If you talk with experienced traders, you will hear that the secret to success is a simple combination of patience and practice. Using a real time demo account, this is a great deal easier said than done.
Its a fact. The single greatest challenge new traders face is impatience and that, we have come to believe, is more often than not driven by the use of real time, demo accounts. Prospect traders, enticed by seductive offers of free $50,000 demo accounts and the promise of easy riches, start the learning process with the best of intentions - to thoroughly test a trading strategy or signal service before they open a live account.
Unfortunately, the tedium of real time demo account trading turns to boredom and that, more often than not, leads inexperienced "traders" to open a trading account before they have had an opportunity to perfect their trading skills.
If you are more interested in getting in the game than learning how to trade profitably, The Forex Simulator (FxSim) is not for you. On the other hand, if you are interested in trading profitably, you can learn more in a week of historical simulations than you can learn in six months using a real time demo account driven by live price action.
* Test your favorite trading strategy against virtually unlimited, historical feeds..FxSim is preloaded with data feeds for the following currency pairs from 1999 to September 2005.
* Got a day job? Test your trading strategies at your own convenience - on weekends and during non-optimum trading hours..
* Want quick confirmations? Make a call. Fast forward and get immediate feedback. Rewind to review.
* Want to test your strategy against the current market? Download current data. The optional data downloader will keep your data sets current up to the second for 30 currency pairs. Read More Here.
Feature list:
Automatic plotting
of weekly, daily, timed and custom pivots.
Complete control of price action
including rewind, fast forward, play, pause and start over. Four levels of speed control are included with every lesson.
Standard technical indicators
such as MACD, Moving Averages, RSI etc.
Darvas Boxes
this old but resurfacing strategy is showing promise in the forex spot market.
Custom zoom tools
and historical data are provided with each lesson.
Drawing Studies
such as Fibonacci Time Zones, Fibonacci Retracements, Trend Lines etc.
Simulated trading
via hot keys and/or convenient icons.
Advanced settings
customize your charts and layouts for maximum personalization of your trading/training style.
Digital Trade Record (DTR)
easily capture screenshots by enabling the automatic DTR. The DTR also allows annotation via installed patterns as well as custom notation. The DTR allow complex filtering and sorting parameters to be added to conduct categorical analysis and trade optimization.
Screenshots Recording / Library in addition to the DTR Screenshot recording can be accomplished with a single click for rapid recording of patterns and ideas for later viewing and analysis Screenshots allow text comments and drawing directly on the chart. Screenshots can also be exported as a .bmp file for further annotation in third party programs. The screenshot library allows filtering parameters to be applied for categorical analysis and review.
News Bar
integrated news data informs and alerts the trader before any important announcement. Thus trades and analysis can be conducted just as if it were live.
Lesson Integration
complete HTML lesson integration of forex price data to enhance, test and build confidence in any trading style. Lesson types range from simple multiple choice text to complex charting graphics and flash video with commentary. (coming soon).