trade mogul trading guide
TRANSCRIPT
Trade Mogul User Help Guide
August 2011
Abstract: A user guide to Trade Mogul.
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TABLE OF CONTENTS
1 INTRODUCTION ................................................................................................................ 3
1.1 ABOUT TRADE MOGUL ..................................................................................... 3
1.2 SPONSORS ........................................................................................................ 3
1.3 COMPETITION .................................................................................................. 3
2 DEFINITIONS ..................................................................................................................... 5
2.1 REGISTRATION PAGE ........................................................................................ 5
2.2 TRADE PAGE ..................................................................................................... 6
2.3 MY PERFORMANCE PAGE ................................................................................. 9
2.4 TRANSACTION HISTORY PAGE .......................................................................... 9
3 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
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1 INTRODUCTION
1.1 ABOUT TRADE MOGUL
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
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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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2 DEFINITIONS
2.1 REGISTRATION PAGE
User Name A valid name that you choose to register for the game
Password Choose your own password to register
Email Provide a valid email address - all communications with you will be through this email
Security Question Select your own security question - this will be used in the event that you forget your password
Security Answer 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 Provide your university ID (we will ask for original proof, to include photo-identity, when you claim your prize)
Subject Your academic discipline or major; e.g., electrical engineering, physics, math, finance
Degree Select appropriate degrees that you aim to complete or have completed
Year of completion 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 Address at which you are available
Validation Code This is required to keep the spammers away. Enter what you see on your screen
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2.2 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 The opening price for the instrument; i.e. the first price traded at the start of the day
High 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
2.2.2 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
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ID The unique order ID assigned by the exchange to a valid order request
B/S 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
Qty The total quantity for the whole order that was sent to the exchange
Price The working price in the exchange at which the order was submitted
StopPr The stop price for a stop loss order (otherwise this field is blank)
StopVol 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)
ExeVol The executed quantity of the whole order that was originally sent to the exchange
RemVol The remaining/working quantity of the whole order that was sent to the exchange
M/L Whether this order is market or limit
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 This selection will modify the selected order (note that it is not possible to modify multiple orders simultaneously)
Delete Order(s) Delete the selected orders
Delete All Delete all the working orders in all the instruments
2.2.4 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 The unique order ID assigned by the exchange to a valid order request
B/S Whether this is a buy or a sell order
Product The instrument in which order was sent
Series The expiry month of the instrument in which order was sent
ExeVol 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, Profit-
and-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 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
Overall The overall statistics up to the close of day yesterday
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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3 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.
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
3.1 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.
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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:
Week Limits
Week 1 2
Week 2 4
Week 3 8
Week 4 16
3.4 DECIDING THE WINNER
Winners are decided based on cumulative profit on the closing day of the game.
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4 HOW DO I
4.1 START PLAYING THE GAME?
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
Quantity Buttons The various quantity buttons allow you to select your order quantity and populate it in the quantity spin control
Quantity Spin Control Will increment/decrement order quantity by 1 unit
Price spin control 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.
GFD Radio Button Enables you to select the TIF (Time-In-Force) in the market of your order
Limit/Market Radio Button Enables you to choose a limit or market order type
Stop Check box Checking it makes your order a stop-loss order. A separate section becomes visible beneath the stop check box.
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Stop Price Spin control Enables you to increment/decrement your stop-loss price by one tick
Stop Volume Text Box If the quantity at stop price is less than or equal to this quantity, only then the stop will be triggered in the market
4.3 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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4.9 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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5 FAQs
5.1 DURATION OF THE GAME
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.
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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
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]
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5.12 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