Forex Trading Simulator – User’s Guide

Installation and upgrading
License
Test Data
Simulation
Orders history and log
Settings

The Forex Simulator is a new original tool designed for practicing Forex trading.

The idea behind the tool is to make it very lightweight and easy to use, but still fully simulate real trading environment.

Tool development is ongoing. We need your feedback! Please vote for the new features, leave a comment on this page or just send us an e-mail. Thanks in advance!

Installation and Upgrading

NOTE: Exactly the same procedure is used for installing the Simulator from the scratch or upgrading the previously installed version.

After the software download is complete, locate the downloaded file (ForexSimulator-x.y.zip). The numbers x.y in the file name denote the software version. On the example sceenshot below, the software version 1.3 was downloaded on the Desktop.

forex simulator downloaded archive
Forex Simulator software downloaded on the Desktop

Now, right-click on the downloaded file and select “Extract all…”

forex simulator extract from archive
Forex Simulator – extracting from archive

After that, Windows will create a folder with the same name (ForexSimulator-x.y) in the same location as the downloaded archive. On the example sceenshot below, the folder ForexSimulator-1.3 is located on the Desktop.

forex simulator unzipped archive
Forex Simulator installer is extracted from archive

The folder contains the installer: ForSimSetup.exe. Double-click on the installer file. Note that Windows might ask you to give it a permission to run.

forex simulator software permission
Forex Simulator Software installer might ask for permission to run

In this case, click “Yes” and the installer will start.

Forex Trading Simulator Iinstallation
Forex Trading Simulator Iinstallation

Click Next – button and then select the installation folder.

Forex Trading Simulator Iinstallation
Forex Trading Simulator Iinstallation – Select Folder

Next, click Install – button and wait for the installation to complete.

Forex Trading Simulator Iinstallation
Forex Trading Simulator Iinstallation – Completed

Now, click Close – button. You are all set. Now you can run the software from the Windows Start Menu.

License

Without a valid license, the software works in a Real-time mode, where you can practice on the streaming prices for 10 main currency pairs.

With a license, the software additionally supports offline mode, and the Timeshift functionality is enabled in Real-time mode.

To obtain a license, on the License tab, click on the Buy full version button and follow the instructions.

A license needs to be installed. Enter the email address you used for the purchase and the license code received, and click the Validate button.

Forex Trading Simulator License
Forex Trading Simulator – License

If the credentials entered are correct, the license status will change to installed.

You can uninstall the license by using Deactivate license button. This function is useful if you need to transfer the license to another computer.

To install a newer version of the Simulator, follow the same procedure as for the clean install. Upgrades don’t require any license manipulations, as long as you don’t uninstall the software prior to upgrading. In this case, you will need to install the license again.

Test Data

The simulator supports both Back testing and Forward testing on streaming real-time prices.

Back testing  (offline mode)

In this mode, you test on the historical market data that you can select on the Data tab. The simulator only uses the tick-by-tick data, which is loaded as a .csv file. You can download free high quality tick-by-tick data from www.truefx.com. There you can get the historical data for 15 main currency pairs since 2009.

The price data is available in monthly files. You need to download them to your computer and unzip before using in the Simulator.

To start offline simulation, navigate to the Data tab, click on the Open data file button, and choose an unzipped quotes file. Alternatively, in the File menu, select Open. The Simulator will first scan the data to check its integrity, and then load it.

Forex Simulator uses tick-by-tick data for backtesting
Forex Simulator has loaded tick-by-tick data

NOTE: monthly files are usually large, so their loading might take a while. You can monitor the progress of loading in the status bar in the bottom. In the case of any loading errors they will be logged on the History tab.

When the file loading is complete, the loaded data interval will be shown on the calendar: light colored, with the first available date highlighted in blue.

Forex Trading Simulator - Test Data
Forex Trading Simulator – Test Data

Now, select the desired simulation start date by clicking on it in the calendar, and then select the start time.  The options available include manual time select (after the file upload, it is set to the time of the first tick in the file), and standard times of the major trading sessions – Asian, European and North American.

With the date/time selected, click on Start Simulation – button. The Simulator will switch to the Simulation – tab and the data feed will be started.

Forward testing (requires Internet connection)

This mode enables you to practice in the real time, when Forex market is open. The Simulator uses streaming price quotes for 10 main currency pairs, provided by www.truefx.com.

NOTE: when you start a new simulation, the price graphs are plotted with a small delay. This is normal: the Simulator is downloading the recent price data.

On start-up, a new live simulation is started automatically by default (a configurable settings).

To change the currency pair, end the current running simulation first by pressing the Stop button. Then navigate to the Real Time tab, where select a new currency pair from the Currency pair drop-down list. Now you can start a new simulation by clicking on Start Online Simulation button.

 

Forex Trading Simulator - Live Data
Forex Trading Simulator – Live Data

NOTE: you can also start and stop a simulation by pressing CTRL+L or using Live Feed option in the File menu.

Real-time simulation requires good Internet connection. The Simulator constantly monitors the quality of your connection by measuring round trip time (RTT). The long term RTT values and real-time graph for the last 1 min are available.

Online Forex Simulator monitors the quality of Internet connection by measuring RTT
The Simulator monitors RTT in Online Mode

RTT is the time needed for the Simulator to request and receive one tick from the trading server over the Internet. The smaller the RTT value, the better you can simulate the real market. We recommend you to pay attention to the RTT graph and make sure the average value doesn’t exceed 500 ms.

NOTE: if you lose your Internet connection in real-time mode, the simulation will be paused. The Simulator will log the connection loss on the History tab and show the warning (DATA LOSS) on the graphs.

As soon as the Internet connection is restored, the simulation will resume automatically, but there will be gaps in the graphs. On the candlestick graph the gaps are shown by thin gray vertical lines. Connection restoration will also be logged.

NOTE: The real-time simulation result can only be reliable with uninterrupted Internet connection. While the Simulator does its best in handling the connectivity issues, this is only done to improve user experience.

Simulation

The Simulation – tab consists of the control area (on the left) and the graphs area (on the right).

In the top left corner of the control area you can see the start date/time of the running simulation, followed by the current time. The number in brackets is the tick count.

Forex Trading Simulator - control panel
Forex Trading Simulator – control panel

2 upper graphs show ticks in real-time. The left graph is a zoom view, with min window size of 10 s. The right graph has bigger display window size – from 2 min to 2 hrs.

The middle graph displays averaged quotes, e.g. M15. The light horisontal bar shows the value range from the tick graph. Dashed vertical lines mark the date changes. Dashed horizontal line shows current market price.

The bottom graph is reserved for indicators (in version 1.3, only RSI is supported).

NOTE: On the Settings tab, you can addjust the visible data window size, graph scale, averaging interval, and the indicator parameters (in version 1.3 – RSI periods).

During Offline simulation, you can put the current simulation on hold with Pause button. To unhold the simulation, press Resume button.

During Live simulation, you can put the current simulation on hold with Record button. To unhold the simulation, press Play button.

To end the Simulation, use Stop button.

NOTE: When you start a new simulation, the previous trading history will be deleted.

Data feed options

It is possible to vary the speed of the data feed during Offline simulation and Timeshift.

By default, the data feed always started in 1X (Normal) mode. It means that ticks are sourced at exactly the same intervals as they appeared in the market.

In 2X(4X) mode ticks are sourced twice (4 times) faster compared to the 1X (Normal) mode. These modes are useful to save time when trading in quet markets. E.g. in Asian sessions the time intervals between ticks can exceed 1 min.

Max – mode doesn’t limit the interval between ticks anyhow, so the feed speed only depends on your hardware. This option is used mainly for debugging and demonstrations.

In 1/2X (1/4X) mode, ticks are sourced twice (4 times) slower compared to the 1X (Normal) mode. These modes can be used in fast-paced markets, e.g. to practice news trading.

Working with orders

The Simulator 1.3 supports one active market order, with linked Stop-loss and Take profit orders.

Pending orders are not yet supported.

You can place a market order in one-click mode using BUY and SELL buttons.

Active market order is marked on the graph with a black triange pointing up for a buy order and down for a sell order. The order is also marked with a dashed line drawn at the price the order was opened. The line is colored green if the position is profitable and red in the opposite case. The profit (loss) value is writen on the line.

You can place the Take Profit and Stop-Loss orders simultaneously with the market order. For that, before you press the order button, check the Stop Loss  or/and Take Profit boxes located just above the Buy button. Set the desired price using arrow buttons or by entering it manually. Solid horizontal line is drawn at the price level entered in the control.

Stop orders can also be placed any time after the market order using Take Profit and Stop Loss buttons. Clicking a button opens a dialog window where you can select the desired price level using arrow buttons or by entering it manually in the control. The solid horizontal line on the graph helps you to adjust the price. When the price is set, press OK button to place the order.

Forex Trading Simulator Takeprofit order
Forex Trading Simulator: editing Takeprofit order

Same buttons can be used to move active stop orders. With the X Take Profit and X Stop Loss buttons you can cancel stops.

NOTE: that every time you try to place or move a stop order, the Simulator first checks its distance to the market. If the price you enter is too close to the current market price, the order fill error will be returned by the trading server. The minimum distance to the market is configurable by the Stoplevel parameter on the Settings tab.

If you use a dialog box to add or move the stops for the active market order, the Simulator automatically calculates the minimum distance to the currently effective market price and doesn’t accept incorrect values. For your convenience, the arrow buttons are also colored. Red button indicates that the price is too close and order placing command won’t be accepted.

NOTE: It is still possible for a stop order to be declined after the command was accepted – if the price changed unfavorably before the server receives the command.

All your trading activity is presented on the History tab.

Timeshift

Timeshift makes it possible to pause/resume a Real-time simulation. If your practice is interrupted (e.g. by an important phone call), you can put the running live simulation on hold.

As long as your Internet connection stays active, the Simulator will continue receiving the market data. So later, you can resume your practice any time. The recorded data can be also used offline.

Timeshift both saves your time and helps you use your time very efficiently.

To pause the simulation in the Real-time mode, press the RECORD button. The Simulator will start storing streaming prices internally. The tick graph will display the recording symbol and also show its duration.

Online Forex Simulator with Timeshift
Forex Simulator with Timeshift in Online mode

NOTE: Order operations are not possible during recording.

To resume simulation, press PLAY button. The simulation will continue from the tick following the last one shown before the pause. The playback symbol will be displayed, along with the current record duration (i.e. the delay from the current time). All recorded ticks will be rendered with this delay.

Forex Simulator - Playback in Timeshift mode
Forex Trading Simulator: Playback in Timeshift mode

NOTE: When the playback is active, you can activate recording again at any time.

You can fast forward the recorded data using 2X and 4X buttons. In this case, the delay will be decreasing, and eventually the Simulator will go back to the Real-time mode. Fast forwarding is very helpful when the market was slow moving during the recorded time. You can save your time and catch up without losing anything significant.

Online Forex Simulator supports Fast Playback
Online Forex Simulator – Fast Playback

To switch to the Real-time mode immediately, press the LIVE – button or select Max speed.

Alternatively, you can slow the playback of the recorded data using 1/2X and 1/4X buttons. In this case, the delay will be increasing. This mode may be helpful during fast market action, e.g. around major news releases.

Order operations are possible during both fast and slow playback.

NOTE: If you want to use the recorded data offline, leave the RECORD – button pressed before switching off the network (e.g. before enabling the Airplane – mode).

History

This tab has the table showing all the orders for the current simulation. For each order, its size, open/close time/price and profit are shown. For the active order, SL and TP values are visible as well. The profit is shown both in pips and account currency.

 Forex Trading Simulator - Order History

Forex Trading Simulator – Order History

Below the order list, the simulation log is shown. Most log records are related to order operations, e.g.

08.22 14:48:40 INF BID: 1.31377 ASK: 1.31405 SELL ORDER OPENED AT 1.31377 TICKET: 2 LOTS: 5 SERVER DELAY: 258 MS

In the Back testing mode, the log timestamps correspond to that of the historical data used. Also the server response delay is logged.

NOTE: Both log and the trading history are rewritten when you start a new simulation.

Settings

On this tab, you can adjust the graphics parameters, select account currency and lot size, check for software updates, etc.

For the tick (zoom) graph, you can select the size of the data window. Default value is 10 s, max is 120 s.

For the tick graph, you can select the size of the data window. The range is 120-7200 s.

For the averaged quote graph, you can set the data window size and averaging interval (M1/M5/M15/M30/H1). You can also select plotting mode: line or candlesticks.  If the Scale to orders flag is selected, the vertical scale is adjusted to make visible all the orders placed during currently running simulation.

With Plotting accuracy parameter you can adjust the scale of all price graphs. The parameter value sets how many digits after decimal point are used. The default value is 4.

Indicator graph in the bottom shows RSI. On the middle hraph, you can plot moving averages – (SMA and EMA); the number of periods used in their calculation can be set in the Awer. window control.

For all graphs, you can activate the offset view. In this mode, the graphs will be plotted with a gap on the right. This might make viewing more comfortable.

For the trading server, in the version 1.x you can set min and max values of the response delay. The Simulator generates a random delay value for each request. This setting is only available for Offline (back testing) mode.

Stoplevel (measured in pips, default 5) is a minimum allowed distance to market when placing Stop-loss and Take profit orders. The same value is used for both. Order fill will fail if you try to place the order closer to the market than the minimum distance.

Pip values and profit are always calculated in Account currency, which is USD by default. Another choices depend on the simulation mode.

During offline simulation, you can only choose between the currencies of the current pair. In real-time, 6 currencies are available, but not all the combinations of the account currency and the pair are possible.

Default Lot size is Mini (10,000). It can be changed for every simulation run. The deal size is measured in selected lots. Maximum deal size is 100 lots.

Version check By default, the Simulator checks for the software updates on every start-up. You can disable this by unckecking the box. If a new Simulator version is available, you will be shown the dialog window.

Forex Simulator Version Update Check
Forex Simulator Version Update Check

Clicking OK will open the download page with the update in your browser.

During the check for software updates, the Simulator will also fetch the latest information (e.g. just released features or fixes), and display it in the scrollable info window.

Run online simulation at start-up. By default, this flag is enabled. In this case, the live data feed is turned on immediately when the Simulator is started. After the fresh install, the simulation will use the default currency pair (EUR/USD), otherwise the Simulator will automatically recall the pair that was used in the previous run.

Forex Trading Simulator – Coming Up

Our development is ongoing – so we need your feedback! Please vote for the most needed new features in our poll below. If you have suggestions, please leave a comment or just send us an e-mail. Thanks!

The new features coming up in the next releases:

  • inbuilt tick data recorder
  • trade recording and playback
  • multiuser mode
  • automated trader
  • Real time price sync

The tick data recorder collects the live market data.  You can use it e.g. to record a trading session while you are at work during daytime. And then use the recording and practice on it while commuting home.

With trade recorder/player, you can save your practice and analyze it later.

In multiuser mode, you can practice together with your friends. You can even have a trading contest, which makes practicing fun. Here, one of the Simulators becomes a trading server for a group of people so that all would have the same market data.

Automated trader is similar to the multiuser mode, but here you can compete with an inbuilt automated trading strategy. Or record how this strategy works.

Real time price sync. The Simulatoir will download from the server the price data that you missed during online simulation when your Internet connection was lost.

I want Forex Simulator to have:

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