Using a Forex Trading Simulator in Excel
In my last post I showed you how to use the Deriscope Stock Trading Simulator Excel spreadsheet to place simulated BUY and SELL market orders on US stocks traded on IEX (the Investors Exchange)
In this post I will guide you through another Excel spreadsheet called DsTradingSimulatorFX.xlsm that you can also download for free. This new spreadsheet allows you to place simulated BUY and SELL orders on specific currencies based on real time bid/offer quotes supplied by the TrueFX live feeds provider.
If all you want is a very quick and uncomplicated way (three mouse clicks!) to simply get live feeds in your spreadsheet, check out the 30 seconds videos below:
If you want to see a comparative table of all live feed providers supported by Deriscope, visit the Introduction to Deriscope Live Feeds.
As usually, the only prerequisite is that you have previously installed the free Deriscope Excel Add-In – downloaded from the same site as above - that equips your Excel session with a wizard that allows you to fetch live data from various providers and also perform various financial calculations.
The reason I create a different spreadsheet for Currency trading lies partly on the following differences between Stock and Currency trading:
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