Chart Master (stock trading)
- 35.5 MB
- Michal Drapiewski
Chart Master App SCREENSHOT
Chart Master App DESCRIPTION
Chart Master is an app which lets you backtest your trading strategy using historical data. This helps you to identify the strengths and weaknesses of your trading and make adjustments as needed, which increases your chances of success.
Chart Master is NOT like a broker’s demo account. With our app, you can fast-forward through historical data and see results much more quickly than with a demo account. This allows you to test many more scenarios and iterations of your strategy in a shorter amount of time.
To prevent you from relying on your prior knowledge and potentially achieving unrealistic profits, the app has the capability to conceal actual asset names, prices, and dates. This ensures that you base your decisions solely on the indications of your trading strategy rather than external factors, resulting in a more accurate assessment of your strategy’s effectiveness.
With ChartMaster you’re able to backtest using different asset types like stocks, commodities (futures), currencies (forex), indexes and cryptocurrencies. They all have different characteristics and thus may require a different approach.
Making mistakes is a natural part of trading, and occasionally our trades may go in the opposite direction of what we expected. It is crucial to understand the significance of protecting your trades using stop loss orders. With Chart Master you have many kinds of orders at your disposal – buy stop, sell stop, buy limit, sell limit. You can also simply open or close a position using a market order.
While commissions, spreads, and slippage are unavoidable realities in the real world of trading, our app allows you to customize these parameters and ensure that your strategy can withstand them and perform optimally in real-world scenarios. In an ideal world, these factors would not exist, but with Chart Master, you can account for them and stay prepared for any market conditions.
In general backtesting using our app enables you to set realistic expectations about the potential returns and risks of your strategy. By looking at past data, you can estimate the maximum drawdowns and other risks associated with your approach, and determine if the potential profits are worth the risk. Backtesting can give you greater confidence in your trading decisions. By knowing that your strategy has worked in the past, you are more likely to stick to your plan even during periods of volatility or uncertainty. Backtesting can help you save time and money by allowing you to test your strategies in a simulated environment before risking your capital in live trading. This can prevent costly mistakes and refine your approach before putting real money at risk.
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Chart Master App DOWNLOAD
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