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Dubai: When Bernd Skorupinski came to Dubai by way of Germany six years ago, he had no idea he would leave his job to become a fulltime trader. Foreign exchange currency trading, commonly referred to as forex, is a market where banks, businesses, investors and traders come to exchange and speculate on rising or dropping currencies. But to Skorupinski, the appeal to trade came from not only investing in an open market that requires little to feed and leverage, but also investing in himself. According to Abu Hantash, forex trading is more popular in the UAE than ever before, citing the number viet jet ipo brokers that have sprang up.

Backtesting forex mt4 forex video courses

Backtesting forex mt4

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When you look a the code or to a standard backtest, it can be difficult to see where the EA is making mistakes or how your settings are affecting the results. Therefore, this method of testing is not geared for speed, but it's a way to visually spot issues or optimizations.

Now that you have a good feel for how the Strategy Tester works, you can start optimizing some of your parameters. It would be great if there was some sort of fancy AI powered optimization algorithm, but unfortunately there isn't. Strategy Tester uses a very simple iterative process of trying different EA settings and showing you the results. But that can be a good thing. When you use an AI, you don't quite know what it's doing in the background. With the MT4 optimization process however, you know exactly what's happening and identifying the best settings is a straightforward process.

The way that MT4 optimizes your EA settings is by allowing you to set a starting, ending, and step up value for each of your EA settings. For example, here are the settings that are available for the EA that I'm using in this example. If you use a starting value of 10, a step value of 10 and stop value of 30, MetaTrader 4 will test 20 and 30 only.

It will not test the starting value of Therefore, it helps to start off by testing one input at a time and use larger step intervals. Once you get an idea of what works, you can start to fine tune the settings. After you get results that you like, be sure to do one last test with the normal Strategy Tester settings to make sure that all of your new settings work well together. You can start by taking a look at the MetaTrader EA repository.

This will give you a good idea of what is out there. However, you'll quickly see that there are a ton of EAs, but you don't know how most of them trade. If you don't know how they work, how will you know when they stop working? Therefore, the best thing to do is to learn a trading strategy, test it, then create your own EA. Even if you don't know how to program in MT4, you can always find a programmer to create an EA for you.

To see the programmers I use, go here. You may notice that there are two different types of EA files. This section will explain the difference. There are two different types of files because there is one file that humans can read and one file that that MetaTrader can read. The file that human programmers can read the.

When you add a. If you purchase an EA on the internet, it will usually come in. This is because the. One final note on these files…before working with a programmer, be sure that they will give you the. That shouldn't be a problem since you're paying them. To get help with finding a MetaTrader 4 programmer, I have created this guide and list of programmers. Finding an EA that will make you money while you sleep is a sexy idea.

But remember that there are no free lunches in trading. That may sound obvious, but when an EA hits a losing streak, it can be very tempting to turn it off to stop the bleeding. So remember that you have to understand the statistical characteristics of your EA, so you know when it is doing something that's out of the ordinary.

For example, if your backtesting shows that you should only have a maximum of 5 losses in a row, but your EA has currently lost 10 trades in a row, then it's probably time to turn it off and evaluate what's going on. However, you certainly shouldn't turn it off after 6 losses in a row, no matter how mentally painful that is. Based on your stats, that's usually the time when it should start winning again.

Second, many new traders don't test their strategy enough and jump into live trading too quickly. To configure Tick Data Suite 2 and choose how you want backtest to be performed you need to open TDS2 settings window by clicking the " Tick data settings " button. In this example I enable variable Spread and click OK. Choose which Expert Advisor you want to test and click " Expert Properties " to set your desired parameters. Most of the Expert Advisors have at least few parameters you can set.

In the " Inputs " tab you can set them the way you want for this particular test. You will find all variables settings listed in the Inputs tab. Ignore columns Start, Step, Stop. You do not need them now, because they are for EA optimization and not used during a backtest. Next step is to select currency pair Symbol and its time frame. Then you need to select " Every Tick " as your modelling type.

It has no effect if you change the Spread here. Tick Data Suite 2 will override this setting and use real variable Spread, because I have set it that way in the previous step. Strategy Tester allows you to select date range for the test. If it's not selected, like in this example, backtest will be performed on all available history price data. When you done setting parameters click " Start " to begin the test. It might take a while depending on how long the date range is, EA algorithm and your computer power.

After backtest is finished you can see the results. In the " Report " section you can see more results of the backtest including the modelling quality number as well. Additionally you can find full trade list generated during the test in the " Results " tab.

To find if there were any errors see the " Journal ". But there's a better way to run backtests and you will learn it in this tutorial. Written by www. Below you see two backtest results of the same Expert Advisor. It's obvious that this EA is not worth wasting anyone's time and money, because it's clearly visible it fails to perform when spread is variable and charging every tick which is what happens all the time in the markets. MetaTrader client terminal It's obviously you'll need to have MT4 platform installed on your computer in order to run any kind of backtest using MT4 Strategy Tester.

Tick Data Suite is not free, but it's price is quite reasonable. Why choose Tick Data Suite 2. Saves Disk Space Tick data downloaded by Tick Data Manager is compressed using special algorithm so it takes less disk space. Switch Time Zones Easily switch between time zones and DST settings without the need to re-download and re-convert the data. Custom Environments You can create custom backtest environments to match the settings of any broker or any trading account.

Use Variable Spread TDS2 is the only software which allows to use variable Spread during the backtest and even customize it. Apply Slippage TDS2 has an option to simulate the slippage during the backtest. Let's setup your MT4 backtesting environment. Before you can run any backtest you'll need to prepare your backtesting environment which is to download, install and configure required software.

STEP 1. Download Tick Data Suite 2 from Birt's website. Downloaded installation file of Tick Data Suite 2. Tick Data Suite 2 auto-installer launched. Install Tick Data Suite 2 prerequisites if asked. Shortcut to Tick Data Manager on computer's desktop. STEP 2. Once you are ready click the " Start download ". You can also pause, cancel, delete tasks if necessary.

Tick Data for multiple instruments downloaded in the Tick Data Manager. Other columns show more information. STEP 3. Downloaded MT4 installation file. MT4 installation process. Shortcut to launch MT4 client terminal. Choosing MT4 server for new account.

Once MT4 loaded, you need to create a demo account. MT4 Login window. STEP 4. Tick Data Suite menu and settings integrated into MT4 platform. Select Expert Advisor and set its properties. Set Expert Advisor inputs settings. Select symbol, time frame and modelling type in MT4 Strategy Tester. Set the date range for backtest in the MT4 Strategy Tester. But if you need to test the strategy only during specific date range you can easily do that.

To restart the test again go to the " Settings " tab. Register to Webinar.

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Backtesting in trading is a method of evaluating a certain strategy by applying it to the historical market data. Backtesting is a very simple process. Open the Strategy Tester in MetaTrader 4 (Ctrl+R), select the expert advisor to test from the drop-down list, select the. MetaTrader 4 Strategy Tester is designed for testing and optimizing trading robots before using them in real trading. It is based on historical quote data.