Backtesing proves several important points. One of the most important would be that humans fail to be consistent. We may have a system which works great for us in back test. Yet, in live our results never translate. In almost 100% of the cases it is because we gain bais to a certain position. Which in reality abandons the system which we are back testing. Many of us use 'rules' just as we input them into indicators or EA's [If this happens, then do this] Yet in live it is very rare to do the same. All in all, to make great amount of money in forex. You must trade like a robot. That is with no BIAS, or emotion towards any direction.
Backtest with real tick data then....real tick data is just the same as a live market. The velocity of the price, the exact moment of price surging up and down and the the way the tick behaves are all recorded in a real tick data. Whomever said otherwise doesn't know what they are talking about/have limited knowledge.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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Past performance is not indicative of future results.