MONEYTREK™

 

Introduction

MoneyTrek™ is the ultimate virtual-reality tool for testing and developing your trading techniques. MoneyTrek™ is based on the very popular tool featured on www.tradetrek.com. Using MoneyTrek™, one can study market history, form trading ideas, test trading skills, and save/review all related charts & data. Equally important, it provides you with detailed reporting with true insight of your virtual trading activities including ranking/comparisons against other users.

Using randomly selected pairs and date ranges the Challenger test allows you to analyze the price and other indicators bar by bar. Based on this information, you can buy or sell and see the running P/L as you go! The actual pair and date range are hidden in order to truly test your ability. At the end of the test, you will see the exact pair and date range used during the test. In addition to Challenger, MoneyTrek™ also offers the Walker test, which gives you the opportunity to select a specific pair and date range to test the behavior of a certain pair. Event Replay allows you to reply key events such as a Federal Reserve meeting to see how the FX market was affected during these events. MoneyTrek™ is highly challenging and very educational. No matter what your trading experience, MoneyTrek™ is recommended for all traders to practice and fine tune their trading skills.

 

Main Menu

 

Challenger

The Challenger tests your skills by using both anonymous dates/time scales and symbols, giving you a chance to truly test your skills.

Symbol: Allows you to choose a specific pair though when using the Challenger, you can leave as an anonymous symbol.

Interval: Refers to your Time Scale options. The ranges is from 5-minute to 8-hour charts for intraday data and features a daily option.

Bar Numbers: This refers to the bars or candles on the chart and more specifically is referring to the amount of bars that you will step through during the test.

Initial Balance: This is your paper-trading account represented in dollars; it gives you the chance to simulate a real account without risking any money.

Hide dates and use the normalized price (Only on Challenger): Offers generic date/time for the test and provides you with a generic price to hide the identity of the pair.

Challenger Me: This button begins a MoneyTrek Challenger test based on the criteria entered above.

 

Walker

The Walker option allows you to get to know distinct historical chart pattern behaviors of each pair at a chosen date and chart interval.

Symbol: Allows you to choose the specific pair to test.

Interval: Refers to your Time Scale options. The range is from 5-minute to 8-hour charts for intraday data and features a daily option.

Start Date: This option allows you to select a specific start date. After selecting the month and year from the drop down menus, click on the exact day with which you wish to begin the test.

Start Hour: Select the actual hour of the day you wish to begin.

Bar Numbers: The amount of bars that you will step through during the test.

Initial Balance: This is your paper-trading account; it gives you the chance to simulate a real account without risking any money.

Begin Walker: This button begins a MoneyTrek Walker test based on the criteria entered above.

 

Event Replay

The Event Replay option allows you to get to know the distinct historical chart pattern behaviors around various critical events.

Symbol: Allows you to choose a specific pair.

Event Type: Choose from Fed Day (Federal Reserve Announcements) or Critical Events that significantly impacted the FX market.

From/To: The start and end dates from which you will scan for the Event Type.

Update Event List: Provides a list of events based on Event Type and the To/From Date range entered.

Begin Event Replay*: This button begins an Event Reply test based on the criteria entered above.

* Note: The Begin Event Replay button is grayed out by default until a specific event is highlighted in the Event List.

 

Status

After beginning a MoneyTrek Case, the Status tab will become the default tab. This window keeps track of the bar you are on during the test in addition to the current values of the indicators added to the test chart. Once the test is completed, the Status window will tell you the actual pair and date range you were using.

 

Trader Comment

The Trader Comment panel allows you to make notes on each specific bar during a test. This panel is visible from the Status tab after beginning a test using any of the three (Challenger, Walker, or Event Replay) testing options. All you need to do is type your comment into the blank area. As you move to the Next Bar, the comment area will clear allowing you to enter a new comment for the next bar. When opening a previously saved MoneyTrek Case, this tool will prove very useful by helping you remember factors and decisions that lead to your trades.

 

Action Panel

The Action Panel is where the test case is controlled. Here you can toggle between buying and selling, change the lot size, add a stop or limit when placing a position. The Action Panel also allows you to continue to the next bar or end the test case.

Here is a summary of each option available within the Action Panel:

Time: Shows the current date and time for the test chart (normalized for Challenger).

Rate: Shows the rate for that bar or candle you are on currently in the test.

Buy/Sell: Use this dropdown menu to add a buy or sell signal to the test chart. To add an exit, just select the opposite action of the last position.

Amount (K): Changes the lot size of the order to be places (default is 10).

Stop: The stop for this specific trade. The field will be cleared after the position is opened.

Limit: The limit for this specific trade. The field will be cleared after the position is opened.

*Note: The Stop and Limit fields must represent an actual price (not pip amount). For example, if the current price is 1.2345 and you wanted to place a 150-pip limit with a 50-pip stop, you would enter the limit price as 1.2495 and the stop as 1.2295.

Buy/Sell Button: Executes the trade based on the information supplied in the above fields.

Next/Bar: Advances the test to the next bar/candle.

End: Will end the test and generate the IntelliReport based on the trades executed to this point.

Cancel: Ends the current test case, no IntelliReport will be generated.

 

Summary

Once you start a test case, The Summary Panel will keep a running total of the following, just like a trading account:

Balance: STotal realized funds.

Equity: The unrealized gain or loss on open trade positions.

Usd Mr: This stands for Used Margin and represents the funds needed to maintain your current open positions.

Usbl Mr: This stands for Usable Margin and represents the funds available for taking new positions.

Gross P/L(Gross Profit/Loss): Total amount of profit or loss for this test.

 

Open Panel

After the MoneyTrek test case begins and a position is opened, the position will be listed on the Open Panel. The same is true for all positions that are currently open. Positions will remain on the Open Panel until they are closed. The Open Panel displays the following information about each open position:

Ticket: Ticket number of the open position.

Amt K: Lot size of the position opened represented in thousands.

B/S: Indicates if the open position is a buy or a sell.

Open: The price at which the position was opened.

Stop: The stop price specified when the order was placed (click here to Modify a Stop/Limit).

Limit: The limit price specified when the order was placed (click here to Modify a Stop/Limit).

P/L: Running profit/loss for this position.

Usd Mr: The amount of margin used for this position.

Entry Time: Date and time position was opened.

 

Close Panel

After a position is closed, it will move from the Open Panel to the Close Panel. Once closed, you can review the following:

Once you start a test case, The Summary Panel will keep a running total of the following, just like a trading account:

Ticket: Ticket number of the closed position.

Amt K: Lot size of the position closed.

B/S: Indicates if the closed position was a buy or a sell.

Open: The price at which the position was opened.

Close: Price at which the position was closed.

P/L: Total profit/loss for the position.

Entry Time: Date and time position was opened.

Exit Time: Date and time position was closed.

 

Chart Panel

When MoneyTrek first opens, you will see a quick start guide in the Chart Panel. This will provide a brief explanation of MoneyTrekĄ¯s options. After beginning a test, the Chart Panel will display the chart you are using for the test. The chart has the same look and feel as a regular Desktop chart with most of the same menu and toolbar options. You will also still have access to the Chart Right-Click menu. The positions opened/closed using the Action Panel will be shown the this chart using the following symbols:

Buy: A blue arrow for a buy.
Sell: A red arrow for a sell.
Buy Exit: Once the position is closed you will see a grey arrow facing down for a buy exit.
Sell Exit: Once the position is closed you will see a grey arrow facing up for a sell exit.

NOTE: Certain tools are not available, such as Pivot Points since they rely on specific price data for a pair.

 

Quick Buttons

The Quick Buttons section is located directly above the Chart Panel. Quick Buttons are your shortcut tools! They give access to key options on MoneyTrek all in one convenient fast location. Here is a breakdown of the Quick Buttons:

IntelliReport: Launches the IntelliReport for the testing session just completed (only available after a test case is finished). This button also allows you to reopen the IntelliReport incase it was closed after automatically launching after the test.

MoneyTrek Report: Opens your MoneyTrek Report in a web-browser. This report can be launched at any time.

Open MoneyTrek Case: Allows you to open a previously saved MoneyTrek Case.

Save MoneyTrek Case: Allows you to save the MoneyTrek Case just completed (only available after a test case is finished).

 

MoneyTrek Cases

This section will provide a step-by-step break down on how to begin a test or MoneyTrek Case using each of the three MoneyTrek Case options: Challenger, Walker, or Event Replay).

 

Saving/Opening MoneyTrek Cases

By saving your MoneyTrek case, you will be able to reload the case at any time to review your trading patterns. You can also review the comments added on each bar during the original test.

Saving a MoneyTrek Case

To open a previously saved MoneyTrek Case:

  1. Click "File", then "Save MoneyTrek Case As" (only available after completing a test).
  2. Navigate to the location where you would like to save the MoneyTrek Case.
  3. Enter a name for the MoneyTrek Case under File Name.

Reloading a MoneyTrek Case

To open a previously saved MoneyTrek Case:

  1. Click "File", then "Open MoneyTrek Case".
  2. Navigate to the location where the MoneyTrek Case is saved.
  3. Highlight the name of the Case and click "Open".

NOTE: By default, all MoneyTrek Cases are saved to the Records folder located inside of the Chart installation folder. All MoneyTrek cases have .actn as the file extension; there is no need to add this extension when saving a Case.

 

Trade Records Replay

Coming Soon...

 

IntelliReport™

The IntelliReport for a test case will automatically open once you complete a test or click the Open PanelEnd Button for the test case. IntelliReport allows you to review and analyze your trades using many different tools. Once IntelliReport opens, you will see there different tabs, Trade P&L Line, Trade List and Trade Analysis in addition to a Strategy and Summary window, for the full breakdown, click here to be brought to the IntelliReport manual.

 

Glossary

This Glossary will help define the various terms relevant to the Forex market referenced in this manual.

Balance: Total realized funds.

Equity: The unrealized gain or loss on open trade positions.

Limit: The price rate at which you position will be closed to capture profits.

  1. If a position is opened by buying a currency pair, the Limit will always be placed above the current market price.
  2. If a position is opened by selling a currency pair, the Limit will always be placed below the current market price.

Rate: Used in reference to the amount needed of one currency to convert it into another (the exchange rate).

Stop and Limit Orders: are orders, which are tied to an open position. Normally a stop order is used to automatically close an open position before additional losses are incurred and a limit order is used to automatically lock in trading profits.

Stop: The price rate at which you position will be closed to prevent further losses.

  1. If a position is opened by buying a currency pair, the Stop will always be placed below the current market price.
  2. If a position is opened by selling a currency pair, the Stop will always be placed above the current market price.

Symbol: A combination of letters used to uniquely identify a pair listed and traded on in the Forex Market.

Used Margin: This is the amount of account equity currently committed to maintain open positions.

Usable Margin: This is the amount of account equity that is not currently being committed to maintain open positions.