Simulate strategies in real time before running live

Most traders would agree that they'd like to "test drive" a system before using it. Some programs allow this through "back-testing," in which the program uses historical data to execute the trades and show you what they would have been.

This is not always accurate, as there is much data needed to perform a thorough back-test and it's nearly impossible to replicate all the circumstances with just the historical data. In addition, how the system performed in a market last month or last year does not indicate how it will perform in the here and now. The best automated trading software will let you practice stock trading using a live real-time data feed during market hours. This is the preferred method, as it gives traders a very realistic view of how their trading strategy is performing and the ability to feel the highs and lows of daily trading without investing real money. If you can simulate trades, you won't need to open an actual brokerage account until you go "live" with real money. Ask if there is a limit on how long you can run in the simulation mode.

One of the highlights of CoolTrade is its ability to simulate strategies in real time indefinitely before you run them live. CoolTrade has its own data feed, which allows you to run the strategies in a simulator mode. You should also review the size of the trading lots—are they 100 shares or 1000 shares? When you see how the strategy is performing, you can make changes or determine which broker is best to use, based in part, on the size of your trades.

This feature is indispensible, as traders who value their money rarely run a strategy without testing it first.

 

Category: TIPS

5 Forex Mistakes You May Be Making

No matter how long you’ve been trading or how successful you think you are, it’s possible that you’re still making some basic mistakes and don’t even realize it.

Take a look at the 5 most common Forex mistakes that traders make and see how many of them you’re guilty of. You might be surprised and who knows, you may even re-think the way you trade.

How to Install MQL4 Experts Advisors, Indicators and Scripts

Build 600 of MetaTrader 4 was a huge leap forward and has offered a great deal of improvements and benefits to the MQL4 coder, but it comes at a price.

Many users are confused initially and have a hard time navigating around the new interface and finding exactly where to install their expert advisors, indicators and scripts.

Improved Input Settings in MQL4

I choose to see the changes as a good thing and as a simplified transition from MQL4 to MQL5, or a mixture of the two. If you want to continue to code in ‘old school’ MQL4 then you’re free to do so, nobody is forcing anybody to change the way they work to any large degree.

Category: FAQ

Simulate strategies in real time before running live

Most traders would agree that they'd like to "test drive" a system before using it. Some programs allow this through "back-testing," in which the program uses historical data to execute the trades and show you what they would have been.

Easily and intelligently create a stock trading strategy

There should be a step-by-step guide to show novice traders how to create a trading strategy. Are there off-the-shelf strategies that are available for your use? Are there any fees involved or are they offered for free? Can you modify the off the shelf strategies?

Have one long and one short strategy per account

Due to the size of the online trading platform, there may be a limit to the number of strategies that you can have loaded on each account. For example, if you want to run two long trading strategies, you may need two accounts.