I want to set up a few Forex trading systems but I don’t know which software is best for this. The main thing I need is to be able to back test the system to see if it works. Also I need a software that is not super complicated to work with. It also needs to be easily compatible with C2 without a lot of problems. What would you suggest?
Susan:
I think you have a few misconceptions about how C2 works. When you subscribe to a system, you receive trade signals by email or messenger. Alternately, you can have trades piped into your brokerage account (that’s AutoTrading). The only “backtesting” available is the track record here on C2, which was created on a go-forward basis. In other words, the system vendor needed to commit publicly to his buy/sell calls at the time they were meant to be traded. So there was not an opportunity to optimize the system, to curve fit, or even to remove unsuccessful systems from public view (all listed systems remain permanently in view).
There is no need for any software. If you want to analyze systems using statistics unavailable on C2, you’ll need to develop your own software. Or of course you can request new features be made available on the C2 site.
One way you might want to get started is to set up a free demo/simulation account at one of the C2-compatible brokers that allows simulated demo accounts (IFX, FXCM, OpenECry), pick a few systems, and start autotrading in the simulated account. This will allow you to measure results in a slightly more “real” way than simply viewing C2 hypothetical fills. (Although of course fills in a simulated brokerage account must be regarded as hypothetical.)
Susan,
You can do a google search for Trade Systems Development Platforms to find many platforms that allow you to backtest. Two that I know C2 interfaces with are TradeStation and MetaTrader for forex.
Best wishes,
LKD
Thanks for the suggestion. :}
susan,
You can try ninja trader as well.
Best
jean marc
