Getting Started Tutorial - Wall $treet Raider v7.81

RakeM discusses everything you need to know to get started playing Wall $treet Raider v7.81.

Concepts covered in this episode:
W$R Development History
Acquiring a Stock Market Vocabulary via the Glossary
Game menus
Features of the Trading Desk

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Wall Street Raider developer website: http://www.roninsoft.com/wsraider.html
Wall Street Raider official fan forum: http://wsrunited.freeforums.org/
Wall Street Raider Facebook Community: https://www.facebook.com/wallstreetra...
Wall Street Raider Facebook Group: https://www.facebook.com/groups/WSrai...

Wall Street Raider, Copyright 1984-2016 by Roninsoft and Michael D. Jenkins. Used by permission.

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Closed Caption:

hello everyone and welcome to the
tutorial for getting started with Wall
Street trader I'm breaking your host and
if you've never played this game before
and you want to know what it's about
this is the this is the video for you
basically what we're gonna do is we're
gonna talk about what the game is about
where came from little bit about the
background of it and might as well so
you kind of know where I'm coming from
but basically this this is the premier
stock market simulation game it's the
most complete most accurate most
realistic stock market simulation that's
ever been published and it's been around
for I don't know going on 35 years now
the reason why it's so good is because
it was developed by a man with a
professional career in economics
accounting and and the law basically was
written by Michael Jenkins who's the man
behind Ronan soft he is a graduate of
Louisiana State University and Harvard
Law School he practiced economics and
was a financial consultant in washington
D C and Los Angeles he then moved to the
Bay Area and worked as a C CPA and a tax
partner both for himself and for others
and he basically got into into writing
into into business consultancy by
writing a series of books on starting
and operating a small business
the books did so well in california that
he did a Texas and New Mexico condition
and sales continue to do well so we
worked with a work in partnership with
Ernst and Young to develop a virgin for
every state in the United States and he
has sold over a million copies he
started Wall Street trader and I hope
I'm not speaking out of school year but
I believe he started developing Wall
Street trader as a way to teach people
how the stock market works became so
popular that he released to the public
and it has been on the market since I
think 1991 so going on thirty five years
if not already there and in 2010 he
retired from the California Bar and few
years before that he retired from his
practice and he's mainly just been
keeping the books update developing Wall
Street trader and he's got another game
that he's that he's developing I don't
know what it's called but it's primarily
for passive investment teaching passive
investment uses the same engine as Wall
Street trader but you can't take over
contemporaries you just you start with a
much less much less capital starting out
I haven't seen a copy of the game I've
offered to be a beta tester but like I
said I haven't seen a copy of it yet so
but I do know that he's working on it so
anyway
Wall Street trader had never played the
game before basically the way it works
is you start out with anywhere from a
hundred million to a billion dollars and
the goal of the game is to just turn
that into as much money as you can now
the simulation is very accurate in terms
of how the stock market works it has
pretty much all of the facets of the
stock market in varying degrees first of
all others only 1500 stocks instead of
thousands and thousands but there's
enough 1500 that's that's plenty I mean
you're not gonna do not gonna run out of
stocks to invest in the other thing is
as is the stock index interest rates and
GDP growth play a major major role in
the game
commodities futures options all kinds of
financial transactions including
derivatives trading like
in this game it's just interest-rate
swaps in the real world you could also
do commodity swaps but that's a part of
this game you can only do stock futures
or physical commodities also mean this
is a very complex simulation and the
reason why its number one first of all
because it was developed by a guy who
knows all about this stuff he's an
expert in economics and accounting in
the end tax law so it's a pretty pretty
accurate in terms of all that for
instance things like consolidated tax
reporting something that you're
pedestrian game players not gonna do
anything about second of all the reason
why its popular is because it teaches
you how the real stock market works
another reason is because he has
constantly updated it I did a let's play
last year on version seven point six and
exploited a lot of loopholes well sorry
to say that he closed all the most
lucrative loopholes now there's a few
things that I thought he would close but
he didn't we're gonna do in New let's
play starting on Friday February 12 and
a lot of them you have to have a lot of
money already built up some might take
awhile to show them to you but some of
the loopholes are still there but some
of the you know all the best ones are
closed but the other reason why this
thing is popular is because it's
challenging I mean there's a there's a
big learning curve if we don't know
anything about the stock market if you
have never played a stock market
simulation game before there are some
things that you're gonna have to learn
the first the first lady of the land is
the vocabulary but we'll get into that
here in just a little bit this game does
not appeal to everybody
kids these days they want high graphics
high action and that's not what this is
this game is low tech graphics it's
mostly text you looking at financial
reports it's not you know it's not
always intuitive unless you know
you know the game are you playing the
game or you know the stock market you're
familiar with what these different
investment vehicles mean and how they
work but that's part of my my opinion
part of the good thing about the game is
that it teaches you that the other thing
is that this is more of a head game
almost everything that happens you're
notified in a report or in a popup or
whatever and you have to read and
understand what you're reading and so
you have to constantly be on top of
what's going on in order to do well this
game is a bit time consuming if you play
a thirty five-year game it takes me
anywhere from fifty to a hundred hours
to complete
just depending on the number of
transactions that you're doing how fast
you have the ticker set the speed of the
stock ticker set to so you know that a
lot of people a lot I should say not
everyone finds this game exciting or fun
or interesting to them you know this is
not a blowup blue and a kind of a game
but the challenge is there in 10 people
you know
find this game a little too challenging
but I'm gonna I'm here I'm gonna try to
help you get over the hump the learning
curve and when you watch me play
hopefully you'll you'll understand
what's going on and how to take
advantage of the opportunities that the
simulation provides a little bit about
me before we get started I come at this
from a developer background my first job
at a high school though I worked for a
financial planner as data entry clerk
and so I kind of got familiar with how
the stock market works working for the
financial planner and just being around
the office but after high school and
college I became a software developer I
worked up to
software project manager and business
analyst and then transitioned over to
just business analysis and technical
writing which is what I've been doing
for the last ten fifteen years in the
last five years or so I've also had an
interest in poker and have written a
regular column or used to write a
regular column on poker if you google
Tulsa poker you'll find it over or right
around a hundred articles published but
I come at this game more or less as a
developer and one of the things that as
a developer you you need to be able to
do as a poker player as well as to be
able to recognize patterns and trends in
so most of my success in the game comes
from those two skills not so much that I
am expert in how the real stock market
works because I'm not end well I know a
lot more about it now just from playing
this game
most of my success comes in recognizing
what it's doing from a software
standpoint than it is from the real
stock market works but there are
financial professionals that use this as
a training tool for their employees
I'm gonna show you some few a few
examples from the from the comments page
Ronan's
Office website just so you can I get an
idea of just how useful this is a
training tool but anyway let's let's go
through some of the some of the aspects
of the game itself
alright so I have spent like four months
trying to figure out a way to present
Wall Street trader in a format that can
be
shrunk down to like 20 minute increments
and it just can't be done just can't be
done there's just too much information
to talk about and show especially if you
don't know the market and trying to get
it down to 20 minutes is just it's just
not possible so we're gonna be doing
long-form tutorials anywhere from forty
minutes to an hour depending on the
subject I think there should be a little
bit sporadic because I'm trying to get
the new version 7.1 which came out just
a week or two ago trying to get some
footage built up on that version and
what I'm gonna do it also gonna start
let's play like I said starting Friday
that'll be released every week when I
get some a backlog of episodes that will
probably go to Tuesday and Friday
releases because I don't want to have
this let's play span you know past the
end of the year so once we get enough I
get like three or four in the backlog to
where I can deal with you know life
events without interrupting the schedule
that I will go to a Tuesday and Friday
release schedule alright so basically
what you need to know is you need to
know the vocabulary first of all and
then you also need to know how to
conduct transactions the two major
things that you need to learn right away
so when you first get the game
shareware or the full version became the
first thing you do is you need to go to
ruin soft dot com and you need to go to
the tutorial page and read through
everything that it tells you there that
will give you a basic understanding of
how the game is laid out how it's played
in hopefully it will help you get over
your intimidation factor of looking at
the trading desk and not knowing where
anything is second thing you need to do
is either if you have the manual or if
you don't go to the help file and go to
the glossary to the way you get there
you go to help it brings up a menu click
on the help file brings up this window
go and right here in the bottom of the
middle to the glossary right now I'm not
suggesting that you read this
top-to-bottom there's a lot of
information here but you need to know
how to get to this so that when you're
reading other things and it mentions one
of these terms you know to come here to
look it up and eventually you will go
through most of these these terms and
you'll need to know what they mean and
elsewhere if you are if you purchase the
manual which I highly recommend that you
do you'll also get tips inside the
different sections that the help files
don't have so if you have about the mail
by the manual for that right so I'm
going to go through everything that's on
the trading desk itself I'm not going to
get into the reports that you can look
at we're gonna do that in another
episode but basically I'm gonna have you
I'm gonna take you through everything
that's on the trading desk I recorded it
earlier and there's a couple of things
that are wrong so I'm gonna show to
anyway and then I'll correct myself when
I come back about 20 minutes and if you
want to if you're ready for familiar
with the trading desk then just come
back afterwards and I'll give you those
clarifications today we're going to talk
about the various sections of the
trading desk and in future future
episodes will talk about the various
reports how to do research and then
separate one for transactions and then
we'll tie it all together in making them
all work as one
alright so today we're just gonna go
through what each of these sections for
and generally what they do so starting
with the File menu this is when you if
you have a current game open you can
save the game using the same game number
is what you are currently using if you
want to save it under a new number you
can you save game
as and if you want to abandon your game
you can either leave the game entirely
where you can restart the game in the
open up a previous a point or start a
new game under game options you can look
at the high scores you can customize the
stock symbols using the customized
customized utility that we customize the
stock symbols and the names of the
companies you can search for updates if
you're using an older version you can
click here to look at the web for the
most recent version you can click here
to go directly to the WSR forum on the
web you can click here to go to the
tutorial page on the road in soft
website click here to open up the wall
street trader user manual click here to
look at the printable user manual which
I think opens up a word copy this when
it opens up an HTML copy right so
settings
speed is currently set to 66 speed
ranges from 1 to 100 100 being the
fastest in one being the slowest you're
correct correct rate so you can change
it from us' dollars to other currencies
throughout the world
gmail you can be on or off we'll talk
about that in a separate episode you can
select your law firm which right now
have the average law firm selected and
I'm actually gonna go with the expensive
law firm as they have better results
they're also more expensive as you can
see here and it gives you what the
typical fee would be for a one billion
dollar damage suit which wouldn't stay
in that case will be eighty-five million
other settings you can see this is
basically game flow if you want a lot of
stocks you can suppress the pop ups and
the earnings reports so that you have
fewer interruptions while you're trying
to manage everything you can turn on the
autosave so periodically the game will
automatically save itself when you have
stock options and the date of the option
comes up you have the option here to set
whether or not you want to exercise the
option or settle the option to a great
now I have it set to yes it will
exercise the options makes it all the
way to its expiration date make delivery
on physical delivery that's all teachers
so if you buy stock futures for let's
say corn and they come to the final date
of
at the expiration date of that future
then you can take physical delivery and
convert that future into a physical
commodity which you would then hold
until it was I guess this is when you
sell it short and then this one is when
you buy it and you can control those
separately right so sweep cash to reduce
loan yes or no so if you have futures
that are generating money and you have a
bank loan you can set this to yes or no
to have that cash automatically pay down
your loan I have this game currently set
to level four difficulty so that's
automatically set to know if I was
playing level 1 it would be
automatically set to Yes and the reason
why the difference if you try to pay off
your loan early on level four and I
think even level 3 there is a penalty of
2 percent penalty I believe when you try
to pay your loan back early your stock
chart size you have large and small are
two options I currently have it set to
large which looks like this Woods said
it too small
which some people prefer it would look
like that going now this looks better
aesthetically but you know I'm older and
my eyesight isn't as good so I like to
look at the large one cause I can easily
read a little bit easier
ok next up to stream list is so what I
selected a stock that isn't on this
streaming stock quotes list
like for instance let's let's select a
stock at labs now that I selected him
he's been added to the list
ok now I want to select one of these
companies offer this list I can just
click Select highlight the company I
want any ok and now they're disliked
identity checks on now he's the selected
entity be back to edit labs now he's the
selected entity that if you turn that
off and I did you look at the company
will operate the same just will put them
on this list and finally autopilot you
can turn this on our offer and basically
if you have too many companies to manage
you can turn the auto pilot pilot on to
help you
able to a future episode on how the
autopilot works only use the Help menu
you know that you peruse that at your
convenience
registration info if you want to look at
if you're upgrading and you need to look
at your registration information that's
where you get it and then the about is
just the copyright information rights
that's all the menus let's talk about
these different sections of the trading
test the first one is the active
entities selected section this basically
gives you information on the activity
right now we have added lab selected
this is his sex symbol if I want to
change who are looking at I can type in
who I want so that's a that's a Pfizer
and there is nowhere to go back to edit
labs I can do it here in it go where I
can just pick them off the list
ok basically a shortcut is basically the
same thing is hitting select Corp and
then typing into the code here
great if you know what the symbol is if
you don't then use the Select Corp you
do look up and picked them from a list
is alphabetical so letter corporate and
other selected and they can add to the
list right next up is their stock price
again there are controlled by the
current credit line right now that's all
the information in that section about
the corrective entity excellent to know
especially when you're looking at
yourself what kind of credit you have
available or if you're looking at a
stock that you own making sure that you
still control them especially if you
don't have a major you more than 51
percent of the stock right next up is
the industry group right now I've got
five are selected in the pharmaceuticals
so that's what is showing me what if I
go back to me it doesn't change this
because I'm not in an industry so
basically this is the industry for the
for the current were the most recently
selected ittt next up is my ballot she
and this is always your analogy players
networks
as you have on hand all of your stocks
bonds options futures everything that
you own a value is all added up in total
here at your assets to your cash in this
is your total assets what debt you have
to subtract it for your net worth to
this number minus that number is this
number and this is the number that gets
track for the high score so you're just
trying to run this number up as high as
you can that's the object of the game
that we have commodity prices index
indicators so right now the primary is
seven and three quarters percent long
bond yield is seven point 26 percent in
the short but he'll 26.7% the long bond
is the twenty-year government tville in
the short run is the ten-year government
email stock index is a conglomerate
added index of all the stocks in the
game so take the value of all the stocks
divide them by a divisor and that
becomes this index now is the index rose
like let's say it was all the way up
tonight he said theyd 90,000 the stock
index will split and adviser will
increase by another 50 this number
doesn't get too big otherwise index
futures would become too expensive to
trade and then blow that we have the
commodity prices there's five different
commodities in the game crude gold
silver corn crude is this is the price
per barrel gold and silver that's the
price per troy ounce wheat and corn
that's the price per pet per bushel and
then finally we have the GDP growth rate
this is a projection for what the growth
rate will be over the next year and
that's for the market as a whole not
necessarily individual industries right
so that's all the basic information that
is always displayed the situation is
always on you if you want to look at
specific information about companies you
have to do research that research is
done in these using these three men use
that first of all the Chinese menu gives
you a running ticker at all of the news
related to companies that you control so
here it shows that I
sold some call options for a gain on
Pfizer that I sold short options put
options on pleasure I borrowed a billion
dollars from my bank then I shorted corn
futures in that short weeks users and
here's why sold call options are
absolutely they sold call options I
bought call call options on sizer now
here I sold put options on Pfizer and
then I increased Pfizer's research and
development spending up to 11 percent of
sales so all the news related to your
companies that you control will be
displayed here
additional research you can bring up
financial reports actually I need to go
up to 50 years the researcher for its
financial report and then you can look
at the industry summary of rejection you
discredit into a text basis report to
all the stuff we're gonna go into more
detail in the next part of this episode
the general menu this is this entity
menu by the way is all related to
information and research on this entity
the general media gives you reports for
the market as a whole so if you want to
see what companies have a large market
share by the market share with us if
you're if you want to sue someone for
antitrust or see if that opportunity
exists would come here and see who has a
greater than 50% market share
entered the industry that they're in
which in this case coca-cola's and
beverage and then Sukkot coca-cola and
try to make a quick buck other reports
on here industrial growth rates will
talk about this in a future episode take
industrial production and also use a
projection for the currently selected
industry group same thing on the summary
economic statistics all these various
reports will go into more detail in
another episode that's where you do all
your research your transactions are all
done through these menus so buy stock
and sell stock or just quick shortcuts
to do those two things but to do any
other buying and selling your go to this
menu
you can still buy stock sell stock just
like these you can conduct mergers green
males leveraged buyouts buy or sell
assets by yourself call options and put
options trade futures which is futures
and commodities and then trade physical
commodities using this one
financing manual has to do with the the
financial transactions so if you want to
contribute capital to accompany issue a
public or private stock offering issue
bonds buy back bonds issued
extraordinary dividend taxable or
tax-free liquidations or spin off a
subsidiary all that's done here again
we'll explore these in more detail in a
future episode then you have management
transactions where you can let yourself
as the CEO or resign you can change the
management of your management is dismal
you would use that set the dividend the
productivity spending or R&D spending in
the gross percentage using these three
you can restructure by writing off some
of your assets you can use this one too
soon electricity if we entered the
beverage industry we would use this
button to sue coca-cola for antitrust
and here I can toggle the autopilot line
on a company by company basis using this
button so this one up here is global so
I could turn this on and then turned
auto pilot lost for just this company
that's the management menu other
transactions that compile harassing
lawsuits spread rumors exercise caller
put options I can change my lender could
increase or decrease earnings in that
would basically add money or take money
out of the reserve which is shown others
are going to remember for Pfizer Pfizer
has 19 million in his reserve and that
would increase to decrease the earnings
you would add money to that reserve
increase earnings you would take money
out of that reserve gauging interest
rate swaps using this button and you can
go to the for sale items and see if
there's assets for sale that you may be
interested in
from this menu item
ok another quick search basically all of
these features are available on these
menus but they're used heavily in the
normal course of a game so they provided
shortcut shortcut search functions right
here so for us to look at a research
report rather than go to the entity menu
and then go to research report I can
just click it right here rather than
have to bring up the menu same thing
with the financial profile and the
earnings report and this is the most
recent quarters earnings report I can
click here to get a list of the
portfolio holdings your look at options
which doesn't have any but I do so
here's all my call options and then he
was all my put options you list
shareholders so I oh ninety-four percent
of Pfizer and healthcare equities fund
owns three percent the public owns three
percent as well I have the controlling
interest so it's controlled by me and
you can look at futures contracts here
let me bring up me again you're my
seizures according to eat a thousand
contracts each this is the contract
price and what I have lost or laid off
on those teachers like corporations this
is a list of all the companies that I
control the illustrating their credit
rating with their projected earnings are
for next quarter what their actual
earnings were for last quarter and what
their earnings worse or the same quarter
last year
these numbers are going up left to right
you're doing well they're going down
left or right you got some work to do so
they're going up your earnings are
increasing after going down your inner
earnings are or are not increasing and
you need some need to work on it and
this recall database search list if I do
a database search it will cover this in
more detail later but I just wanna show
you the short so let's a look at all the
stocks whose price to networth stock
price is less than net worth by 95
percent so far seven companies that are
returned by these search parameters
display here they are so let's say I
want to look at one
ok now that closes the database window
right so it's a look at america online
and I and i decided i dont want invest
in the end I wanna look at another one
already then have to go back to the
database into another search I can just
hit this brings up the last search
results they had ok so let's look at
rolls-royce instead he selected so
useful shortcuts to bring up man using
just click it read on the trading desk
right the final thing to look at is over
here and other source the buttons go the
chart brings up the stock price chart
the stock price is going way way in just
34 months now trading at 36 34 I can in
my turn I only have one transaction left
on my turn in turn computer takes his
turn now it's my turn again
miscellaneous menu is to borrow money
and repay money from your bank to
advance money to corporations that you
control or recall that advanced you can
prepay your income taxes so if you owe
tax and you are about to engage the
budget transactions and you don't want
to end up without the money you need to
pay your taxes the end of the quarter
you can prepay your income taxes so that
you don't accidentally spend over extend
yourself and then end up with a major
bank loan at the end of the quarter
thing you can do is you can offer to
sell stock this is only available on
companies that you control when it's you
it's it is something I thought that was
going to be exclusive to corporations so
anyway let's say I want to offer to sell
some of my stock advisor with 64 percent
they do you wish to have the offer
extended until the end of the next
calendar quarter
yes and these are the terms yes again it
goes on these for sale items list right
here so here's the stock 4% that I'm
offering until October 2016 oK so that's
that's what that is
if I click on it asked me if I want to
cancel his casino alright so that's all
the menus now let's talk about what's
right here in the middle so the current
date calendar on the date on the
calendar is May 22nd 2016 in this is a
thirty five-year game so it tells you
remind you that the game ends in 2051
it'll end on January 1st of 26 2051 the
next earnings date shown here
pertains to the active entity so slight
change this to pfizer is next earnings
declaration date is August a short dress
rolls-royce is June 26th every company
declares earnings last quarter and their
next earnings date is shown here during
this shows whose turn it is and how many
transactions I have remaining before my
term is over so if you're playing a
multiplayer game whether it's against
the computer or another player it shows
you what your remaining trade
transactions are and then this is all
the news that's happening throughout the
market along with the ticker what the
current up and down the gains and losses
per share for each company and to be
honest with you I don't know that this
figure is comprehensive I don't know
exactly what goes into determining which
stocks get shown in this window but you
know you see it on the money exchange in
every movie about the exchange so it
would be strange not to have it occur so
there it is you can turn it off and vary
the speed at which time passes in the
game by using this setting so right now
I have it set to 66 I'm gonna change it
to one show you how slow it goes in the
day on the calendars slows down as well
so there goes 26th
now the 27th change this to a hundred
CFS is going to barely keep up barely
read it right so deposit taker you just
click this button to restart it you
click it again and then of course you
have your seeming struck stock quotes
list so here is something in this window
goes by and you miss it you can bring it
back up by going to general and then jus
news and this has basically the same
information as what's in this window is
just a lot more of it is that window on
the trading desk is kinda small usually
what it lines or something
whereas here there's plenty of lines so
something goes by eating a chance to
read it
get to it from the general manager needs
right but will explore that stuffs a lot
more detail in a future episode that's
it for this time you have any questions
that you would like to ask and get an
answer just leave a comment below thanks
for joining me and come back next time
for more in-depth study of the various
menus ok so I recorded that like four
months ago I think and one of the things
that I got wrong I think it's the only
thing I got wrong but the thing that I
got wrong was with regard to the sweet
function to go to settings and you have
the sweet cash to reduce loan yes or no
that only applies to the player and
furthermore it doesn't make any
difference in terms of the players
repayment of bank loans what level of
difficulty you have your game set to so
if you have it set a level 4 or level 2
it doesn't really matter the default
setting is to have that sweep function
on and when you make money if you have a
loan it will and you have it on it will
automatically repay your loan the 2%
prepayment penalty in level three and
four that only applies to corporate loan
prepayment it never applies to players
the prepayment penalties are not a
downside of turning the sweep function
on ok the other thing that I didn't
really get wrong I just admitted it was
when you have your streaming stock
quotes list if you don't have this
function for automatically adding them
to that list when you select companies
you can add them manually by when you
have a company selected over here you
just click the Edit Delete alright and
if they're already on the list it will
delete them if they're not on the list
it will add them unless the list is FULL
if the list is FULL then you have to
remove somebody before you can add a new
one if you want to remove everybody off
the list yet clear if you get that list
is empty and you hit kill or even if
it's not impede just empty slots fill a
little silly from the from the various
stocks that you control so those are
some shortcuts that I didn't mention
here on this streaming stock quotes list
anyway that's basically all the
information that you need to know to get
started playing Wall Street trader we're
gonna go into more detail on the reports
doing research and then later on doing
transactions in future tutorials in the
meantime if you want to get started
right away you can go to the let's play
for version 7.6 which was published last
year and moved over to this channel last
month if you want to join me for the
let's play on version 7.8 one that's
gonna start coming out on Friday
February 12 alright so thanks for
joining me hope you hope you are
intrigued by the game and if you are
joined me for future episodes and until
then this is Rick I'm saying have a good
one