TEST the our recommended software before going live!
Most traders would agree that they'd like to "test
drive" a system before using it. Some programs allow this through
"back-testing," in which the program uses historical data to execute the
trades and show you what they would have been.
This is not always accurate, as there is much data needed to perform a
thorough back-test and it's nearly impossible to replicate
circumstances with just the historical data. In addition, how the system
performed in a market last month or last year does
not indicate how it will
perform in the here and now.
automated trading software will let you practice stock trading using a
live real-time data feed during market hours. This is
the preferred method, as
it gives traders a very realistic view of how their trading strategy is
performing and the ability to feel the
highs and lows of daily trading without
investing real money. If you can simulate trades, you won't need to open an
account until you go "live" with real money. Ask if there is
a limit on how long you can run in the simulation mode.
You should look for a robotic software
with the ability to simulate strategies in real time
indefinitely before you run them live.