Trade Mogul User Help Guide August 2011
Abstract: A user guide to Trade Mogul.
Trade Mogul
2011
TABLE OF CONTENTS 1
2
3
INTRODUCTION ................................................................................................................ 3 1.1
ABOUT TRADE MOGUL ..................................................................................... 3
1.2
SPONSORS ........................................................................................................ 3
1.3
COMPETITION .................................................................................................. 3
DEFINITIONS ..................................................................................................................... 5 2.1
REGISTRATION PAGE ........................................................................................ 5
2.2
TRADE PAGE ..................................................................................................... 6
2.3
MY PERFORMANCE PAGE................................................................................. 9
2.4
TRANSACTION HISTORY PAGE .......................................................................... 9
RULES OF THE GAME ...................................................................................................... 10 3.1
PRODUCTS LISTED FOR TRADING IN THE GAME ............................................ 10
3.2
TRADING TIME................................................................................................ 10
3.3
RISK LIMITS ..................................................................................................... 11
3.4
DECIDING THE WINNER.................................................................................. 11
4
HOW DO I ....................................................................................................................... 12
5
FAQs ............................................................................................................................... 15
GHF Group | Trade Mogul User Guide
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Trade Mogul
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INTRODUCTION
1.1
ABOUT TRADE MOGUL
2011
Trade Mogul is a unique and exciting online trading simulation and competition built by GHF Group. The game is designed for you and other students at top-tier universities to experience trading using real-time prices from international futures markets in oil, gold, foreign exchange and equities. This challenging and engaging game allows you to: o Taste the thrill and challenge of trading in huge, fast-moving international futures markets o Test your analytical skills and risk aptitude for trading – and to open doors to an exhilarating and lucrative career in financial services. o Compete for prizes based on who trades best to maximize their Profit & Loss account during the month of the competition o The top 50 scorers will be invited to interview with GHF Group o Weekly prizes o Overall grand prizes
1.2
SPONSORS Trade Mogul is sponsored by GHF Group, an internationally recognized powerhouse of analytical trading that has built a leading reputation in international financial markets. GHF Group has a history of attracting gifted graduates from top universities and institutes to a career where they can leverage their analytical abilities through direct participation in world markets. In India, it is brought to you by Futures First, which operates in India as a part of the GHF Group’s international business. The CME Group, collectively the world’s largest derivatives exchanges, provides live price feeds for four different product markets to enable you to test your skills with live data and compete with other students.
1.3
COMPETITION Participants must register themselves for the competition which begins on September 6th and lasts for four weeks. The competition is open to all students from all universities in India, irrespective of academic focus. Students who major in finance don’t necessarily hold an advantage because market information and analytical reports are provided on the website, and because trading success in GHF Group | Trade Mogul User Guide
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Trade Mogul
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Trade Mogul reflects the acuteness of pure numerate and analytical skills more than knowledge of international markets. Experience shows that successful competitors come from across all academic disciplines, especially those that require strong numerate and analytical skills, and that students find the game so engaging that they turn to the vast expanse of internet sources of information about the markets and basic trading strategies. In addition to enjoying this test of your abilities against the market and other students, you will learn about international markets and about your own interests and abilities. In terms of the competition, participants are ranked on the basis of their profit and loss (P&L) accounts, provided that they achieve the minimum volume level of trades. Students who succeed in the competition win prizes totalling and can win interviews for a career with Futures First.
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Trade Mogul
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DEFINITIONS
2.1
REGISTRATION PAGE
2011
User Name
A valid name that you choose to register for the game
Password
Choose your own password to register
Email
Security Answer
Provide a valid email address - all communications with you will be through this email Select your own security question - this will be used in the event that you forget your password To your self-defined security question
First Name
Your first name
Last Name
Your last name
Gender
Your gender
Date of Birth
Enter your date of birth
University
Name your university
University ID Number
Year of completion
Provide your university ID (we will ask for original proof, to include photo-identity, when you claim your prize) Your academic discipline or major; e.g., electrical engineering, physics, math, finance Select appropriate degrees that you aim to complete or have completed Select the year when you plan to complete this degree
Alternate Email-ID
Any other email ID of yours for back-up communication
Phone
Provide your phone number (preferably mobile phone number) on which we can contact you Address at which you are available
Security Question
Subject Degree
Address Validation Code
This is required to keep the spammers away. Enter what you see on your screen
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Trade Mogul
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TRADE PAGE The Trade page has multiple components to provide the user a virtual feel of a trading desk. It has a price ladder for each of the instruments with embedded controls to view the order entry window and pull orders, an order book, a fill book, and a portfolio and message book.
2.2.1
INSTRUMENT PRICE LADDER The price ladder displays real-time depth of market price data for the instrument. On the left hand side it displays the open, high and low prices achieved from start of day. Beneath it is the last price, last quantity and total quantity traded in the market. Open
2.2.2
High
The opening price for the instrument; i.e. the first price traded at the start of the day Maximum price traded during the day
Low
The lowest price traded during the day
LTP
The Last Traded Price in the market for the instrument
LTQ
The Last Traded Quantity in the market
TTQ
Total Traded Quantity in the market during the day
Blue “X” button
To pull all buy-working orders for the instrument
Black “X” button
To withdraw all working orders
Red “X” button
To pull all sell working orders for this instrument
TIME AND SALES WINDOW This window displays all the trades in the market subject to a maximum of the last 1000 entries. You can select an instrument for which you want to see the trades.
2.2.3
ORDER BOOK WINDOW The order book displays all your working orders for this session and earlier sessions. Time
The (UTC) time at which an order was received at the server GHF Group | Trade Mogul User Guide
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ID
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B/S
The unique order ID assigned by the exchange to a valid order request Whether this is a buy or a sell order
Product
The asset or instrument of the order
Series
The expiry month of the instrument on which the order was submitted The total quantity for the whole order that was sent to the exchange The working price in the exchange at which the order was submitted The stop price for a stop loss order (otherwise this field is blank) The threshold volume at which the stop loss order gets triggered (if the available quantity in the market is not below this threshold, then the stop will not be executed even if the price gets triggered) The executed quantity of the whole order that was originally sent to the exchange The remaining/working quantity of the whole order that was sent to the exchange Whether this order is market or limit
Qty Price StopPr StopVol
ExeVol RemVol M/L TIF
Time In Force; i.e. whether this order is GFD (Good For Day)
A context menu is displayed when you select and right-click one or multiple orders. It is possible to select multiple orders by using the Control keyboard button. Modify Order
2.2.4
Delete Order(s)
This selection will modify the selected order (note that it is not possible to modify multiple orders simultaneously) Delete the selected orders
Delete All
Delete all the working orders in all the instruments
FILL BOOK WINDOW The fill book displays all completed transactions in the exchange. Time
The (UTC) time at which order was filled at the exchange
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ID
2011
B/S
The unique order ID assigned by the exchange to a valid order request Whether this is a buy or a sell order
Product
The instrument in which order was sent
Series ExeVol
The expiry month of the instrument in which order was sent The quantity of this fill
Fill Price
The price at which order gets filled in the exchange
In exceptional situations, the fill book may show the same fills twice. This happens due to improper synchronization of large data flow at your end. Refresh the page to remove this double fill message. Alternatively, access your correct fills from the “Transaction History” page. The fill book will display no more than 50 fills due to data limitations. Check the “Transaction History” page. 2.2.5
PORTFOLIO WINDOW This section helps you see the consolidated risk components viz. positions, Profitand-Loss (P&L) etc. Contract
Contains the instrument
Buys
The number of buys for the day
Sells
The number of sells for the day
Pos
The net position for that Instrument
LTP
The Last Traded Price in the corresponding instrument
Unrealized P&L
The profit-and-loss (P&L) due to the open positions
Total P&L
The sum of unrealized and realized P&L; i.e. the total P&L for the instrument at this point in the day
The last row sums up the corresponding values for all the instruments.
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2.2.6
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MESSAGE BOOK WINDOW This window contains your communications with the exchange. These usually concern order-related requests sent to the exchange.
2.3
MY PERFORMANCE PAGE This page contains your past trade data. You can see daily, weekly, monthly and overall P&L as well as your rank standings in the game. Yesterday View
Your standing up to the close of day yesterday
Weekly view
Your standing up to the Friday of last week
Monthly view
Your standings up to the last trading day of the previous month The overall statistics up to the close of day yesterday
Overall
Note: users who don’t trade are not considered in the calculations above.
2.4
TRANSACTION HISTORY PAGE This page allows you to view fills for any trading day in your history in the game.
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RULES OF THE GAME The Trade Mogul game is intended for university students only. You will need to provide your university identification number. Additional proof may be required when you claim any prizes. Who is eligible? Only active university students are eligible. Your registration will be terminated at any point if you are not an active student.
3.1
Registrations are open Only registered users can play the game Multiple registration with the same university ID or email ID may result in disqualification from the game
PRODUCTS LISTED FOR TRADING IN THE GAME Four products or assets are available for you to trade in the game. Product
Tick Size
Tick Value
10yr T-Notes
0.005
$15.625
Mini S&P 500
0.25
$12.50
Light Sweet Crude Oil
0.01
$10
Gold
0.1
$10
Each product will have an expiry date during the tenure of the game, after which you will not be able to trade in them. Moreover, all open positions will be closed at the closing price on the expiry day. The next calendar series of the same product will be available for trading on the next day.
3.2
TRADING TIME The Trade Mogul game will run for four weeks starting September 6, 2011. The game ends on Friday, 30th September 2011. The users will be able to trade only on weekdays; i.e., Monday to Friday between 11:00 IST and 00:00 IST. GHF Group | Trade Mogul User Guide
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During the rest of the time, the trade page will not be available. Instead, the user will be directed to the portfolio view.
3.3
RISK LIMITS Risk limit refers to the maximum number of orders you can send in one instrument. You can always choose to send fewer orders than the maximum risk limit. Since each product will have same risk limit, you can send 4X buy orders and 4X sell orders in total (X is the risk limit for that week for each product). Everybody participating in the game will have the same limits. The risk limits will change every week, and these new limits will be displayed on your “My Performance” page. The limits for each week will be:
3.4
Week
Limits
Week 1
2
Week 2
4
Week 3
8
Week 4
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DECIDING THE WINNER Winners are decided based on cumulative profit on the closing day of the game.
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HOW DO I
4.1
START PLAYING THE GAME?
2011
Step1 – Register with Trade Mogul. Step2 – Login to the game. Step3 – Go to “Trade” page by clicking on “Trade” on the left menu of the game. You have now landed at the trading page. You are now ready to join the game.
4.2
SEND ORDER (ORDER ENTRY WINDOW)? Go to the instrument to which you want to send the order. Left click on the price/quantity you want to send the order. If you clicked on a bid, the order entry window will default to BUY order type and SELL otherwise. But it is possible to change the order type from Buy-to-Sell and vice-versa. Choose the appropriate parameters for the order and click on “Send Order” button at the bottom right corner of order entry window. You will see a message in the Message Window confirming the receipt of your message. If the order is accepted by the exchange, the Order Book will display the order. Otherwise the Message Window will show the appropriate message. The various parameters for order are: Parameter
Explanation
Buy/Sell Button
This button enables you to select whether your order is BUY order or SELL order in the market The various quantity buttons allow you to select your order quantity and populate it in the quantity spin control Will increment/decrement order quantity by 1 unit
Quantity Buttons
Quantity Spin Control Price spin control
GFD Radio Button Limit/Market Radio Button Stop Check box
Increment/decrement the price by one tick (unit size). The default price is the one against which you left clicked in the price ladder window. Enables you to select the TIF (Time-In-Force) in the market of your order Enables you to choose a limit or market order type Checking it makes your order a stop-loss order. A separate section becomes visible beneath the stop check box. GHF Group | Trade Mogul User Guide
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Stop Price Spin control Stop Volume Text Box
4.3
2011
Enables you to increment/decrement your stop-loss price by one tick If the quantity at stop price is less than or equal to this quantity, only then the stop will be triggered in the market
SEE MY OVERALL P&L FOR THE GAME? Your P&L until the close of yesterday is available on the “My Performance” page. Add today’s Total P&L to it from the Portfolio Window to see your overall P&L as of this moment.
4.4
SEE WHERE MY COMPETITORS STAND? Click on the “Rankings” tab to see who was where as of yesterday.
4.5
DELETE ALL THE WORKING ORDERS FOR ALL THE INSTRUMENTS? Right click in the order book and choose Delete All.
4.6
SEE TECHNICAL REPORTS FOR A PRODUCT? There is a reports page dedicated to technical reports only. Click on the instrument for which you want to view the report.
4.7
SEE MY REAL-TIME RANK IN THE GAME? It is not possible to see your real-time rank. However, you can see your rank at the close of the previous day of trading. (This is refreshed at the close of each trading day).
4.8
SEE EACH AND EVERY TRADE FOR A PARTICULAR INSTRUMENT/PRODUCT DURING THE DAY? Because of data limitations, Trade Mogul only displays a certain number of previous trades in the Fill Book. You can download all the fills from “Transaction History” page.
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Trade Mogul
4.9
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ALLOCATE CAPITAL FOR TRADING? You are provided with a fixed number of contracts that you can trade in each instrument. Choose the number of contracts you want to trade relative to this maximum. This limit will be revised weekly.
4.10
CLAIM MY PRIZE? We will contact the winners through the email and phone numbers provided. If you have questions, feel free to contact us at
[email protected]
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FAQs
5.1
DURATION OF THE GAME
2011
The Trade Mogul game runs for 4 weeks. It starts on September 6, 2011. The game ends on September 30, 2011 at market closing hours.
5.2
WHAT DO YOU MEAN BY SQUARING OFF A POSITION To complete any trade, there has to be a buy and a sell transaction in any order. If in your portfolio it shows an open position of -2, then to square that off (bringing it to 0), you need to buy 2 lots. Remember, all positions will be squared off at the end of the day at the closing price (00:00 IST). You will not be allowed to carry any positions overnight. Welcome to the exciting world of Intra-day trading.
5.3
HOW DO I TRADE The simple answer is just buy and sell. Keep doing it again-and-again and you end up TRADING. There is no handbook of trading. But there is lot of information available on the internet. You will learn more about trading the more you read and the more you trade. Trading is not a short term affair. Don't lose heart if you do not do well initially. Keep your focus and keep at it. The markets will move and you will have opportunities to come back. Also in the later weeks you will have more size to trade with and a small setback in initial weeks has nothing to do where you stand in the overall competition. Note that the trading limits are progressively increasing. You can make more profit (or lose more) as limits increase.
5.4
LIMITS BREACHED You can only trade a limited number of securities at any time. This limit is the same for everybody. When you send a new order or modify an existing order, the system checks whether the net outcome is within the prevailing limits. If it is not, then your request gets rejected and you see the corresponding message in the Message window. For example, suppose the prevailing limit is 2 and you are already short 2 lots in an instrument (i.e. your net position is -2). Now if you try to send any sell order in this instrument you will get a limits-breached message. GHF Group | Trade Mogul User Guide
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Similarly, you can send two orders of 2 lots each to buy in this instrument as this could change your net position to 2 (which is within limits). But if you try to send an order of 4 lots then you still get a limits breached message. This happens because the system expects you to send an order of a maximum of 2 lots.
5.5
NOT ABLE TO LOG-IN TO MY ACCOUNT Try ‘Forgot password’ link.
5.6
OVERNIGHT POSITION CLOSING The system stops accepting requests at the close of trading. If you think there are some open positions, need not worry, all positions open at the end of the day, will be squared off at the Last trading price at closing (00:00 IST)
5.7
ORDER SERVER DOWN This will happen inevitably because of the huge volumes that you are helping to generate. We are working to keep the system stable and operating around the clock. Be patient, and try again.
5.8
UPDATE PERSONAL INFORMATION Please register properly. If you have mailed/contacted us for change of some information, we will incorporate these changes later in the competition.
5.9
I AM NOT ABLE TO SEE THE WEBSITE IN FIREFOX (OR CHROME, OPERA, SAFARI ETC.) The Trade Mogul is supported in Microsoft Internet explorer version 8. It is best viewed in 1280X800 resolution.
5.10
WHOM SHOULD I CONTACT IN CASE OF A PROBLEM? The quickest way is to use the “Contact Us” page where you get the fastest response. Otherwise you could send an email to the administrator at
[email protected]
5.11
MY COLLEGE DOES NOT HAVE A COLLEGE ID? COULD I STILL PARTICIPATE? No. If this is the case, contact the administrator at
[email protected] GHF Group | Trade Mogul User Guide
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5.12
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I DON’T THINK MY P&L IS CALCULATED CORRECTLY Contact the administrator at
[email protected].
5.13
I WANT TO LOG OUT BUT KEEP MY WORKING ORDERS You can log out of the system and your orders will continue to work in the exchange. You could see them once you log back in. If they were filled in the meantime, you will see corresponding entries in the fill book.
5.14
CAN I UPDATE MY PROFILE? We strongly discourage editing your profile. Please contact the administrator at
[email protected].
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