saves your money. Forex Tester 3 cost $299 for lifetime ownership, and a lifetime of support from their professional team. Actually, you can easily lose more than $299 in one bad trade, and still not learn anything. FT3 will save you tons of money, at least for me. It is really up to individual to decide whether they are ready for the next level.

15 years of historical data. You can choose to start and end your back test period anywhere in the Forex history. No other software can offer anything comparable, as of now.

Free trial download available for traders to experience the power of backtesting. Although free trial version contains only 1 month of historical data, it is often sufficient to make a wise decision base on that.

Market replay and fast-forward. Back test your strategy in market simulation environment. Basically it lets you replay, rewind, fast-forward, pause, restart, etc. Just like trading in MT4 history but with video controls and simulated profit and loss account.

Indicators and drawing tools. You can do nearly everything that you do on MT4, with Forex Tester 3’s extensive range of indicators and tools.

Detailed analysis of strategies. You can export your back test trading results into excel or other compatible formats to carry out in-depth analysis. Check out some of my posts on reviewing strategies.

Lifetime support from professionals. Forex Tester 3 is run by a group of traders, and programmers who started out with the same goal as you and I had. And that is to test and improve on their trading strategies and skills. Having their support is a great tool towards successful trading.

30-day money-back guarantee. So if you don’t like Forex Tester 3 when you buy it, you can get your 100% money back.

 

But FT3 cost slightly more than some other cheaper back testing software? What’s the difference between Forex Tester 3 vs Traders Gym?

Forex Tester 3 vs Traders Gym. Focus on quality back testing data by Forex Tester 3
Focus on quality back testing data by Forex Tester 3

Don’t buy cheap things, please. You might be just wasting your time. Promise me that you’ll either not buy anything, or buy something real and useful that actually worth it and make a difference your trading business.

Here’s something you probably don’t know about…

I had the chance to try out Traders Gym by Trade Interceptor. After spending some time to setup the configurations and stuffs, I found that the maximum testing time is only 5 years.

Although that is what it said on the screen, there was actually only one year of data available for even common pairs like the EUR/USD! I was so angry I wasted my time on that day.

What can you test with just one year of data omg?

Compare that to Forex Tester 3, which provides 15 years of data all the way back from 2001 for all the pairs that they provide data for. There is absolutely no point in using a software that does not have enough quality data to do proper testing. Quality comes with a small price, but then again it’s up to individual preference.

Do yourself the favor today and download the free trial version of Forex Tester 3 and experience it yourself. It’s free anyway!

I hope you will be satisfied with this post and if you have some questions please comment below, or contact me and I will help you with everything.

2 thoughts on “Forex Tester 3: How Backtesting Strategies Saved my Trading Career”

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