Forex Tester Online Review (Best Backtesting Software)

Forex Tester Online is the best back testing software.

I say this, only because I mean it, and today I’m going to tell how I use it to increase my trading win rate.

In fact, my win rate last month was 88% in my trading room, the highest win rate I’ve had all year, and it’s no surprise that this just happens to be the first month I started using the FTO software.

Forex Tester Online Review

Now, if you’re new to trading, you likely already know the importance of backtesting your trading strategy. Historically, I used TradingView for this purpose, but it’s simply not as accurate as Forex Tester Online.

You can see in this image below that you can set up risk reward boxes, draw on the chart easily, and quickly go back and forth. I really like that you can just hit the space bar to go forward one candle, and backspace to go back.

Now, instead of going through every single feature and boring you, I’m going to walk you through backtesting my strategy, with images using Forex Tester Online.

1. Jumping to the current month

Let’s use GOLD, last month I had an incredible month in my gold trading room, so gold (xauusd) is fresh on my mind.

So, the first thing I do is click “Jump To” and then I want to select the current or last month.

So right now, I would be looking at mid October.

Then I have a fresh chart, that I can start testing with.

2. Doing my technical analysis on the chart

Now I have my chart, I start doing my technical analysis.

I set up my support & resistance levels, my profit targets and then I can completely simulate the trades.

On this trade, I have a strong level of support, and I have a trend line that I was waiting to be broken. This is a 1 minute trade using my wave continuation strategy, which uses some concepts from Larry Williams (famous trader).

What I’m looking for is the market to be moving in waves from an extreme support to an extreme resistance. In order to get a perfect high win rate entry, I want to mark up the minor support in the middle of the wave.

Once I get a reaction to the extreme support level, a break of the trendline, a break and retest of the minor support I’m able to take my position in the backtesting software.

3. Placing a trade in Forex Tester Online

First, I’m just clicking place order. Located in the top navigation bar.

Then, I set the type of order. I can do a market execution, a limit order or a stop order. The Forex Tester Online also lets you set the lot size, stop loss & take profit.

The stop loss & take profit can also be adjusted on the chart once you’ve set the trade up. So, you don’t have to have the perfect TP & SL right away.

Now once you have your trade on the chart, you can start your test.

At the top right of this image you can see the option to adjust the speed and then click play. The candles will move up and down exactly as they did in the live market using accurate data that comes with the Forex Tester Online backtesting software.

The trade can then play out.

You can have your TP & SL set as I explained above, or you can manually exit the position whenever you want. It’s also helpful to know that you can use space bar to move forward one candle or back space to go back one candle at any point in time. Which makes testing very very easy.

4. Tracking your results (how effective is your trading strategy?)

Now, there’s multiple purposes for using the back testing, and you don’t need to track your results, but you can.

So, as you can see here, my trading position closed.

This was actually a real trading signal that I sent in my VIP GOLD trading room just a few days ago.

I frequently like to use the Forex Tester Online to show my live trades in play back, as it’s much more accurate than metatrader for this purpose. I find the data is really on point with FTO.

So now that we have a winning trade, we can track this in our trade history.

On the bottom left of your screen, just click on “history.”

This will pull up the trade history, it will show how much you deposited originally, and then the profit made from that one trade.

As you take more trades, testing your strategy on as many pairs as you want simultaneously, you can see how your trading strategy would perform.

Now, you can go back to 6 years ago and see if your strategy works then, but I don’t find that helpful personally.

The market is always changing, and shifting. So a strategy that may have worked in 2008, likely isn’t still working in 2024.

So, I highly recommend taking your trading principles and testing them over the past 1-2 months, on your favorite 1-2 pairs. If you have a strong win rate, and you have a half decent risk reward ratio then you can take the strategy to a demo, a live account or even a funded account.

Conclusion

Look, there’s way more features and ways to use Forex Trader Online than I laid out in today’s review. But it’s not my goal to simply read off their website.

I wanted to show you how I actually use the FTO to backtest my trading strategies in current market conditions so that I can win more trades in my personal accounts and most importantly in the free forex signals I send out to over 70,000 traders each week.

Do I think this software will be for every trader? No.

Do I think it’s helpful in my trading? Yes, absolutely.

Last month I had an 87% win rate combined between my two trading rooms.

This month I’m at 100% with 3 straight wins to start the month.

I do believe that Forex Tester Online is playing a large role in my current success, so I do think you should give it a try, and see if it helps you round out your trading strategy.

Much love.