This product requires some level of Forex trading experience. If you have less than a month of trading experience, you will not be able to use it effectively. Better start with a demo account at any Forex broker. Don’t risk real money until you traded demo for at least 1-2 months.
The main goal of the product is to help you to develop practical skills at recognizing and using typical trading setups. I don’t believe in the future of automated trading, so I tried to mix the best from both worlds: automate trading education and practice, plus create powerful tools to gain statistical advantage. It’s like the fighting simulator in the Matrix movie.
So, you have just downloaded the product. Install it like any other Windows application, then launch it.
After your downloaded and installed Forex Simulator, download any data set to view more tickers, lessons and exercises. Limited demo data set comes with the installation, there is no need to download it separately.
Launch the product, take a quick glance at blue hints spreaded over the interface, then close them. If you don’t understand them or need more details, click ”Learn more...” links at the bottom to view detailed documentation in your browser.
Click ”Open a lesson” button, you will see the list of available lessons.
Click on any of the lessons, you will see the list of available exercises for a selected ticker. When you switch between tickers, you will see other exercises. Each ticker has up to 500 exercises for each lesson, depending on the number of patterns detected in the past.
Click Learn button to learn theory. Don’t skip this step because you can find some important details and learn best practices. I also share my personal experience on how to better organize practice sessions.
After you learned theory, click Practice button.
It will automatically start the very first exercise. The simulation will rewind to 10 minutes before the hour of the reversal. You will get enough time to find an entry point, detect stop loss level and create an order. Or, you can speed up the simulation until it hits the predefined point, then enter the market manually.
After you created limit order or got ready for entering the market manually, move mouse cursor over the chart, then scroll the chart up using mouse wheel. This way you will speed up the simulation. It enables you to get hours of experience in seconds. If you need to slow down the simulation, rotate the mouse wheel back.
When the price activates limit or stop orders, the simulation will slow down automatically. It will stop when an exercise comes to the end.
If you missed entry point or placed the order at a wrong price, double click on the exercise to relaunch it. The simulation will rewind to the beginning of the exercise, all old orders will be automatically deleted.
You should run first exercises slowly and carefully, lazer-targeting entry points and stop losses. But, as you earn more and more experience, you will naturally do it faster and faster. At the end, when you will finally do it on auto-pilot, you can save time by using mental orders, without placing actual orders but just speeding up the simulation to watch price movements to test your ideas. It’s important to use at least mental orders because it will fill your brain with important patterns and information.
After you learned and practiced enough to feel confident, don’t rush into trading real money. Better start with a demo account for at least 1-2 weeks. And, in any case, don’t risk more than 1% of your account in any trade.
If something doesn’t work as expected, please contact support. It will be especially interesting to get fresh ideas on lessons and exercises.