Your first week on 777 Raptor.

Your ticks are kept in this browser only.

1. DAY 01

   Open the demo and find your way around

   Know where everything is before anything is at stake, even pretend stakes.

   What to do

   1. 1In the client portal, open a demo account: choose 10,000, 50,000 or 100,000 in virtual US dollars.
   2. 2Open the terminal from the portal with “Open in Raptor”. You are not asked to sign in a second time.
   3. 3Find the five parts of the workspace: the watchlist, the chart, the order ticket, the order desk and the account bar.
   4. 4Choose two or three symbols in the watchlist, one after another, and watch the chart and the order ticket follow.
   5. 5Place no order today.

   Where it is

   The demo is opened in the client portal, on the page “Open a demo account”. In the terminal, the watchlist lists the symbols, the chart shows the one selected, the order ticket is where an order is built, the order desk holds the “Order”, “Pending” and “History” tabs, and the account bar runs along the bottom.

   What you should see

   The account bar reads Balance, Equity, Margin, Free Margin and Margin Level. With no position open, Balance and Equity are both the amount you chose. Beside the prices the terminal says “Simulated prices. Not market prices.”

   The terms to know

   • Balance
   • Equity
   • Bid Price
   • Ask Rate
   • Spread

   Goes with it

   • The workspace, panel by panel

   I have done day 1. Kept in this browser only.

2. DAY 02

   Place a market trade, and close it

   One order in, one order out, at the smallest size.

   What to do

   1. 1In the order ticket, leave Order Type on “Market Execution”.
   2. 2Set Lot Size to 0.01, the smallest size.
   3. 3Choose Buy or Sell and place the order.
   4. 4Find the position under the order desk’s “Order” tab and read its row: size, price and running result.
   5. 5Close the position from its row.

   Where it is

   The order ticket, for the order. The order desk’s “Order” tab, for the open position. Its “History” tab, once the position is closed.

   What you should see

   A buy is filled at the ask and a sell at the bid, so the position starts a little behind: that distance is the spread. While it is open, Margin in the account bar is no longer zero and Equity moves with the price. When you close it, the trade moves to History and Balance changes by its result.

   The terms to know

   • Market Order
   • Lot
   • Pip
   • Spread
   • Bid Price
   • Ask Rate

   Goes with it

   • Order anatomy
   • Pip value

   I have done day 2. Kept in this browser only.

3. DAY 03

   Set a stop-loss and a take-profit

   Decide where the trade ends before it begins, in both directions.

   What to do

   1. 1Build another 0.01-lot market order, and before placing it fill in “SL / TP”.
   2. 2Set the Stop Loss first: the price at which the idea is wrong. For a buy it goes below the price; for a sell, above.
   3. 3Set the Take Profit: the price at which you would be content to be out. For a buy it goes above the price; for a sell, below.
   4. 4Place the order, then leave it alone until one of the two is reached, or the day ends.

   Where it is

   The “SL / TP” part of the order ticket, which also shows the two as an R:R Ratio. On an open position the levels are in its row, in the S/L and T/P columns.

   What you should see

   The position’s row carries both levels. When the simulated price reaches one of them the position is closed by the server, not by your browser, and the trade appears in History.

   The terms to know

   • Stop Loss
   • Take Profit
   • Risk-Reward Ratio

   Goes with it

   • Risk / reward
   • Position size

   I have done day 3. Kept in this browser only.

4. DAY 04

   Place a pending order, and cancel one

   An order that waits for a price, and the difference between a limit and a stop.

   What to do

   1. 1Change Order Type to “Buy Limit” and give it a price below the current one (or “Sell Limit”, above). Place it.
   2. 2Place a second pending order of the other kind: “Buy Stop” above the current price (or “Sell Stop”, below).
   3. 3Open the order desk’s “Pending” tab and find both.
   4. 4Cancel one of them. Leave the other to see whether its price is reached.

   Where it is

   Order Type in the order ticket, for the kind of order and its price. The order desk’s “Pending” tab, for orders that are waiting.

   What you should see

   Each order waits under Pending and is not a position. If the simulated price reaches its level, the server fills it and it becomes a position under the “Order” tab. The one you cancelled is gone from Pending.

   The terms to know

   • Pending Order
   • Limit Order
   • Stop Order

   Goes with it

   • Order anatomy

   I have done day 4. Kept in this browser only.

5. DAY 05

   Read your history, and why each trade closed

   A trade is finished when you know what happened to it.

   What to do

   1. 1Open the order desk’s “History” tab.
   2. 2For each closed trade read the size, the opening and closing prices and the result.
   3. 3Look for the reason beside a trade the server closed: “Stop loss”, “Take profit” or “Stop out”. A trade you closed yourself carries none.
   4. 4Write each trade down with the reason you took it. The Journal on this website keeps such a record in your browser.

   Where it is

   The order desk’s “History” tab.

   What you should see

   Every trade of the week, each with its result, and a reason beside the ones the server closed. Set the list against what you remember doing: where the two differ is what the record is for.

   The terms to know

   • Balance
   • Equity
   • Unrealized P&L
   • Slippage

   Goes with it

   • Journal

   I have done day 5. Kept in this browser only.

6. DAY 06

   Margin, margin level and the stop-out

   What a position sets aside, how much room is left, and where the account is closed for you.

   What to do

   1. 1With one position open, read Margin, Free Margin and Margin Level in the account bar.
   2. 2Work the margin level out yourself: Equity ÷ Margin × 100. It should match the bar.
   3. 3Open a second position and read the three figures again.
   4. 4Work out, on paper, what Equity would have to fall to for the Margin Level to reach the stop-out.

   Where it is

   The account bar: Margin, Free Margin and Margin Level.

   What you should see

   Margin rises with each position opened; Free Margin and Margin Level fall. On a demo account the stop-out is set, by default, at a margin level of 20%: at that level the server closes positions, and the trade is marked “Stop out” in History.

   The terms to know

   • Margin
   • Free Margin
   • Margin Level
   • Margin Call
   • Stop Out
   • Leverage

   Goes with it

   • Margin calculator
   • Leverage, visualised

   I have done day 6. Kept in this browser only.

7. DAY 07

   Reset the account, and write three rules for yourself

   Start again clean, with something written down.

   What to do

   1. 1In the client portal, under “Your demo accounts”, press “Reset”, choose the amount and confirm.
   2. 2Read what the reset says before confirming: it closes every open position at simulated prices, cancels pending orders and sets the balance to the amount you choose. It cannot be undone.
   3. 3Write three rules in your own words. For example: how much of the balance one trade may lose; that every order carries a stop-loss before it is placed; when you stop for the day.
   4. 4Keep the rules where you will see them. The Trading plan page on this website can hold them.

   Where it is

   The reset is in the client portal, beside each account under “Your demo accounts”. It is not in the terminal.

   What you should see

   The Balance is the amount you chose, with no open position and no pending order. Nothing from a demo account, before or after a reset, carries over to a live account.

   The terms to know

   • Risk Management
   • Money Management
   • Drawdown

   Goes with it

   • Trading plan
   • Risk management, in one place

   I have done day 7. Kept in this browser only.

SimulationA demo account runs on simulated prices. Educational information, not investment advice or a recommendation to trade. A week on a demo says nothing about a result with real money.