BankingFX Tools adjust and define the best strategy and setting to work in the market. If you do not trust blindly on a strategy you need the best tools to avoid wasting money. The BankingFX Systems are easy to be installed, and do not require advanced knowledge, thus it can be used by beginners or professionals in FOREX.
The best thing about an automated trading system is that you can backtest it on your demo account using historical data. Now, this is something highly useful as your capital is safe and you don’t have to worry about losing your hard earned money. MT4 Platform allows you to backtest any forex robot, expert advisor or for that matter any automated trading system.
You can get historical data starting from 1999. Problem; Most brokers use variable spreads. Spread is simply the difference between the bid and ask price of a currency pair. So what spread value to use. For example, if your forex strategy depends on trading during the Asian Session, you must have as reference the average spread during that session.
If you use a spread value less than the average spread value of that time, your backtest will show a profit creating false expectation of a profit while in reality when you trade with that forex strategy live, you will end up with considerable losses. Suppose, the average spread during the Asian Session is something like 10 pips. You should add 20-30% safety margin and backtest with a safety margin of 12 pips.
The purpose of the BankingFX Tools Spread Controller is that you can vary and change the value of the spread and hence make reliable backtests of your forex robot or expert advisor on Mt4 or MT5 platform. The other important BankingFX tools is the BankingFX Tooks Spread Monitor.
The use of these BankingFX Tools can mean the difference between winning or losing $100 or $1000,000. Remember, in forex trading we have the facility of using very high leverage as high as 1:500. What this means is that with proper backtesting, a good expert advisor with great settings can provide you with real high profits.
If you are into trading with an expert advisor or a forex robot, you must learn how to carryout proper backtests of your expert advisor or forex robot and BankingFX Tools can be a real good in your arsenal. BankingFX Tools are compatible with Fapturbo, FRWC – EAs and all Expert Advisors that require online authentication. such as Master EA, FusionV1.1, LMD-Multicurrency, HiRIDER, SuperVolcano, VREM2, Nutcracker, Neg-Correlation-USDCHF, Zoop-EURJPY, CobaltFX!