Simulation Broker
Right mouse click on a chart to
display a pop-up menu for the chart. Click on the menu entry for Sim-Broker
to show the simulated order entry form. This simulation broker can also be
used real-time to track trades for any symbol. Sim-Broker tracks trades
for the chart that opened the Sim-Broker form.
The form is divided into thirds. The left third is where you enter your
actions. The middle section shows a summary of trades that have been
placed. The right hand side shows a transaction log. Click on the
Printer button on the main button bar to print the Summary information and the
Transaction Log.
Market Order:
In the Order frame, select Buy or Sell, then select an order Type. The
Type can be a market order, limit price, stop or stop and reverse. The
trade quantity can be entered. Simulated stock trades might use a
quantity of 100-200 etc. For the DEMO symbol, use 1 or 2, or the quantity
you would usually trade for ES or NQ.
The next box is where Price is entered, followed by the Submit button.
For practice, select the Buy bullet, Market bullet, with a quantity of 1.
Then click Submit button. In so doing a time stamped transaction is posted
in the log. It will read: Buy 1 @ Market. Shortly
thereafter a fill is received back with a time stamp and fill price.
This will initiate a position shown in the Summary frame. Further to the right
the current price is shown. The next line in the summary shows the
profit/loss for this open position. Under trades is shown the accumulation
of all trades made using Sim-Broker and the total profit loss for all trades.
Underneath the summary window is an edit box where the commission for a round
trip trade is entered. A typical commission is ten dollars. Next to
Commission is a box to select a marker. When a marker is selected the fill prices for buys and
sells will be marked on the chart. Sell markers are shown in red and Buy
markers are shown in green.. The chart also shows the stops and limit
buys/sells with short horizontal lines.
A position is closed out by buying or selling the opposite side of the
position. After completing a round trip the Position Summary will show
Flat, and a horizontal break line will be posted to the transaction log.
Limit Order:
Pending limit orders and stops are shown in the pending frame with a price by
the checked box. To enter a limit buy, select Buy and Limit. The
Price window will show a static number that was the current price when the order
Type was changed to Limit. You can use the spinner arrow that is part of
the Price box to increment or decrement the price. Click the Submit button
to post a message to the transaction log: Buy 1 @ .........
The Pending frame will show a check mark by the word Buy and then a price.
If the market goes lower and touches the Limit Buy price, the check in the Buy
checkbox will be removed. A message will post in the transaction
log: Bought 1 @ and the fill price. Use the buy/sell Limit
order to place orders where you want to buy or sell.. Limit buys will be below
the current price. Limit sells will be above the current price.
Stop Orders:
Likewise, stops can be used to go long or short. Select Buy or Sell,
and market type would be Stop. The stop also needs a price. Buy
stops are placed higher than current price and will be shown on the chart with a
short horizontal green line by the price scale. The Buy Stop BS checkbox
in the pending section will become checked and show the stop price. Stops
are easily adjusted by submitting the stop order again using a new price.
The location of the alert line will be adjusted to the new stop price. A
later stop cancels the earlier stop.
Cancel Order:
The items that show in the pending frame can be canceled by unchecking the
box. A buy stop is canceled by clicking the BS checkbox. This
removes the stop and the entry made to the transaction log will show
xx BS 1 @ ...... The xx in the log entry means
'canceled'.
Stop and Reverse:
SAR is a stop and reverse. If long, enter a SAR at a lower price
to go short. If the SAR price is touched, then the long position will be
liquidated and reversed short the number in the Quantity box. If position
is long 5, and a SAR with Quantity 1, it will then sell six, five to go flat and
1 to go short. SAR can be put on either side of the current price.
Auto Scalp:
Enter a positive value in the Auto Scalp box to have Sim-Broker
automatically place a Buy Limit or a Sell Limit order when an order if
filled. The scalp distance is the Auto Scalp value. For
example, if Auto Scalp is 2.00, and the Buy order if filled at 1190.00, a
Sell Limit order will be placed automatically at 1192.00.
Auto Stop:
Enter a positive value in the Auto Stop box to have Sim-Broker automatically
place a Buy Stop or a Sell Stop when an order is filled. The stop
distance is the Auto Stop value. For example, if Auto Stop is 1.00,
and the Buy order is filled at 1190.00, the Sell Stop order will be placed at
1189.00.
Reset Button:
The Reset button will clear the summary and transaction log. Another
characteristic is that Sim-Broker is doing a lot of math and tracking trades,
and the form needs to be open. The form can be minimized but not
closed. Sim-Broker will not work if closed. Multiple Sim-Broker
forms can be open simultaneously to track different symbols.
| 
