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Simulated Futures Trading Service


Introduction

The Sierra Chart simulated futures trading service, provides a very realistic Server-side simulation environment for trading outright futures contracts and also Forex markets within Sierra Chart.

You will have access to your trading results within Sierra Chart and can share the raw order fill data with other users. A trading evaluator can also have real-time and historical access to your detailed trading results.

The features are as follows:

  • Realistic order fills based on estimated position in queue.
  • Server-side OCO orders.
  • Server-side bracket orders.
  • Completely stable.
  • 100% availability. 24 hours a day, 7 days a week.
  • Very fast.
  • Order entry and fills follows market session times.
  • Daily Loss Limit risk management. Based on either specified currency value or percentage of account value. When daily loss limit has been met, can either automatically close positions or only allow orders which will reduce position quantity.
  • Position and order quantity limits both globally and per symbol.
  • Day to day loss limit based upon intial Account Value with trail to break even.
  • Powered by the Sierra Chart/Denali Exchange Data Feed which provides 1400 levels of market depth for CME symbols.
  • Complete, detailed and reliable trade statistics which can also be accessed by a trading evaluator.
  • Long-term (At least 3 Years) order fill history maintained.
  • Account balance tracking with frequent updating. All fields are supported.
  • Detailed and accurate Trade Position tracking with margin calculations.
  • Supports CME/CBOT/NYMEX/COMEX, EUREX, cash Forex, and BitMex tradable products.
  • Delayed version which supports delayed data for CME/CBOT/NYMEX/COMEX. Real-Time data for cash Forex and BitMex. EUREX is not supported with delayed service. No additional cost for delayed data.
  • All trading is performed through a remote server where all of the history is recorded and the Sierra Chart internal Trade Simulation Mode is automatically disabled when using this service.

    This prevents any loss of trading activity from being recorded on the server which would prevent a trading evaluator from looking at the trading activity.

    It has been a common problem when users are using other external trade simulation services, not this one, that Sierra Chart Trade Simulation Mode (Trade >> Trade Simulation Mode On) has been left on and the users trading has not been transmitted to the remote server, preventing the users trading results from being viewable by the trade evaluator. This is no longer a problem with the Sierra Chart simulated trading service.

Trading ICE symbols is not supported.

Setup Instructions

  1. Create your own account for the Trading Evaluator or Trading Evaluator-Delayed service through the Create Server Side Trade Simulation Accounts page.
  2. On the Add / Edit Trade Accounts page, press the Add New Account button.
  3. In the Trade Service Code list box, select either tradingevaluatorserver or the delayed_tradingevaluatorserver depending if you want the trading account created on the nondelayed or delayed a trading server.
  4. In the Trade Account edit box, modify the trade account identifier to be what you want.
  5. In the Load Template list box make sure it is set to Do not load Template.
  6. Update to the current version of Sierra Chart. To do this, select Help >> Download Prerelease.

    For more information, refer to the Fast Update instructions.
  7. If you require real-time futures data, then follow the setup instructions for either Denali Exchange Data Feed or the Sierra Chart Exchange Data Feed. For additional information, refer to Real-Time Exchange Data Feeds Available from Sierra Chart page. Using one of these data feeds is required for real-time futures market data.

    Only those users with funded trading accounts can take advantage of lower-priced CME fees for nonprofessional trading accounts. Otherwise, the higher priced CME fees are required for real-time data. To avoid the higher priced fees if you are a nonprofessional, follow the Easy Solution to CME Funded Trading Account Requirement instructions.

    There is a delayed data version of the Sierra Chart simulated futures trading service which does not require any separate data feed or cost. Other than subscribing to the Sierra Chart Advanced Package. So in this case you do not need to use either Denali Exchange Data Feed or the Sierra Chart Exchange Data Feed.

    It is best and easiest to get started with the Trading Evaluator - Delayed service first.
  8. Optional: It is recommended you install another copy of Sierra Chart on your system to be used with the Simulated Trading Service so this does not interfere with your other existing installation you may be using for other purposes. For instructions, refer to Step-By-Step Instructions to Install Multiple Copies of Sierra Chart. The reason to install another copy of Sierra Chart is so that you have a separate installation just for simulated trading on this service.
  9. Select Global Settings >> Data/Trade Service Settings.
  10. Set the Service to Trading Evaluator [trading] or Trading Evaluator - Delayed [trading].
  11. Press OK.
  12. Connect to the data feed with File >> Connect to Data Feed. If you have trouble connecting, contact Sierra Chart support.
  13. Open a Chart or Trading DOM through File >> Find Symbol.
  14. If you have existing Chartbooks that you have been using with another supported Data or Trading service and you want to use them with the Simulated Trading Service, then when one or more of those Chartbooks are open, select Edit >> Translate Symbols to Current Service.
  15. Add funds to your simulated trading account. Refer to Account Balance Adjustments for instructions.
  16. Submit, modify and cancel orders as you require. Refer to Overview of Trading.
  17. You can view your trading results through the Trade Activity Log Trade Statistics and Trades tabs.

Symbols

The available symbols are listed in File >> Find Symbol. This includes Futures, cash Forex and crypto currency contracts.

Notes

When receiving a security definition message through the websocket server in response to a security definition request for a symbol, in the case of a futures option's symbol, if there is no margin requirement values provided, it is because the exchange is not providing the necessary data to do these calculations.

Trading Account Monitoring through Manager Account

A Sierra Chart account can act as a manager account which allows it to monitor in real-time, the trading activity of multiple simulated trading accounts assigned to other Sierra Chart accounts.

This manager account can also trade these other accounts as well if authorized.

If your Sierra Chart account is also a manager account and has access to other trading accounts, then you will want to follow the Setup Instructions on this page as well to access those trading accounts and monitor them. All monitoring is done through Sierra Chart using the standard interfaces and functions.

For example, the Trade >> Trade Orders Window will list the open orders from all of the trading accounts the Sierra Chart manager account has access to.

The Trade >> Trade Activity Log will list the trading activity from all of the trading accounts the manager account has access to. The Trade Statistics, Trades, Periods Stats, and Account Stats sub windows all function and show the data of individual accounts or multiple accounts.

All of the trading functions in Sierra Chart will work identically and can have access to the other trading accounts. All of the historical trading activity can be viewed through the Trade >> Trade Activity Log.

To allow your Sierra Chart account act as a manager account, contact Sierra Chart Support.

Below are links to the various pages that a Sierra Chart account allowed to function as a manager account can use for creating trading accounts which can be assigned to other Sierra Chart users and assigning them to a manager account.

If your Sierra Chart account is not authorized access these pages, then a message will be given indicating that your account is not authorized.

Account Balance Adjustments

It is supported to perform credit and debit transactions on the Account Balance of your simulated trading account.

The first step is to enable the account to be able to do account balance adjustments. If the account was created by a trading evaluator, then you will not be able to do this directly yourself.

Follow the instructions below to perform credit and debit transactions.

  1. Update Sierra Chart to the current version. Follow the Fast Update instructions.
  2. Go to the Server Managed Simulation Account Settings page.
  3. In the list of accounts, and the left side on the table row for the account press the Edit button.
  4. A form will be displayed to allow the editing of the account. Enable the Allow Account Balance Adjustments option.
  5. At the bottom of the form, press the Save Account button. You are now ready to make account balance adjustments from within Sierra Chart.
  6. Go to Sierra Chart and select Trade >> Account Balances Window.
  7. Left click on the line in the list of the account you want to adjust the balance for.
  8. On the Account Balances window menu, select Balance >> Adjust Account Balance.
  9. Enter a positive number to increase the balance. Enter a negative number to decrease to balance.
  10. Press OK.
  11. The adjustment goes into effect immediately. You will see the adjustment reflected on the line in the Account Balances window for the Trade Account.

Margin Requirement Adjustments

It is supported to adjust the required margin requirement when submitting an order. This can be important because there needs to be a sufficient Account Balance to be able to submit an order to cover the required margin.

Follow the instructions below to adjust this.

  1. Update Sierra Chart to the current version. Follow the Fast Update instructions.
  2. Go to the Server Managed Simulation Account Settings page.
  3. In the list of accounts, and the left side on the table row for the account press the Edit button.
  4. A form will be displayed to allow the editing of the account. In the Use % of Margin field enter the percentage of the margin requirement that you want to use. For example, if you only want to require 10% of the standard margin for an order, then enter 10.

    If the standard margin requirement as set by the exchange is 10000, with a setting of 10, the required margin will then be 1000.
  5. At the bottom of the form, press the Save Account button.
  6. This change will take a few minutes to go into effect.

Using Internal Sierra Chart Trade Simulation Mode

When using the Sierra Chart server-based Simulated Trading Services, all trading and tracking of trade activity is through a remote server. This is to provide a highly realistic trading environment and to ensure there is no modification of trading activity and to allow a trading evaluator to monitor your activity (if applicable).

Therefore, it is not possible to use the internal Trade Simulation Mode when using these services unless you are doing a chart replay.

When performing a chart replay it is possible to enable Trade >> Trade Simulation Mode On. If this command is enabled, then to disable it, remove the checkmark by this command.

To use Sierra Chart Trade Simulation Mode in all cases, follow the instructions below.

  1. Select Global Settings >> Data/Trade Service Settings.
  2. Set the Service to SC Data - All Services.
  3. Press OK.
  4. Open your Chartbook with File >> Open Chartbook if it is not already open.
  5. Translate the symbols in the ChartbookEdit >> Translate Symbols to Current Service.
  6. You will now be able to enable Trade >> Trade Simulation Mode On.

Accessing Real-time Data

The simulated trading service supports both delayed data and real-time data. Delayed data is available for the CME, CBOT, NYMEX, COMEX exchanges.

Delayed data is provided when the Global Settings >>t;> Data/Trade Service Settings >> Service is set to Trading Evaluator-Delayed.

For real-time data you will need to use the Denali Exchange Data Feed.

To take advantage of the lower cost nonprofessional CME Group market data exchange fees, if you are a nonprofessional, then refer to the Easy Solution to CME Funded Trading Account Requirement.

Creating Simulated Account with Template

It is supported to create a simulated trading account which is accessible by a trading evaluator using parameters controlled by that trading evaluator. In this case you will create a simulate a trading account which follows the template specified by that trading evaluator.

To do this, follow the instructions below.

  1. Create a new account for the Trading Evaluator or Trading Evaluator-Delayed service through the Create Server Side Trade Simulation Accounts page.
  2. On the Add / Edit Trade Accounts page, press the Add New Account button.
  3. In the Trade Service Code list box, select either tradingevaluatorserver or the delayed_tradingevaluatorserver depending if you want the trading account created on the nondelayed or delayed a trading server.
  4. In the Trade Account edit box, modify the trade account identifier to be what you want.
  5. In the Load Template list box make sure it is set to the template name of the particular trading evaluator you want to work with.

*Last modified Friday, 21st August, 2020.