Forex Practice ™

Quick Start Guide

Open a new chart

Select the following menu item:
 File / New Chart.

Change chart properties

You can change the currency or time-scale of the chart, by selecting the chart and then selecting the following menu item:
 Indicators / Chart: ticker symbol.

Set the historic time

Select the following menu item:
 Navigate / Go to.
Please note that if you choose a time not in the valid range the chart might not contain any data. This menu-item may be disabled if the program is still in a loading process, if so, please wait a few seconds until it is done.

Once you changed the historic time, please wait a few seconds for the new data to be fully loaded. You can see the loading process in the status-bar on the bottom.

Analyze the chart

Select the chart you want to analyze and then choose any indicator from the Indicators menu.

Add trend-lines to the chart

Select the kind of line you want in the Tools menu, and use the left mouse button to place a line, and the right mouse button to remove a line. Please note that to position certain lines you are required to click the mouse twice in order to indicate line beginning and end.

Advance the time

Simulate that the time has passed, using these menu-items:
 Navigate / Next - pass the time manually 1 minute ahead.
 Navigate / Play - pass the time automatically.
 Navigate / Stop - stop the automatic playing.

You can change the rate of the automatic time-flow in the following menu-item:
Configuration / Preferences
The default is passing 1 minute of historic data each 6 seconds, i.e. 1:10 ratio.

Practice trading

Open a trading console.
 File / Trading console.
You can open an order by selecting the following menu-item:
Account / Submit order.

Market orders are executed immediately according to the current rate of the desired currency, while other kinds of orders might be held until a certain condition is met.

If you open an order in the opposite direction of an existing position of the same currency, both positions might be closed automatically. You cannot have two positions in the opposite direction for the same currency. Actually this is a way to close a position.

Learn from the practice

You can see the bottom-line success in the trading console, or a detailed history of your trades in the following menu-item:
Account / Trades history.

Use this information to learn whether your investment strategy is profitable or not. If you have many losses, go back to the chart and try to find hints why the rates did not change according to how you thought they should.

If your practice shows significantly more profits than losses, you are probably ready to move on...

See also

• Programming user-defined indicators