Simulated Account

For convenience, MotiveWave™ has a built in simulated account that you can use to practice your trading. If you chose a data service for your workspace, then this account will be enabled by default. If you are using a broker, it is recommended that you use a demo account if provided by your broker instead. Broker demo accounts will provide a better simulation of their trading environment and supported order types and behaviors.

The simulated account can be configured from the "Settings" dialog (Configure > Settings from the Console menu bar). Click on the "General" tab then on the "Simulated Account" tab. This panel has the following fields:

• Sim Trade Only – Check this box to disable trading for all accounts except for the Simulated Account

• Enabled – Check this box to enable or disable Simulated account(s)

• Fill Immediate – If checked market orders will be filled immediately at the current bid/ask value instead of waiting for the next trade

• Include Commission – If checked, commissions will be included when placing trades.

You can have multiple simulated accounts in one workspace. To add a new account, click on the plus icon (+) . A dialog to set up a new simulated account will show up with the options below:

• Name: Assign a name for your account. If you don't set up a name, it will show the ID of the account.

• Base Currency – Base currency for the account

• Case Balance – Initial Cash Balance

To edit an existing account, click on the edit button or double left click on an existing account. You can reset the account back to the initial cash balance by clicking on the "Reset Account" button. This also removes all simulated positions, orders, trade history in that account.

If you have the simulated account enabled, you will see an entry in the Accounts panel for the account(s):

Should you intend on using a simulated account immediately after enabling it, then we recommend setting the simulated account as the default account in your Accounts panel. Any orders placed via MotiveWave® will default to the ‘Simulated’ account first.

To set the ‘Simulated Account’ as the default account, simply right click on the listed ‘Simulated’ account in the Accounts panel and select "Set As Default Account".

For more details on the simulated account feature of MotiveWave, please refer to the Trading section of the User’s Guide.