Back testing strategies on SaxoMT4 platform

We all have our preferences when choosing which platform to use when trading. We have lost and made profits at some point and so have I when using the SaxoMT4. There are tons and tons of strategies out there but it is a good idea to always remember to backtest whichever strategy that we choose to use for our trades.

Most newbies are not aware of how they would backtest a strategy or, rather, some are not even aware that strategies are backtested. I wasn’t aware when I first began trading and for a long time, just traded on the platforms blindly.

Backtesting is somewhat the same in most of the platforms.

As we all know, it is a great idea to have a plan that works after downloading the trading platform. Automating or, rather, implementing the idea in our platform of choice would help us to stick to the rules. But being human, we could forget some vital points about how the given strategy works and that is why automation would be recommended.

It is possible to copy trade, mirror trade, or just buy the software from someone who has already made it. The EA, Expert Advisors, on any platform could also help. At the moment, I am using pipnotic which is automated in my SaxoMt4 demo account to see if the profit percentage would increase. SaxoMT4 also has great EA.

We have to know what increases profits in our accounts. I have found out that the automated strategies work miracles when it comes to the profit levels once we get one that works. However, backesting these strategies is vital because we would like to be sure that the strategy can be automatically executed whenever we want. Testing them on a demo account would be best because in case the strategy does to know what is entailed in it. Many traders out there are saying that they have automated strategies with proven performance. In this case, it is okay to be the doubting Thomas and not trust what they say. I would test it first on a demo account.

Quick summary of how to backtest
After opening the SaxoMT4 trading platform  on your screen, click on tools, then go to the history centre. Then on the left, there are a number of symbols that you can choose from. Double click on the one of your choice to a yellow colour,  further double click on the preferred pair and choose the timing which you want. This could be daily, or weekly or monthly and so on, then download. According to the exported information, I was able to see a 10-year data set from 2003-2013. You can then click on view and move the cursor to strategy tester. In case you need further help with backtesting, feel free to leave a comment on which areas you are struggling with and I would be glad to help.

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