Using the market¶

How to open Prayog's live market, watch it move and trade in it yourself. For bots, see docs/bots/.

1. Start everything (once per boot)¶

Docker Desktop must be running. From the repository root:

make env    # first time only: creates .env with your local passwords and secrets
make up     # builds what changed and starts everything; returns when all services are healthy
make smoke  # optional: 28 quick checks that everything works

The first make up takes a few minutes (images download and build). Later starts take 20 to 40 seconds.

What starts: the exchange, a market maker, noise and momentum traders, the web app, plus PostgreSQL, Kafka, Redis, Keycloak and Traefik underneath.

2. Watch the market¶

Open http://app.prayog.localhost in Chrome or Firefox. No login is needed to watch.

Part of the page	What it shows
Top bar	Session (OPEN, HALTED or CLOSED), the simulated clock in IST, and a green dot while the live feed is connected
Ticker row	Each symbol's last price and change against its reference price. Click one to select it
Price chart	Candles of the selected symbol; switch between 10-second, 1-minute and 5-minute candles
Order book	The best 10 price levels each side: sell orders (red) above, buy orders (green) below, the spread between
Trades	Every trade as it happens: time, price, quantity; green when the buyer took liquidity, red when the seller did

The simulated traders keep the market busy: the market maker always quotes both sides around a hidden "fair value" that drifts and occasionally jumps, and other traders buy and sell against it.

Arrange your workspace¶

Every box on the page is a panel you can move and size:

Move: drag a panel by its title. Other panels make room.
Resize: drag its bottom-right corner.
Swap two panels: the ⇄ menu at a panel's top right; they trade places and sizes.
Add or remove: + Add panel in the toolbar (watchlist, depth chart, positions & P&L, my fills, strategies, ...) and × on a panel.
Presets: Trader, Scalper (tall order book for one-click trading), Watcher (no trading) and Quant (strategies). Your own arrangement is kept as Custom (saved), per user, in this browser.
Lock stops accidental drags. Explain puts a short note on every panel saying what it shows and how it works, with a link to the matching docs page.
Shortcuts (press ?): B / S buy or sell (jumps to quantity), [ ] previous or next symbol, X cancel all your orders, E explain mode, L lock.

On a phone the panels stack in one column.

Click Sign in to trade. You land on Keycloak's login page. Use one of the seeded users:

User	Can	Password
`trader1`	Trade	`grep PRAYOG_TRADER1_PASSWORD .env`
`ops1`	Market operations (no trading)	`grep PRAYOG_OPS1_PASSWORD .env`

After signing in you return to the market with the order ticket enabled. Your session lasts while the tab is open; tokens renew themselves every few minutes.

4. Trade¶

Pick a symbol in the ticker row.
In Place an order choose Buy or Sell, then Limit or Market.
Enter a quantity. For a limit order enter a price in rupees, or click a price in the order book to copy it.
Press Buy INFY (or Sell ...). The answer appears under the button:

Answer	Meaning
`resting, 15 open`	Your limit order is on the book, waiting. It shows in the order book and in My orders
`filled 10 @ 1,509.10`	It traded at once (a market order, or a limit order that crossed the spread)
`resting, filled 4 @ ..., 6 open`	Part traded, the rest waits on the book
`cancelled (NO_LIQUIDITY), filled 3 @ ...`	A market order took what was available; the rest is cancelled (market orders never wait)
`rejected (PRICE_OUTSIDE_BAND)`	Refused: price outside today's ±10% band. Other reasons: `PRICE_NOT_ON_TICK` (prices move in ₹0.05 steps), `SESSION_NOT_OPEN`, `INVALID_QUANTITY`

My orders lists your open orders with a Cancel button (and Cancel all). My fills shows each of your trades the moment it happens, including resting orders that fill later; a notification pops up at the bottom right too. Click an order id or a fill to see the order's journey through the exchange.

Positions & P&L adds up your fills per symbol (average-cost method): shares held, average price, realized P&L from shares you closed and unrealized P&L at the last price. It counts this browser session's fills; the official numbers come with the post-trade service (Step 2).

One-click trading¶

Tick 1-click in the order book. A click on an ask (red) then buys that quantity at that price, a click on a bid (green) sells. Keep confirm ticked until you are used to it.

5. Rules worth knowing¶

Prices move in ticks of ₹0.05, within ±10% of each symbol's reference price.
Orders are filled by price, then time: better prices first; at the same price, earlier orders first.
Your own buy and sell orders never trade with each other (self-trade prevention cancels the incoming one).
Every order is a day order: anything still open at the 15:30 close expires. With the default settings the clock then jumps to the next day's 09:15 open about 30 seconds later.
The simulated clock runs at real speed by default (SIM_CLOCK_MULTIPLIER=1 in .env).

6. Trade from a terminal instead¶

The same exchange, from the repository root (it trades as the demo bot account):

uv run prayog tickers
uv run prayog book INFY
uv run prayog buy INFY 10 --price 1495.50
uv run prayog sell INFY 10          # market order
uv run prayog orders
uv run prayog cancel-all
uv run prayog watch INFY            # live order book in the terminal (Ctrl-C to stop)

7. Run a strategy¶

Choose the Quant layout (or add the Strategies panel). Pick one of six textbook strategies, set its parameters and risk limits, and press Start:

Strategy	Does	Try
TWAP	Buys or sells a total in equal slices over a time, crossing the spread for each	200 shares over 5 minutes
Iceberg	Shows only a small part of a large order, refilling as it trades	300 total, 20 visible
Grid	Resting buys below and sells above a centre price at fixed steps	₹1 step, 3 levels
Mean reversion	Buys when the price is unusually far below its recent average, sells when far above	Works well here: the simulated fair value mean-reverts
Momentum	Long while a fast average is above a slow one, short while below	Works in bursts; try the volatile scenario
Market maker	Quotes both sides around the mid, leaning against its inventory	Compete with the simulated market maker

Each strategy trades in its own account (algo-<strategy>-<symbol>), so its orders and P&L never mix with yours. Before every order it checks the risk limits: order size, worst-case position (as if all its open orders filled), distance from the last price and orders per minute; refused orders are logged, not sent. At the loss limit it stops and cancels its orders. Its card shows P&L with a sparkline, position, orders and fills, and a log of every decision.

Strategies run in this tab once a second. Stop or Stop all cancels their orders; so does closing the tab. The code is short on purpose: apps/web/src/strategies/library.ts.

8. Admin console¶

Sign in as admin1 (grep PRAYOG_ADMIN1_PASSWORD .env) and open the Admin tab: halt or open the market, change the clock speed, switch the simulated traders between calm and volatile, inject a "news" price jump, run the self-test with one click, manage accounts and replay the last minutes of any symbol from the journal. Details: runbook 13.

9. Stop¶

make down    # stops everything, keeps the market's history
make reset   # stops everything and deletes all local data (a brand-new market next time)

If something looks wrong, see the runbook's debugging page.