Introduction

Welcome to the Stock Ticker, the Market Data Network for the Emulator.ca Systems BBS.

Picture a trading floor on Wall Street in 1985. Banks of Quotron terminals glow green, each lease running over $1,000 per month. Traders shout orders while watching prices tick by tick. The information flowing through those screens represents power - the power to make decisions while opportunities still exist. Meanwhile, the home investor waits for tomorrow's newspaper, reading prices that are already sixteen hours stale.

The Stock Ticker demolishes that barrier.

Through your modem connection, your home computer becomes a window into the financial markets. Watch prices update every seven seconds during market hours. Pull up ASCII charts showing price trends. Execute buy and sell orders with a few keystrokes. Track your portfolio's performance with professional-grade gain/loss calculations. These are the capabilities that institutional traders take for granted - and now they are available from your den or home office.

We have recreated the authentic experience of a professional trading terminal. Commission structures reflect real-world brokerage fees of the era ($25 per trade - actually reasonable compared to what Merrill Lynch charges). Price movements follow realistic market behavior with randomized volatility. Your portfolio is tracked across sessions, so you can develop and test strategies over time.

This is a simulated trading environment - no real money changes hands, and you cannot lose your actual savings. But the lessons you learn here are genuine. Understanding how markets move, how commission costs affect profitability, how diversification reduces risk - this knowledge will serve you well when you are ready to trade with real brokers.

System Features:

• Live price quotes with 7-second update intervals
• ASCII price history charts for trend analysis
• Portfolio tracking with profit/loss calculations
• Full buy/sell order execution
• Authentic $25.00 per-trade commission structure
• 22 securities across multiple market sectors

Quick Start

To begin trading immediately:

Step 1: Dial the service

ATDT555-0755

Step 2: Press ENTER when the splash screen appears.

Step 3: Try these actions:

• Press Q and enter IBM to get a quote
• Press C from the quote screen to view the price chart
• Press B to buy shares (you start with $10,000.00)
• Press P from the main menu to view your portfolio

Step 4: Experiment with different stocks and watch how prices change during market hours.

You are now ready to explore the markets!

Getting Connected

To access the Stock Ticker Service:

1. Ensure your modem is powered on and connected
2. Launch your terminal software
3. Dial 555-0755
4. Wait for the CONNECT message
5. Press ENTER when the splash screen appears

Market Hours

The market operates on Eastern Time (ET). Regular trading hours are:

Market Overview

Press M from the main menu to view the Market Overview screen. This displays the current state of major market indices and the most actively traded securities.

Major Indices

The system tracks three primary market indices:

Most Active Stocks

The Market Overview displays the five most actively traded stocks by volume. High volume often indicates significant investor interest or news events affecting the security.

Stock Quotes

Press Q from the main menu to request a stock quote. Enter the ticker symbol when prompted.

Available Securities

The following stocks are available for quotation and trading:

Quote Display

A stock quote displays the following information:

Understanding Quote Data

How to Read a Quote

Last Price tells you what someone just paid for this stock. If you buy, expect to pay approximately this amount.

Change shows momentum. Positive change suggests buying pressure; negative suggests selling pressure. But remember - yesterday's movement does not predict tomorrow's.

Volume indicates interest. High volume on an up day suggests conviction; high volume on a down day might indicate panic selling. Low volume moves are less significant.

52-Week Range provides context. Is the stock near its yearly high (potentially expensive) or near its low (potentially a bargain - or troubled)?

Price Charts

Press C from the quote screen to view an ASCII price history chart showing the last 20 price updates. The chart displays:

• Y-axis: Price range (high to low)
• X-axis: Time progression (oldest to newest)
• ● Current price marker
• • Historical price points

Portfolio Management

Press P from the main menu to view your current portfolio holdings and cash balance.

Portfolio Display

The portfolio screen shows:

• Cash Balance: Available funds for trading
• Holdings Table: All owned securities with current values
• Performance Metrics: Gain/loss calculations

Portfolio Terms

Why Cost Basis Matters

When you buy stock at different prices over time, your cost basis is averaged. If you bought 50 shares at $25 and later 50 more at $30, your cost basis is $27.50 per share - not $25 or $30. The system tracks this automatically, which matters enormously when calculating whether you are actually making money.

A stock might be "up" from yesterday but still below your cost basis - meaning you would lose money if you sold. Always check your gain/loss column, not just the stock's daily change.

Trading Securities

Now for the exciting part - actually buying and selling securities. Execute orders directly from the quote screen with just a few keystrokes. All trades are subject to a $25.00 commission fee per transaction, which is actually favorable compared to full-service brokers who might charge $50 or more.

Placing a Buy Order

1. Get a quote for the desired stock (Q)
2. Press B to initiate a buy order
3. Enter the number of shares to purchase
4. Review and confirm the order

Placing a Sell Order

1. Get a quote for the stock you own (Q)
2. Press S to initiate a sell order
3. Enter the number of shares to sell
4. Review the transaction including gain/loss

Trading Costs

Order Errors

Orders may be rejected for the following reasons:

• INSUFFICIENT FUNDS: Not enough cash for purchase + commission
• INSUFFICIENT SHARES: Attempting to sell more shares than owned
• Invalid quantity: Non-numeric or negative share count entered

Top Movers

Press T from the main menu to view the day's top gaining and losing stocks.

Display Format

The Top Movers screen displays two lists of five stocks each:

• ▲ TOP GAINERS - Stocks with the highest percentage gains
• ▼ TOP LOSERS - Stocks with the largest percentage losses

Data Display Conventions

The Market Data Network uses consistent visual indicators throughout the system for rapid data interpretation.

Color Coding

Symbols and Indicators

Numeric Formatting

• Prices: Displayed to 2 decimal places (e.g., $125.50)
• Percentages: Displayed to 2 decimal places (e.g., +2.35%)
• Volume: Displayed in millions (e.g., 2.10M)
• Large Values: Dollar amounts include commas for readability

Command Reference

Main Menu Commands

Quote Screen Commands

Navigation

Technical Specifications

Tips for Successful Trading

Appendix A: Quick Reference Card

╔═══════════════════════════════════════════════════════════════════╗
║                 STOCK TICKER QUICK REFERENCE                         ║
╠═══════════════════════════════════════════════════════════════════╣
║  MAIN MENU                     QUOTE SCREEN                       ║
║  ─────────                     ────────────                       ║
║  Q  Get stock quote            B  Buy shares                      ║
║  P  View portfolio             S  Sell shares                     ║
║  M  Market overview            C  View price chart                ║
║  T  Top movers                 M  Return to menu                  ║
║  X  Exit service                                                  ║
║                                                                   ║
║  MARKET INDICES                TRADING COSTS                      ║
║  ──────────────                ─────────────                      ║
║  DJIA  Dow Jones Industrial    Commission: $25.00 per trade       ║
║  COMP  NASDAQ Composite        (applies to both buys and sells)   ║
║  SPX   S&P 500 Index                                              ║
║                                MARKET HOURS                       ║
║  DISPLAY SYMBOLS               ────────────                       ║
║  ───────────────               Open:   9:30 AM - 4:00 PM ET       ║
║  ▲  Price up (green)           Closed: 4:00 PM - 9:30 AM ET       ║
║  ▼  Price down (red)                                              ║
║  ●  Current price              STARTING CAPITAL                   ║
║  •  Historical price           ────────────────                   ║
║  ✓  Order executed             $10,000.00 simulated funds         ║
╚═══════════════════════════════════════════════════════════════════╝

Appendix B: Troubleshooting

Common Problems and Solutions

Problem: INSUFFICIENT FUNDS error when buying

Cause: The total cost (shares × price + $25 commission) exceeds your cash balance.

Solution: Either buy fewer shares or sell existing holdings to free up cash. Remember to account for the $25 commission in your calculations.

Problem: INSUFFICIENT SHARES error when selling

Cause: Attempted to sell more shares than you own.

Solution: Press P to check your portfolio and verify the number of shares held. You can only sell shares you actually own.

Problem: Prices are not updating

Cause: The market may be closed, or you are viewing a static screen.

Solution: Check the market status indicator at the top of the screen. Prices only update during market hours (9:30 AM - 4:00 PM ET). Press M to return to the main menu and refresh.

Problem: Unknown symbol error

Cause: The ticker symbol entered is not in the system database.

Solution: The Stock Ticker supports 22 securities. See the Available Securities table in the Stock Quotes section for valid symbols.

Problem: Connection lost during a trade

Cause: Modem carrier loss or line noise.

Solution: If a trade was in progress, reconnect and check your portfolio (P) to verify whether the order executed. Orders that complete before disconnection are saved.

Appendix C: Glossary

Ask Price — The lowest price at which a seller is willing to sell a security.

Bid Price — The highest price at which a buyer is willing to buy a security.

Commission — A fee charged by a broker for executing a trade. The Stock Ticker charges $25.00 per transaction.

Cost Basis — The original purchase price of a security, used to calculate gain or loss when selling.

Diversification — Spreading investments across multiple securities to reduce risk.

DJIA (Dow Jones Industrial Average) — An index of 30 large American companies, often used as a barometer of overall market health.

Gain/Loss — The difference between the current market value and the original cost basis of a holding.

Market Order — An order to buy or sell immediately at the current market price.

NASDAQ Composite — An index of stocks traded on the NASDAQ exchange, weighted toward technology companies.

Portfolio — The collection of securities owned by an investor.

S&P 500 — An index of 500 large American companies, considered representative of the broader market.

Ticker Symbol — An abbreviation used to uniquely identify a publicly traded security (e.g., IBM, AAPL).

Volume — The number of shares traded during a given period.

52-Week High/Low — The highest and lowest prices at which a security has traded over the past year.

Building Your Investment Knowledge

The Stock Ticker is more than a game - it is a learning laboratory for understanding how financial markets work. Here are some concepts worth exploring:

Market Mechanics

Price Discovery: Watch how prices change throughout the trading day. Prices represent the consensus of all buyers and sellers about a stock's value. News, earnings, and broader market sentiment all influence this ongoing negotiation.

Bid-Ask Spread: In real markets, there is always a small gap between what buyers will pay and what sellers will accept. The Stock Ticker simplifies this, but understanding spreads explains why frequent trading erodes profits.

Volatility: Some stocks move 2-3% in a single day; others barely budge. Higher volatility means more opportunity - and more risk. The Top Movers screen helps identify volatile securities.

Building Good Habits

• Keep records: Note why you made each trade. Review what worked and what did not.
• Set goals: "I want to grow my portfolio 20%" is clearer than "I want to make money."
• Learn from losses: Every losing trade teaches something. Was your analysis wrong, or just your timing?

Limitations of Simulation

Remember what this simulation cannot teach: the emotional discipline required when real money is at stake. Paper trading profits are easy; real profits require controlling fear and greed. The Stock Ticker can teach you mechanics and strategy, but emotional control must be learned with real stakes.

Related Services

• System Information (555-0600) - Monitor BBS system performance
• Shell (555-0760) - Organise your trading notes and research

The markets await. Start with small positions, diversify across sectors, and remember that patient investors generally outperform active traders. Good luck!

Stock Ticker Reference Manual - Emulator.ca Systems

Document Revision 3.1