The biggest challenge in forex trading is making consistent profits from the market. Forex traders may need to rely on backtesting to develop a strategy that works. A typical backtesting process involves analyzing historical price movements and testing trading plans to see how well a strategy performs when taking a trade. There are two approaches to backtesting. The first is to go with a manual process, while the second is to utilize an automation approach. Manual backtesting is more complicated, but automatic backtesting is popular for most forex traders.
Step-by-step Guide to Backtest Your Trading Strategy on Metatrader 4
MT4 trading requires various time ranges for accurate backtesting. Forex traders that work with the 1hr, 4hr, or daily charts don’t necessarily need a 20-year backlog of data; 1 to…
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