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Linking Equity From Forex Tester

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You can directly connect your Forex Smart Tools Calculator to the Forex Tester to accurately plan position sizes for your trades. In this article we explain how to get everything set up to bring your Equity from the Tester into the Calculator. The next article will cover using historical prices for even more accurate position sizing.

1 – Download the Link

This file will work for Version 2, 3 or 4 of the Forex Tester.
CLICK TO DOWNLOAD, save it to disk (don’t choose open or run) – Then extract the zipped filed.

Make sure to extract the zip file before installing it into the Tester.

2 – Install the Link

The FSTlink.dll must now be installed into the Forex Tester. This is a one-time operation that you won’t need to repeat unless you change computers.

Open Forex Tester.

Go to FILE > Install : Install New Strategy

You will then get a dialog box where you can locate and select the file to install. Forex Tester just uses the 3 little dots on the right of the blank box as their button to open a file:

Install New Strategy FSTlink.dll
Click the 3 little dots on the right to find you file. Then click Install

3 – Turn the Link On

Now go to “List of Strategies” to enable the link.

In Version 4 of the Tester you will find this on the menu bar at the top next to the icon that says Strategies.

In versions 2 and 3 of the Tester you will find this under the Tools menu:

When the list opens you should see the FST link as one of the options. Click it on in the √ checkbox on the left. If your version of the Tester has a box in the dialog to “Enable strategies execution” also click it on as well.

4 – Invent an Account Number

While you’re still looking at the Strategies List, either double click the link for the FST link or click the Properties button.

This opens up a dialog with 2 settings – account number and reset period. You can use anything you want for the account number – something simple like 123456 works great. You can reduce the reset period down to 1 as well so it ‘speaks’ to the Calculator more often than the default 10 seconds.

Click Apply, then close the dialog.

5 – Make Sure Strategies Are Enabled

Even though you’ve set everything up correctly in the Tester, you won’t be able to use the link unless you make sure that strategies are enabled or turned on. There is a separate button on the menu bar to do this, if you haven’t already enabled them within the properties dialog, as mentioned above.

This button on the menu is a bit tricky, in that it tells you it is on just by a slight color change. You can click it a few times and watch it turn on and off and get the feel for it.

Make sure Strategies are ENABLED, i.e. turned on

6 – Adjust Calculator Settings

Now open the Forex Smart Tools Advanced Calculator to the Setup tab.

You will first create a new account. Click New.

Then name the account however you like.

Enter the same account number you created within the Forex Tester. These numbers must match exactly.

Next choose “Forex Tester” as the Equity source.

Enter some value as your equity, just as a temporary placeholder until prices start auto-updating, as well as your risk profile and the currency your money is held in.

Now go to another tab of the Calculator (such as Open CA or Trade Plan, etc.) – and then come back to Setup; this refreshed the Calculator and locks the values in place.

7 – Begin a New Test

For any information to come over from the Tester into the Calculator, you must begin a new test run in the Forex Tester. As you do so, you will then see the equity prices start to automatically update in the Calculator.

At this stage you will have your Forex Tester equity being linked directly into the Forex Smart Tools Advanced Calculator. You will however be using currency pair prices from today’s values (actually, from your last connection to an MT4 platform or from whenever you manually input prices). To learn how to use historical prices for more accurate backtesting, please see the next article. The currency prices are used to derive pip values, which in turn are critical to the calculation of position sizes.

PS ~ Simple Trades? Use FT directly

Side Note:
Version 4 of the Tester now includes an excellent risk management feature built-in to the interface when you place a trade.  If you are doing a single in and out style of trade then this is even more convenient than using our beloved Forex Smart Tools Calculator. If you are doing more complex trades (stop and reverse, layered cost average, scaling-in, etc.) then this simple feature within the Forex Tester is somewhat limited and you will benefit from the more advanced features of the Smart Tools Calculator. Here’s what that looks like within FT4:

Screenshot from Forex Tester Version 4

Troubleshooting

If you have followed the above steps and are not having your equity show up in the Advanced Calculator, try these ideas:

  • Are both programs open now? Both the Tester and the Calculator must be opened at once for equity to come in.
  • Are your account numbers the same in the Tester and the Calculator?
  • Are strategies enabled still within the Tester?
  • Have you chosen your Forex Tester account in the dropdown menu of accounts at the upper left of the Calculator?
  • Have you gone to another tab within the Calculator to lock in your Setup settings?
  • Have you started running a test within the Forex Tester? Even generating a few candles should be enough to activate the link.
  • Try closing and re-opening the Calculator.
  • Try closing all programs and re-starting your PC.
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