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Here's a breakdown of the results from each test. You can see complete recordings of the tests in the video at the top of this page. I also tracked the time that it took to test the strategy, so you can make software decisions based not only on cost, but on time savings. Once I had a trading strategy to test, I started testing it on each software product. So here are a couple of examples on a chart. It helps me to have a visual of how this strategy works.

Since I'm going to be testing this strategy many times with different data sources, this will also give us a very good indication of if this strategy works or not. You can use this worksheet to define a complete strategy.įinally, I'm going to be testing this strategy only on the EURUSD. Remember that most trading “strategies” out there aren't really strategies because they are missing a lot of key definitions. Set and forget, no adjusting of the stops or take profits once the trade is entered.Take profit when price closes on the other side of the 50 SMA.There are other tweaks that I would ordinarily make, but let's start simple. I added as little as possible, to make this a tradable plan. Here's what I had to add, to make this a complete trading strategy. Notice that there are key elements missing from this trading plan. Set the stop on the other side of the 200 SMA.When the 50 crosses over the 200, then enter in the direction of the crossover.Use the 50 and 200 moving averages, I'm assuming the simple moving average.Guidelines From the PostĪnyway, back to the DailyFX guidelines. Ideas are a good start, but too many new traders think that this is a complete strategy, don't test it, and fill in the blanks with their own rules. They are giving you trading ideas, guidelines or concepts.

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Most of the blog posts, YouTube videos and free eBooks on the internet aren't giving you the rules for a trading strategy. This is something important to pay very close attention to. I use quotations because what I found wasn't a complete set of rules.įor future reference, the title of the post is: “Learn Forex: Trend Trading Rules with Moving Average Crosses.” …and it also highlights a few key weaknesses in most of the free trading education on the internet.Īccording to the blog post, the following are the “rules” for the strategy. The entries and exits are fairly straightforward, so you can test it too and verify my results. When I clicked on the link, I was taken to the site with the trading strategy “rules.” This strategy was a perfect test because it's traded on the daily chart, so I could test it quickly. The first legit-looking search result that came up was from the DailyFX website. “moving average crossover strategy forex” So I approached this like a new trader and I Googled: I'm willing to keep an open mind, until I get conclusive proof. My belief was that as soon as two moving averages cross over, you've already missed the easy part of the move. I've never tested moving average crossovers because they didn't make sense to me.

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Best overall manual backtesting softwareĪlright, now that we have that out of the way, let's take a look at the strategy that I'll be testing.

Here are the categories that I'll be judging these software solutions on: The price might go up in the future, but it currently qualifies, as of the original writing of this post.

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If you upgrade to the higher plans, then you would be over $200 per year.

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I'm using the Pro version of TradingView, which is currently less than the $200 per year minimum. I'll explain why I've included it in a bit. You might think that Excel doesn't belong on this list. However, they frequently have sales where you can get it for less than $140, which qualifies it for this test.

Yes, the regular price of Forex Tester 4 is $299. You might have a few questions about these products, so I'll clarify my choices.

TradingView (free and paid, subscription).

Think Trader, formerly Trade Interceptor (free).

The Challengersīased on the criteria above, I rounded up the following challengers:

The software must be able to backtest the Forex marketįrom there, I'll backtest a trading strategy that I know nothing about, then reveal the results.Īctually doing the backtesting will reveal a lot about the software.

The software must be able to be used for manual backtesting.

The software can be purchased for less than $200 total (for one-time downloads), or less than $200 per year (for subscription products).

I wanted to test trading products that would be affordable for most traders, so here's the criteria I used: