You can turbo-power your analysis of trades you take in the Forex Tester by using the ability within the Forex Smart Tools’ Trade Log to create multiple accounts.
Why should I define separate “Projects” in the Forex Tester trades I take?
The Forex Tester lets you save your work as you go and calls each one a ‘Project’. The naming conventions are very strict and if you do not name a project correctly you do NOT get a friendly warning message. It simply doesn’t save it. So watch out when you give your project a name that you do not use special characters such as -, _, * or other non-alphabet characters.
Saving a project within the Forex Tester is a good idea for many reasons:
- It saves you from losing all your work if your power goes down or you system crashes.
- You can pick up where you left off with a series of trades at a later time. (‘Open Project’).
- It lets you compare different trading approaches or trade plans with each other.
- It lets you easily divide a long time period into shorter time periods to work with more easily within the Tester. For example, instead of loading up a massive amount of data be generating ticks from 2001-present time, you could save a few smaller modules of your test runs by picking shorter time periods for each project such as (1) 2001-2005 (2) 2006-2009 (3) 2010-present
Within the Trade Log you can create a Broker Group and combine these different time periods or projects to evaluate the results of the entire collection of trades all together, even though you saved each project separately in the Tester.
- From the Accounts tab of the Trade Log click ‘NEW’.
- Name your account ‘FT’, ‘Forex Tester’ or ‘Tester’ or something like that.
- Set up the account number field as a name to remind you of the project name you created in the Tester. This is unlike how you use this field with MT4 or other brokers, because you do not need any specific number match when you import your trades. Instead you’ll use the name you create now to pick the account.
- The GMT time offset will depend on any time shift you may have used with your Tester data.
- Import (or manually enter) just a trade or two to verify you have the time right before importing all your data. If the time match is off, change the GMT offset in the Trade Log account setting for this account until you get it synchronized with how you’ve set up the Tester.
- You have the ability to let each unique Tester project use a unique account in the Trade Log, if this serves your analysis. You don’t have to do this of course – you could just throw all your Forex Tester trades into one account. It’s up to you.