A selection of the most useful programs for Forex trader
Hello friends forex traders.
Over the years, many auxiliary programs and tools have been described on the pages of our website and forum that help to solve certain problems in trading. So that you have the opportunity to navigate in all this diversity, we have compiled a selection article where we have collected all the essentials.
Today we’ll talk about tools that, if you don’t use them yet, are able to take your trading results to a new level. We will talk about how to make working with information more efficient, how to not forget anything, learn quickly and not lose a lot of time solving the most common tasks that a trader faces daily.
Programs for analyzing the results of testing advisers
We have already talked about how to test the adviser in the strategy tester of the MT4 terminal and MT5 terminal. You have already read about tick data testing here and here. We have already discussed optimization of advisers in the MT4 terminal and the MT5 terminal. Therefore, the first thing we will talk with you about what are the programs for a more detailed understanding of the results of testing your advisers. We also wrote about all these programs on the blog pages, but I simply could not recall their existence.
SQ EA Analizer
At the moment, the program is paid and is called QuantAnalyzer. It costs $ 249, but a demo version is also available, which cuts down most of the most “delicious” features. The program will not only help to analyze the expert advisor tests received in the terminal in more detail, but also to compile a portfolio from them, as well as conduct various tests for its stability and reliability. This article will help you learn more about the program’s features.
This is a completely free program with modest features. In fact, all she can do is to combine several expert test files into one resulting file. No additional parameters, no tests. It is suitable for those who just want to see the balance chart and the final result of the adviser working on all pairs together, or simply quickly get the advisor’s summary test for all instruments. Read more about this program here.
According to this wonderful program, even a whole video course has been released. In addition to keeping a diary, compiling and testing your own trading systems, Excel is also quite convenient to analyze the results of expert advisors. Moreover, in this program you can get absolutely any characteristics of your systems and portfolios, because, unlike the above programs, where the calculation of all indicators is tightly integrated into the program itself, here you are your own creator. A histogram of the distribution of the dependence of the result of the transaction on entry time? No problem. Want to see the Sterling, Trainor, Schwager coefficient or, for example, the time-weighted rate of return? Easily.
Walk forward analyzer
This program is built into the MT4 terminal and helps to check the results of optimizing forex advisors. It is completely free, you can get acquainted with it and download it here. In addition, you can see the topic on our forum.
Forex system creator
This program will help you automate a trading strategy or even automatically generate a large number of them. The program is not so difficult to learn, moreover, the process of its use is described in detail here. But if you have questions, you can always read the topic on the forum.
Online Monitoring Services
You can also analyze your results in online services for monitoring accounts. Currently, two of the free options are available - the popular but rather leisurely myfxbook and the less popular fxblue. Which one to choose depends on your personal preferences, but the second one provides more different statistics on the account, and the first one has widgets for inserting data from its monitoring to third-party resources on the network.
In addition, various market analysis tools are available on these services, such as the ratio of the positions of traders, correlation of currency pairs and other useful indicators. You can find some interesting tools on this site. Many interesting things can also be found on the Oanda website. It will also be useful for many to use charts from the trading view website for analysis. By the way, there is also an article on this service on our website.
Programs for manual testing of strategies
It is generally accepted that traders in the financial markets are divided into two camps - adherents of the old grandfather's manual trading and lovers of automated. And while the latter already know the capabilities of their trading systems, the first ones have to test the systems manually. Fortunately, for proponents of manual trading, special programs have been invented with the help of which they can test their systems on historical data. Also, programs of this type work great as a simulator for the rapid development of your trading skills.
This wonderful program, very similar to the familiar MT4 terminal, will allow you to run the system test manually, as if you were just trading online - that is, we click buttons, place orders and so on. In this case, you can stop, accelerate and slow down the time slider. At the end of the test you will find a report on your trade. The only minus of the program is the difficulty of using copyright indicators. The fact is that there are classic indicators, various drawing tools in the program, but if you use some kind of external indicator, you will have to rewrite it into the language built into the program. Another minus - the program is paid and costs about $ 100. You can get more information about Forex Tester 3 from this article. In addition, we have a video tutorial on working with this program on our site; You can still see the topic on the forum.
Simple Forex Tester
Another version of the program for manual testing of strategies is the old Simple Forex Tester program. But there are several advantages that distinguish it from its paid brother. The fact is that this is an adviser for the MT4 terminal and the test takes place in the terminal. And this means that you can use absolutely any indicators for trading. At the end of the test, a standard MT4 report will also be waiting for you. Oh yes, and the program is completely free. By the way, you can familiarize yourself with it here. And it will not be superfluous to see the topic on the forum.
Similar to the previous one, this program also starts from the MT4 terminal. It has more features than Simple Forex Tester. You can read about it here. By the way, the author of this program is our fv2500 forum member. There is also a big topic in our forum on this program.
Sources of quotes and work with them
When testing both manual and automated strategies, the main resource is a quality base of quotes history. If you have it too short, you will not be able to get reliable test results. If it is of poor quality, contains many holes and “artifacts,” one cannot speak of any accuracy either. An important role in choosing quotes is also played by the very principle of your strategy. If you are going to pep inside M1 candles or work on the news, you should definitely use tick quotes. If all operations occur at the close of the candle, it is not necessary to use ticks. They are needed in order to know for sure what was happening inside the candle. How to get quotes?
TickstoryThis program allows you to test strategies on tick data in the MT4 terminal. To get tick quotes, this program is also suitable. You can download the free version, which will allow you only to download tick data, or you can purchase the full version and get the opportunity to test. The fact is that the free version supports testing in terminals up to 765 build. You can find old versions of the terminal in our forum and safely use the free program or pay something for about 35 bucks. More details about the Tickstory program are written in this article, and as usual - the topic on our forum for this program.
StrategyQuant Tick Data Downloader
This program does all the same as the previous one, with one slight difference - it does not involve testing from the MT4 terminal. Why then is it needed? The fact is that in the new MT4 terminal builds, you can simply copy the previously prepared tick history in the .hst format, which the terminal prepares before starting the test. In old builds, the terminal each time created this file again, overwriting the old one. At the moment, if the terminal finds the desired file, it uses it without changes. Therefore, all that is needed to use real ticks is to prepare files in .hst format once in advance. Tick Data Downloader allows you to save the downloaded ticks in .csv format, and a special script for MT4 will convert them to .hst format and it’s all about the hat. Read more about this procedure here.
Range Bars plug-in and Ultimate Renko plug-in
These scripts don’t download anything, they convert the history in the terminal into Range Bars and Renko graphics. This is the same visual representation of price data as candles and bars, only a little more complex. In theory, these types of price representations provide some advantages to traders, but unfortunately they are not provided in the MT4 terminal. Having converted your price data using these scripts, you can test your advisors and manual systems on these types of charts for history.
When we talked about tick data that two programs download from above, we talked about ticks from Ducascopy. However, some brokers have their own tick data. For example, Alpari can download its data on all types of accounts here. If you trade with this broker, it is more correct to use its data, because flows from different brokers can noticeably differ.
MLDownloader and FuturesDownloader
These programs allow you to download a huge number of quotes of currency pairs and futures. Also on the site you will find several more interesting programs. For example, you can download various fundamental data for testing systems based on foundation analysis.
As you know, tick data is also subject to various holes and inaccuracies. Therefore, if you set yourself the task of obtaining 100% quality of your historical base for more accurate testing, you can not do without patches. Missing ticks can also be obtained from here.
You can also get tick and any other data from here. Here, stocks, and the commodity market, and forex, and indices - any tools. However, from 10 a.m. to 6 p.m. Moscow time you will not succeed in downloading large files, you need to wait in the evening.
If you do not chase tick tickers, but prefer more stable systems for making money, a quality M1 story is right for you. Of course, to get 100% quality, it also needs to be downloaded from various sources, and then glued, patched and so on. There are several sources that I know about from which you can get a minute history: Forexite (quotes for MetaStock, easily converted to MT4), GAIN Capital (quotes are broken down by weeks, so you have to download them for a long time and then glue them for a long time), FXOptimal (here the quotes for the three types of accounts to choose from are pretty high quality), HistData (very good quotes, ready to be downloaded to the terminal).
All this applies to forex quotes. Various cryptocurrencies are also fashionable now, so minute quotes of different bitcoins and others can be taken here. Again, you have to bring them to the "edible" for MT4 format, glue and patch.
If you are a fan of long-term trading systems, you need reliable long D1 timeframe data. They can be obtained at investing.com, Google Finance, Yahoo Finance, stooq, global-view, quandl, knoema, fxhistoricaldata, fred, federalreserve. If you need macroeconomic and fundamental data, I advise you to start your search with worldbank and measuringworth.
Paid Tick Data
Good paid tick data sources are Global Financial Data, Morningstar, Thomson Reuters, FactSet, Bloomberg, CRSP, TickData, AlgoSeek, IQFeed, xignite, quantquote, quantgo, eoddata, olsendata, cqg, Norgate Data, BarChart.
If you know any other sources, both paid and free, write in the comments - this can be useful to many. By the way, you can collect ticks yourself, I devoted several articles to this question in the MQL Lessons section. And how to prepare downloaded quotes and bring them into a readable by the MT4 terminal form, you can learn from the Excel Trader course.
Programs for storing your notes
If we don’t know why we lose or earn, then this is a hopeless cause: without understanding the reasons for the failures, it is impossible to fight them; without understanding the reasons for successful transactions, it is impossible to repeat the same result in the future. Therefore, the more we train and the more transactions we analyze, the more actively we develop.
One of the most common tools for analyzing your transactions is the transaction log. Most traders use it primarily to record all completed transactions and track the so-called emotional transactions, i.e. Transactions that were not made according to the system.
Also quite often there are situations when you come up with an interesting thought about your trade, which is worth writing down so as not to forget. In this case, some use paper notebooks, someone uses the means built into the phones, or even everything that comes to hand. Then all this is lost, mixed up and sometimes it is almost impossible to find something you need.
Another common situation: you find an interesting article on the net and want to make a note. Most often you just have to copy the text from the browser to a file on the computer or make bookmarks. Over time, such a system becomes more and more piled up, “littering”, and again it becomes difficult to find something.
Yes, you can use standard tools. For example, Excel for journaling, and for notes - Word or a similar program. But nevertheless, many more universal and useful applications were invented to solve these problems.
Excel and Word
The simplest and also free solution is to use Excel to keep a diary and Word to store notes. You can organize your system from folders on the disk and arrange notes according to the system. You can display any graphs, coefficients and other characteristics in your journal in Excel. Everything seems to be fine, but there is a fat minus here: Word will not save you somewhere far from the computer when the insight suddenly dawns on you, and Excel is inconvenient to insert screenshots of transactions. Therefore, let's get acquainted with those programs that are now available as an alternative.
This is the most popular program of this type. It has a convenient interface, a version for a smartphone and a plug-in to most modern browsers, which allows you to directly save articles from the Internet directly to the program with just one button.
Its main advantage is a quick search of information in a single database, when you can find the information that you have entered into this database in a matter of seconds. After registering an account, you can download the version for the computer or use the browser version (it’s more convenient to download and install the program). To structure information on various topics in the Evernote program, you can create special notebooks, for example, a “transaction log”, “trading patterns”, and so on. Inside each notebook, you can create an unlimited number of notes. A note may contain text, pictures, as well as various files (pdf, word and others). For each note, you can assign different tags.This is something like tags, by which you can then very conveniently search for the necessary information. The tagging system can, for example, help a lot when keeping a diary, because you can use the name of the system, trading time, trading result as tags, and then use the filter built into the program to display only those transactions - notes that, for example, were opened before lunch according to the trend system and closed at a loss.
In general, the Evernote program is an excellent tool for identifying your strengths / weaknesses, building skills and increasing professionalism. However, the free version has serious limitations, such as the inability to synchronize the program on a smartphone and computer, as well as limited storage space for notes. The optimal tariff, Premium, costs 2,000 rubles a year, which, in principle, is not so much. But do not rush into the purchase, because further we will analyze a few more of these programs.
For those who do not want to pay for a useful program, but want to have many different useful functions, the free OutWiker program may be suitable. Such programs are called outliners, personal wikis, or tree editors. Any number of files can also be attached to notes. OutWiker can contain various types of pages, currently four types of pages are supported: a page with support for wikis, plain text, HTML pages, and a tree search page. Using plugins, you can add cool new features such as saving web pages, creating galleries, tables of contents, full control over the display of pages, building charts and creating graphs of anything, viewing statistics on notes, inserting mathematical formulas, saving page templates, and much more. All this, undoubtedly, makes the program very convenient for conducting a transaction log. However, there is one drawback - there is no version for a smartphone. On the other hand, if you use the program only as a diary of a trader, the minus is not so significant.
This program from Microsoft is often installed along with other office utilities like Word and Excel. A mobile version is also available. In it you will find exactly the same functions as in the Evernote program, only for free and without any restrictions. For those who have been using the Evernote program for a long time, at first it will be a little unusual, but it's worth it, because in addition to the main functions of a competitor program, you will get the opportunity to make sketches right in the note, create tables like in Word, import tables from Excel, work with note templates , record audio and video notes, configure integration with Outlook Tasks and receive, for example, to-do lists or other notifications by e-mail, as well as many other functions. Therefore, for those who are looking for a way to create a personal knowledge base, systematize the storage of various information, I would recommend this program.
Remote Management Software
Currently, monitoring the market from a phone or tablet is not particularly difficult: just install a special application or use the web account that almost every broker has. But often this is not very convenient, and in some cases it may be necessary for you to get to your home computer (for example, urgently disable the trading robot due to market instability). The wonderful TeamViewer program comes to the rescue. It is available both in the PC version and for smartphones. We simply install the program on all the desired devices and get something like a network of your working machines with the ability to enter any of the connected devices directly from your smartphone. I will not describe in detail all the functions and features of the program, you can find them on the website.
Access to VPS from a smartphone
When you are working on your PC, logging into your VPS server does not seem problematic. But what if you are on the road or just far from home, and you need to go to the VPS urgently? Save the program for smartphones RD Client. It is similar to TeamViewer, RD Client gives you full access to your server, as if you accessed it from your home computer.
Password Storage Software
A bunch of terminals, a couple of dozen brokers, five mailboxes, six dozen different online services and forums, and even a bunch of programs on a PC that require a username and password to log in - all this requires good memory or a special program that will carefully store all this information is for you.
This is an open source software development program designed to store passwords. The program interface has been translated into many languages of the world, including Russian. If you explain the principle of the program’s operation in a simple way, a container is created that is protected by a serious encryption algorithm, after that all your passwords and logins, links to Internet resources, email addresses and so on, which are broken into groups in the most thorough way, are placed in it, while allowing apply some additional properties. Password Safe will allow you to have only one password, which will provide access to the container created by the program, where in a convenient form you yourself will organize comfortable storage of your access passwords. Create new groups in which you can place your “username and password” close by topic or another principle. The convenient function of the context menu in Password Safe allows you to quickly perform a number of really useful actions. For example, copy the password, login, link, email address to the clipboard, go to the desired resource with the ability to auto-dial, send an email to the addressee, after determining which mail program to work with and so on.
Efficient password manager
This is a great free password manager. The program has a portable option for use from any drive, including USB media, for example, from a USB flash drive. Using the portable version of the program, you will always have all your passwords with you. The program has forms for saving mailbox accounts, can store keys to the software that you purchased, FTP account passwords, and so on. The program has a built-in password generation function, in case you are at a loss to come up with a secure password yourself. Efficient Password Manager will come up with a really strong password that will be hard to guess. The Login Password pair, with which you need to enter the utility interface, is encrypted with the irreversible SHA algorithm, and the information is encrypted with the 256-bit AES algorithm. In addition to the main functions, this product has a lot of additional tools and settings from choosing a theme to a hierarchical grouping. You can also create your own password groups. The program supports many languages, Russian is no exception.
Programs for servicing home computers and VPS
In general, there was already a blog article about VPS care. Also, the process of setting up a VPS server was already understood. Now I want to offer several programs for optimizing the work of VPS and home PCs, which I use myself.
This is a set of utilities for cleaning and optimizing the Windows system, marked by more than 20 awards. In this case, the program is provided by the developers for completely free use. This set of tools allows you to improve the performance of your computer, increase its security, as well as customize and personalize your windows. Registry Cleaner makes your system more stable by cleaning up bad registry entries that accumulate every time you install and uninstall programs. The registry optimizer rebuilds and defragments your registry, which makes the whole system work smoother and faster. The program includes powerful tools for cleaning and optimizing hard drives. Disk Cleaner removes unnecessary files from your computer, which allows it to work faster. The memory optimizer ensures that memory is freed in the correct way. The History Cleaner module deletes Internet history and other personal files that can be used to track your activity on the Internet. Undelete function allows you to recover files that you accidentally deleted. You can even save files from deleted partitions. More information about the program can be found on the developer's website.
Ultimate Windows Tweaker
This software is a tool for fine-tuning the Windows operating system. The graphical interface of this application combines a huge variety of settings and options, changing which the user can optimize the operation of his own computer for certain tasks, in accordance with preferences. I must say that the program is a pretty serious tool and allows you to change the settings that can cause instability of the system. Therefore, users who are going to use this application, of course, must have certain knowledge and experience. Despite the simplicity and ease with which you can change the value of the system parameters, the user will be able to make quite significant changes in the operation of the PC. You can download the latest version of the program on the developer's website.
This is a set of system utilities from the notorious author of a huge variety of tools for administering and maintaining Windows operating systems. All the tools offered for use are distinguished by great reliability, the absence of malicious program code, the absence of advertising modules, and over the years have shown themselves to be incredibly stable tools for servicing and managing a computer running in Windows. The list of programs for diagnosing, managing devices and computer applications is constantly updated with new tools, and old versions of tools are replaced with updated options. Currently, the number of funds is already seven dozen. Most likely, there is no particular need to list the entire composition of this package, but it’s worth mentioning the possibilities that will allow solving a whole range of problems. Firstly, these are programs for improving security that allow controlling access rights to files and folders, managing autorun of applications launched with the operating system, tools for working with databases, tools for monitoring running processes in the system, including Windows- services, utilities for obtaining information about both devices and software. The user will be able to control the cache, determine its parameters, organize several desktops, several tools for working with hard disks, manage fragments of files located on disks. And this is far from a complete range of features available to users. You can familiarize yourself with the program in more detail on this site.
Quick Startup is a startup manager. When you turn on your computer, some applications, drivers, and services automatically start at the beginning of each Windows session. The same thing happens with your VPS server if it was forcibly rebooted, for example, for maintenance work. The information that Windows tells about the automatic launch of these programs can be located in several places, ranging from the group program on the Start menu to some initialization files that are executed when Windows starts in the system registry. The program allows you to centrally manage all of these elements using a single interface. When using the Startup Manager, you can easily add, delete, edit, disable and enable any launch points in order to keep the system boot as fast and efficient as possible. Quick Startup displays detailed information about the program in the Details field at the bottom of the window. You can download the program on the authors website.
We have all heard this expression: "Trade is not a sprint, it is a marathon." It also means, among other things, that if you want to succeed in such a difficult business as trading in financial markets, you will have to spend a lot of time on it. In order to run for a long time, of course, it is not necessary to have sneakers for $ 500, you can run in old sneakers. But if the runner feels as comfortable as possible, his chances of success increase significantly. Therefore, I suggest you study the programs listed above and choose the most convenient so that you are comfortable on the way to your personal success.
Good luck and see you soon!