It’s been said that practice makes perfect. In fact, in many professional fields such as the medical field, new students endure months, if not years, of formal education, followed by a period of training.
New traders, unfortunately, tend to take a different path. Most new, uninitiated traders believe they can open a live trading account with $10,000 and begin to trade for a living…successfully no less! However, the real path to becoming a professional trader is quite different.
The formula for trading success can be broken down into many components including discipline, risk management, strategy, etc. But one key factor to trading success that is rarely discussed is practice. The reality is that in every other performance based professional field, people practice. In trading, however, most new traders do not practice…or at least not as much as they should before committing to a live account.
Most traders think the only way to practice in the forex market is to demo trade, and once a trader opens a live account, the chances of that trader returning to a demo account are very minimal because live trading is so much more exciting.
There is another option for traders to practice trading in the forex market that is quite appealing – Forex Tester Software.
Forex Tester Software helps new traders to improve their online trading skills without risking any of their hard earned money. Without Forex Tester, a new trader must train in real time, waiting for days and weeks to test their trading ideas and strategies. Forex Tester packs this time into hours and minutes.
The reason most traders do not want to trade on a forex demo account is because during market trading hours they want to be trading their real accounts. With Forex Tester, a trader can go back in history and trade any market period in live simulated action. Thus, a trader could go back through every London trading session in the last few months and re-trade the session as though it were in real time to see how their method performs. The speed is also adjustable, so you can speed it up and trade the first few hours of the London session real time, in complete second-by-second ticks, or you could speed it up and trade it in a matter of minutes.
This forex software is incredibly powerful. The depth of historical pricing is incredible. You can get historical pricing dating back to 2001 on every currency pair, and then run your tests on any time frame and as quick or slow as you like. For advanced programmers, a trader can also program his trading ideas into algorithms and test these out on the trading software.
Perhaps the greatest benefit of all is that Forex Tester Software can be demoed indefinitely. Only 1 month of historical data is included in the demo version, but that is enough for a trader to fully experience the power of this forex software program. A full license is available for only $199, which is quite reasonable considering that many professional programs similar to Forex Tester Software cost thousands of dollars.
In addition to all the great features that Forex Tester Software has, there is also a very active forum full of traders who have purchased this software. So, not only do you get the software, but you also get access to like-minded traders who are on the journey of developing their own trading methodologies.
Remember, practice is an essential element of trading success and Forex Tester Software offers traders an opportunity to practice and refine trading strategies in order to profit in the forex market.