HERE ARE FEW BASICS AND TIPS FOR WINNING TRADE MOGHUL
User Help Guide
August 2012
Abstract: A user guide to Trade Mogul.
1 INTRODUCTION
1.1 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 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.
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.
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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 don’t 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.
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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
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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.
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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
The (UTC) time at which an order was received at the server
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
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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
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
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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
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 open to all who seek an exciting career in Financial markets however the prizes are intended for university students only. Anyone who has passed out of the college can still participate but will not be eligible for the prizes. However, should he/she stands in Top 50, the candidate will be called for an interview with Futures First. You will need to provide your university identification number. Additional proof may be required when you claim any prizes.
Registration will open before the start date of the game
Only registered users can play the game
Multiple registration with the same university ID or email ID may result in disqualification from the game
During this round of Trade Mogul only students who are residents or citizens of India are eligible.
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
Euro-FX
0.0001
$12.50
CME-Mini S&P 500
0.25
$12.50
ICE Brent Crude Oil
0.01
$10
COMEX Gold
0.1
$10
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.
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