Trade Mogul Trading Guide
Trade Mogul Trading Guide
Trade Mogul Trading Guide
Trade Mogul
2011
TABLE OF CONTENTS
1 INTRODUCTION ................................................................................................................ 3 1.1 1.2 1.3 2 ABOUT TRADE MOGUL ..................................................................................... 3 SPONSORS ........................................................................................................ 3 COMPETITION .................................................................................................. 3
DEFINITIONS ..................................................................................................................... 5 2.1 2.2 2.3 2.4 REGISTRATION PAGE ........................................................................................ 5 TRADE PAGE ..................................................................................................... 6 MY PERFORMANCE PAGE................................................................................. 9 TRANSACTION HISTORY PAGE.......................................................................... 9
RULES OF THE GAME ...................................................................................................... 10 3.1 3.2 3.3 3.4 PRODUCTS LISTED FOR TRADING IN THE GAME ............................................ 10 TRADING TIME................................................................................................ 10 RISK LIMITS ..................................................................................................... 11 DECIDING THE WINNER .................................................................................. 11
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Trade Mogul
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1.1
INTRODUCTION
ABOUT TRADE MOGUL
Trade Mogul is a unique and exciting online trading simulation and competition built by Futures First, 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 Futures First 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. Futures First operates in India as part of GHF Groups International Business. The CME Group, collectively the worlds 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. Intercontinental Exchange operates leading regulated exchanges, trading platforms and clearing houses serving global markets for agricultural, credit, currency, emissions, energy and equity index markets including London-based ICE Futures Europe, which hosts trading in half of the world's crude and refined oil futures contracts traded each day.
Trade Mogul
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1.3
COMPETITION
Participants must register themselves for the competition which begins on September 3rd and lasts for four weeks. The competition is open to all students from all universities, irrespective of academic focus, who are citizens or residents of India. Students who major in finance dont necessarily hold an advantage because market information and analytical reports are provided on the website, and because trading success in 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.
Trade Mogul
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2.1
DEFINITIONS
REGISTRATION PAGE
User Name Password Email Security Question Security Answer First Name Last Name Gender Date of Birth University University ID Number Subject Degree Year of completion Alternate Email-ID Phone Address Validation Code A valid name that you choose to register for the game Choose your own password to register 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 Your first name Your last name Your gender Enter your date of birth Name your university 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 Any other email ID of yours for back-up communication Provide your phone number (preferably mobile phone number) on which we can contact you Address at which you are available This is required to keep the spammers away. Enter what you see on your screen
Trade Mogul
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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 High Low LTP LTQ TTQ Blue X button Black X button Red X button The opening price for the instrument; i.e. the first price traded at the start of the day Maximum price traded during the day The lowest price traded during the day The Last Traded Price in the market for the instrument The Last Traded Quantity in the market Total Traded Quantity in the market during the day To pull all buy-working orders for the instrument To withdraw all working orders 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.
Trade Mogul
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2.2.3
ORDER BOOK WINDOW The order book displays all your working orders for this session and earlier sessions. Time ID B/S Product Series Qty Price StopPr StopVol The (UTC) time at which an order was received at the server The unique order ID assigned by the exchange to a valid order request Whether this is a buy or a sell order The asset or instrument of the order 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 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 Delete Order(s) Delete All This selection will modify the selected order (note that it is not possible to modify multiple orders simultaneously) Delete the selected orders Delete all the working orders in all the instruments
Trade Mogul
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2.2.4
FILL BOOK WINDOW The fill book displays all completed transactions in the exchange. Time ID B/S Product Series ExeVol Fill Price The (UTC) time at which order was filled at the exchange The unique order ID assigned by the exchange to a valid order request Whether this is a buy or a sell order The instrument in which order was sent The expiry month of the instrument in which order was sent The quantity of this fill 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 Buys Sells Pos LTP Unrealized P&L Contains the instrument The number of buys for the day The number of sells for the day The net position for that Instrument The Last Traded Price in the corresponding instrument The profit-and-loss (P&L) due to the open positions
Trade Mogul
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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. 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 Weekly view Monthly view Overall Your standing up to the close of day yesterday Your standing up to the Friday of last week Your standings up to the last trading day of the previous month The overall statistics up to the close of day yesterday
Note: users who dont trade are not considered in the calculations above.
2.4
Trade Mogul
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3.1
Each product (except Gold) 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
Trade Mogul
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3.3
TRADING TIME
The Trade Mogul will run for four weeks starting September 3, 2012. The game ends on Friday 28th Setember at the close of trading hours. The users will be able to trade only on weekdays; i.e., Monday to Friday between 1100 IST and 0000 IST. During the rest of the time, the trade page will not be available. Instead, the user will be directed to the portfolio view.
3.4
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 Week 1 Week 2 Week 3 Week 4 Limits 2 4 8 16
3.5
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Trade Mogul
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4.1
HOW DO I
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
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check box. 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
4.3
4.4
4.5
4.6
4.7
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
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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 trade.mogul@ghfgroup.com
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Trade Mogul
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5.1
FAQs
DURATION OF THE GAME
The Trade Mogul game runs for 4 weeks. The competition begins trading on September 3, 2012. The game ends on September 28, 2012 at market closing hours.
5.2
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. 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. 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.
GHF Group | Trade Mogul User Guide
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5.6
5.7
5.8
5.9
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5.10
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.
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5.12
5.13
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5.15
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