Simulated Trading
Simulated Trading records the decision, not a live fill
Simulated Trading is a practice ledger in the TradingAgents Report research desk. It starts with 10,000 USD virtual cash, uses delayed quotes as the reference price, and never connects to a broker.
- Opening grant
- 10,000 USD
- Order types
- Market · Limit
- Settlement
- T+0 or T+1
What Simulated Trading is here
Simulated Trading on TradingAgents Report is a server-side ledger: you submit a market or limit order on an enabled listing, the service records the simulated fill or resting order, and cash, positions, and P&L update atomically. The result is a practice record you can inspect—not a live brokerage execution.
How Simulated Trading works
The shortest loop is research, an explicit order, a simulated fill, then review. Reports never place orders on their own.
- 01
Open a simulated account
Sign in to the research desk, open Simulated Trading, and agree that this is practice. The opening grant is 10,000 USD simulated cash. There are no deposits or withdrawals.
- 02
Choose a listing
Open a stock page from quotes, a watchlist, or a report. The ticket only trades the current listing, and only if that market is enabled for simulated trading.
- 03
Submit a market or limit order
Enter side, quantity, and—for limit orders—a limit price. You see estimated cost or proceeds, remaining cash or sellable quantity, lot size, and an estimated credit fee before submit. An optional note of up to 280 characters records the thesis; it does not affect matching.
- 04
Inspect the server-side result
Filled, pending, rejected, and cancelled states come from the server. Review positions, open orders, fills, cash credits, unrealized versus realized P&L, and T+1 sellable quantity in Simulated Trading.
What the simulated ledger records
The account is the source of truth for cash, positions, and orders. Quotes on the page help you decide; they are not the fill authority.
One USD simulated account
Each user has a default USD simulated account. Equity is cash plus holdings. Return uses contributed capital (the opening grant and later credits) as the denominator.
Delayed quotes, saved evidence
Fills use a server-retrieved reference quote, including as-of time and delay. Browser charts and cached snapshots can display price, but they do not replace the quote evidence stored with the fill.
Open session versus resting limits
When the listing session is closed, market orders are rejected. Limit orders can rest and match in the next tradable session, including weekends and holidays in the listing timezone. They do not expire just because the market is closed.
Credits pay the fee, cash stays virtual
Simulated cash is not reduced by fees. Fees are usage points from notional, charged on fills, first from plan points then bonus points. Usage history labels them as simulated trading fees and links the listing.
Research, Simulated Trading, and live brokerage
Keep the three layers separate. A rating is a research output. A simulated fill is an internal ledger result. A live trade requires a broker you connect yourself—outside this product.
| Aspect | Research report | Simulated Trading | Live brokerage |
|---|---|---|---|
| Capital | None. Reports consume analysis credits. | 10,000 USD virtual cash. No deposits. | Real money at a broker. |
| Orders | None. Ratings are not orders. | User-submitted market or limit buy/sell on a simulated ledger. | Broker-routed live orders. |
| Price source | Analysis-date bounded evidence. | Delayed reference quotes saved with the fill. | The broker’s live market access. |
| Outcome | Five-tier rating and decision brief. | Virtual P&L, positions, and an auditable fill history. | Real profit, loss, and settlement. |
Market rules that actually bind an order
Enabled markets carry versioned rules. A rule change affects new orders only; historical fills keep the version that matched them.
Lot size and quantity
Each market sets lot size, minimum and maximum quantity, and a maximum USD notional. The ticket shows lot size and max quantity before you submit.
T+0 and T+1
T+0 names can be sold the same session after a buy. T+1 names cannot sell shares bought today; sellable quantity is shown separately from position size.
Long-only simulated account
The default simulated account is long-only. Short selling, margin, leverage, and liquidation are out of scope.
USD ledger, local quotes
Account cash is USD. Non-USD listings convert with a server FX rate at match time. If FX is unavailable, the order is rejected rather than guessed.
Practice scope, stated plainly
Simulated trading is a notebook for orders you choose to place after research. It records the hypothesis. It is not a substitute for a brokerage account.
Virtual cash, not a broker
The 10,000 USD opening grant, positions, and P&L live on this product’s ledger. There is no custody, deposit, withdrawal, or live order routing.
A saved quote, not an exchange match
Fills use a delayed reference quote stored with the order. They do not reproduce live slippage, queue position, partial fills, or an order book.
Long-only holdings
You can buy and later sell what you hold. The default account does not short, borrow on margin, use leverage, or liquidate positions.
Every order is yours
A Portfolio Manager rating is research, not a ticket. Simulated orders exist only after you submit them.
Enabled markets only
Simulated Trading markets follow the deployment feature flag and the admin-enabled venue list. A listing that can be researched is not automatically tradable here.
Simulated Trading FAQ
Common questions about simulated trading
What is Simulated Trading on TradingAgents Report?
It is a simulated stock-trading ledger in the hosted research desk. You start with 10,000 USD virtual cash, place market or limit orders on enabled listings, and inspect fills, positions, and P&L. Delayed quotes are the reference. No broker is connected.
Is simulated trading the same as a live brokerage account?
No. Live brokerage accounts route real orders and real money. Simulated Trading records internal simulated results against delayed quotes. Virtual P&L is not a forecast of live trading results and is not investment advice.
How much simulated cash do I start with?
The opening grant is 10,000 USD simulated cash. There are no deposits or withdrawals. Return percentage uses contributed capital—the opening grant and any later credits—as the denominator.
How are Simulated Trading fees charged?
Fees are usage points calculated from fill notional under the market rule. Simulated cash is not used to pay fees. Points are taken first from plan credits, then bonus credits, and appear in usage history as simulated trading fees.
Can I use Simulated Trading when the market is closed?
Market orders are rejected when the listing session is closed, including weekends and holidays in that timezone. Limit orders can rest and are matched in the next tradable session by a background worker. They do not expire only because the market is shut.
Does a research report place simulated orders automatically?
No. A report is a research reference. Simulated orders are created only when you submit them. The optional order note can record why you traded; it is not sent to the research agents.
Related research pages
Use Simulated Trading after you understand how a rating is formed and which listings the desk can research.