Backtest With Me Using MT4 + Soft4Fx

hey guys welcome back to another video this is just going to be a chilled back test with me i'm currently using a new software called softwarefx for my backtesting and i'll be doing aussie yen um october 2020 so let's just jump straight into it so basically parallels which is on my mac and then from there i will download metatrader4 where i'm using um ic markets as my preferred broker where then i'll have a demo account and then download mt4 onto onto my windows sort of desktop and then i've also downloaded and bought and got um software fx which is the forex simulator it's actually a lot better only just started using it for the past couple months you can see here i'm going to be doing aussie yen i'm starting from the 1st of october and i'll actually end it um on let's just do say first starting balance will pop on 100 000 time zones of each gmt and for this i kind of just leave it again i'm pretty brand new to this so let's do that first thing i usually do is change that to risks because i pretty much will risk 1 of my um account balance not equity charts um i'm gonna just be using one time frame here so i'm just gonna be using the hourly chart and i'll click on add and then i'll open and i've actually set up like presets so of what the um chart template looks like again i'll probably have to do this on another video um so i've called it default and yeah that's pretty much how i have it and yeah you can see we are starting up um at the end of september so i'm just looking at price i'm pretty much gonna just talk through price has been trending upwards pull back pushing up but we'll see what happens because we are looking quite um ascending the thing about this this software is that i can't really i don't know how to actually draw on it apart from things like a rectangle and uh and whatnot but actually having like a pen tool would have been useful but i'll just try and talk you through it and i'll speed things up um let's get going right now i'm just seeing ascending nature breaking highs retracing breaking the highs having some wicks so let's see if we'll get um momentum to the downside and if we can continue that or take a trade to the downside so right now i do how i do like how this looks because we're getting two impulses we're showing that there is momentum to the downside and we have come from this ascending nature up here um so let's see if we get a little flag formation right now i'm looking at this and it's it seems to be price seems to just be filling imbalance inefficiency and it's retracing a lot more rapid than i would like um personally i just don't want to get involved after we've had this wick that kind of just means a little bit more uncertainty in the markets usually this would actually be a trade that i would take um but personally i'm going to set out on this one just because of how price is forming how the actual setup forms yes the area might be good but the setup itself is is definitely just a poor setup um but you know what what i will do is i'll box it off because then i can asr that and review that later on so we're just pushing back up right now nothing's looking too solid if this since we have been overall you know trending upwards we'll see if we can take some sort of continuation retest uh to the upside um we can see that overall we do have inefficient price in this region which basically means price tends to gravitate and fill to these areas where price has been well it seems to be rejecting off this low area here we've had a push down a retrace massive wick and then getting some sort of doji here and then we have that descending nature if we continue up this could be a good setup to take let's just zoom up zoom in a bit usually this could be a continuation to the upside we've got our high up here our low down here i like how we do have these two impulses and i will see if we actually get a retest in this region here or if we get a flag we've got this low here let's see if we break the slope then retrace then i'll be interested to take an entry so here we've broken this slow we're just looking for a bullish candle now and here we have a bullish candle so what i'm going to do is i tend to set i'll set a 15 pip stop loss is gonna be a market order one percent of my equity which is a hundred thousand i will put that in as a buy and this is what i love about using soft for fx instead of trading views that you literally if i just put up on this trade here um it's including you know profit loss pips and like spreads and things like that you can even move it to break even you can take profit you can close partials and you're literally trading it more as if it's real life rather than trading view where you kind of um don't know exact amount so you don't really see how you your entry and you're having it with a stop loss but here you're literally seeing it like profit lost we'll see this so if we break this high up here i'll move to this low and i'll show you how i do that so we've broken it now and you can see that this low is here so either you can set it to break even and i'll click that you see the stop plus is now going to break even now that's no risk on the table but if i click modify here i can just move my stop loss and push it to this low here except so let's just see what happens and we've basically been taken out 400.22 and if you click on your history and close trades you can see profit loss and whatnot here [Music] so just from my previous back testing and knowledge of aussie yen i don't tend to really like taking clear ascending channels with a push-up and i find that they don't tend to actually work with routers that's just from my own findings so i'm just stopping here again because we have two sort of impulses here and we'll see how we come back to this level here so i'm actually gonna set a pending order with i'm actually going to go on visual mode so i'll do a sell limit and you can see i personally don't set take profits so my red line is my stop orange line is my entry price so this low is at eight six three set two bits below so that's around eight four three yeah that's fine and then i'm going to do 12 pips for my stop loss uh i can't get exact 12 pips so except so let's see how price reacts coming back i want it to to come back quite slowly quite um ascending not like one massive retrace so but we've had a retrace we're in but i do see price like you can see price literally just fills the inefficiency in this area here and it's covered it next bar so the moment we broke break the slow here i will move to i'll move it to break even or if we get a counter trend then i'd leave it up here actually we've moved it so go back to this modify my stop and i'll move it up here next bar so now we've broken this low let's move this to here now we've actually been wicked out so that is that so right now that's our history this is our closed trades we're currently up 1.8 and we'll just continue so price is swinging to the downside it's trending downside i do like how market structure sorry how price action is also looking price is showing a lot more momentum to the downside especially as it's impulsing down having pulled back and pulsing down having a pullback rather than sort of chopping around and there's a lot more actual movements in this kind of market and in fact i want to set another cell limit um visual mode cell limit so if this so this this candle here let me zoom in is an inside bar okay accept uh so yeah i like how it's having impulsive movements to the downside and then pulling back continuing that's a trending market rather than actual sending or descending market um i think we're in so we see floating 626 so yeah we have now been typed in so if we break their slow here then we'll move to where it's counter trend so what if i push this here accept price is just pushing down if we get another setup where we we break this high up here then rephrase then i'll be taking a scale in otherwise if we just break the slow here then i'll just trail my stop-loss accordingly and there we go modify two up here accept currently running at 7.5 percent um let's have a look let's see what happens and we've been taken out so close trades we've currently taken three trades so far in october 2020 um both have actually been wins but i think the market's been pretty decent um for this month all right next bar so i'm just going to zoom out see where we're at there's a lot of inefficiency in this region now and i'm going to be aggressive and take a long because usually what i've noticed with aussie yen is that once we've sort of filled this area once we have a level um i'd like to take the reversal as well as a retest but we'll see what happens if it if we fill this area right now well this is quite aggressive actually there's definitely more of a valid play because we've only broke we've only had the slow retrace and then broke once had a little wick here so technically our entry would be at this level here but we'll see if we continue if momentum shows me that it's pushing up and if we sort of re-test back into this area [Music] um i'm actually gonna be i'll see one more candle yeah i'm gonna set a bi-limit order this is definitely a lot more risky so i'm still on visual mode because when i set my retest i like to buy a limit i like to see where highs and lows of candles are so that's why i'm using the visual mode unless i'm doing a market order then i'll use not the visual mode and we got tagged out for that one loss we argue a pullback especially if we come back to for those who trade liquidity in order box especially coming down here and let's see what happens now i do like sort of this set up here because well this is this is an awful trend line but i like how we do have this sort of descending channel and we pushed up but what i'm seeing is i i personally don't like to be involved when price is ping-ponging because this is where market manipulation is at its finest so we've had this descending channel we've had this push-up personally i would i would be getting involved on a retest at this level i'd be tagged in right now but then i would probably be tagged out and plus because of we've been tagging this order block here uh basically if you trade liquidity or understand that or use that as a confluence which is what i'm using um or what tends to happen is there will just be that one sort of stop hunt where institutions smart mini will literally pierce you and then it will absolutely bottle to the upside personally but again this is i'll only if there's an actual clean entry then i'll take it so you see how literally market psychology works and it works over and over again we have this double i don't have to move that but you see how we have this sort of one two three test it kind of um wicks people out and you know it's just textbook this i would not be surprised if this moves to the upside see how wicks are performing now that we've broken high i'd definitely be interested in taking it along so yeah that is a nice candle but again the question to ask ourselves always is what happens after the impulse and we've completely come back in so yeah this is just a great example of money manipulation market's very choppy not interested at all since i'm basically naked trading which means i'm not really trading with anything like uh trend lines and stuff like not so much i'm literally looking at where the market's at how structure is uh candlestick movements wix and the highs and lows and be being able to ask myself what phase of the market are we in are we in a correct thing with a trending phase um and i'm basically looking for momentum because then that's where the market's letting me know where it's at so we just continue and now there we go market wants to push down now i'm going to look for opportunities to sell and you can see we did have some wicks but we retraced if we have another impulse then i'll be interested to take a re-test uh but just judging off of um moves like this yeah i'm not surprised we get a retrace likely to pull back a little bit yeah again you won't always get an opportunity and that's fine even if markets are trending there's a lot of liquidity doesn't always mean that there's a setup pretty messy pretty correctly going up and down and that comes to the end of this back testing session let's have a look at our closed trades trades so and again since i'm trading one hour there's not going to be like a set up all the time i'd say october was quite a slow month yeah we got some decent trades um but stats this is interesting you can have a look at that if you guys want to and then this is our graph um so yeah that's pretty much that's pretty much it for the simulation so yeah guys that pretty much concludes this back testing video um if you guys want to know more about software effects and if you want to go grab it yourself then the link is in the description and i just want to say massive thank you for all the love and support in my most recent video where i told my family i was a forex trader um support has been overwhelming and i'm super grateful for this community that we've built together and yeah i'll see you guys in the next video and thank you for watching take care [Music] you

Channel: HANNAH FOREX

Views: 64,159

Keywords: forex trading, forex trader, soft4fx forex simulator, forex simulator, mt4 backtesting software, best backtesting software, trading simulator, best forex simulator software, forex trading simulator, best forex backtesting software, backtest with me, forex backtesting software, backtesting forex, day trading, mt4 simulator, forex simulator mt4, forex backtesting, forex backtesting mt4, forex simulator backtesting, forex trading strategy, how to backtest

Id: Yg89CoBtr-I

Length: 18min 15sec (1095 seconds)

Published: Sun Mar 21 2021