Thank you for the question.
Before you risk your trading account, Tradecision can perform a realistic trading simulation and tell you about the performance of your trading ideas. In order to get a comprehensive analysis of your trading system you have to define buy and sell rules, money management preferences and probably build your custom indicators using the Strategy Builder and Alyuda Tradecision Formula Language.
Trading strategy is an objective set of rules of when and how to entry and exit positions. This set of rules shouldn’t vary subjectively from day to day based on broker recommendations, friend tips or emotions and therefore can be tested on past data to understand objectively how profitable, reliable and suitable to your trading style it is.
First of all, you need to formalize your own trading ideas or modify/improve the famous ones. To do so, you need to define conditions for your buy/sell orders. To define entry/exit conditions you can use the easy and powerful Tradecision Formula Language that offers over 140 built-in functions and Expression Editor that is designed to speed-up and make easier your rule creation process.
If you are new to strategy development you can start with any of 10 predefined strategies supplies with Tradecision. All of them based on well-known trading ideas and can (or even should) be improved to suit your needs.
Whey your strategy is designed, you need to apply it on historical data to find out whether or not you would have made money have you traded based on your strategy. The future behavior and profitability of your strategy will be different that the past, but past performance gives you a good idea of what is likely to occur in the future.
The Simulations Manager let you realistically simulate your strategy on one or several stocks at once. Once the strategy is simulated you can analyze your strategy using buy/sell signals placed on a chart. You can also analyze the Strategy Performance Report that supplies you with detailed information about the strategy profitability, risk, time analysis and more. Additionally, you can analyze the Trades report with over 10 ratios for each your trade as well as Equity and Drawdown curves.
Once you found disadvantages of your trading system you can correct them and test the strategy again until you are confident in using the strategy to make future trading decisions.
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