Phantom Desk
A paper-trading simulator using reference market data where you can document hypothetical scenarios, review rule fields, and compare simulated outcomes. The AI Pre-Trade Validator displays checks against configured assumptions, while AI Trade Autopsy provides retrospective context; neither predicts or approves live performance.
What this page covers
- How to document and manage hypothetical paper scenarios in the Trade Desk
- How the AI Pre-Trade Validator displays configured rule checks
- How to set up and navigate Prop Firm Challenge Mode
- How AI Trade Autopsy builds your improvement over time
Reference Prices, Simulated Risk
Phantom Desk presents reference market data for paper scenarios. A simulated submission records the configured fields and simulated execution assumptions; it is not a live order and cannot eliminate differences between a simulation and a live venue.
Spreads, gaps, swaps, latency, and other fields may be modeled or optional. Treat all results as hypothetical and review the data source, timestamp, and assumptions before drawing conclusions.
The Trade Desk
The Trade Desk is the main paper-scenario interface. It records fields commonly used in a trading simulator:
- Pair selection (all 31 supported pairs)
- Direction: Long or Short
- Reference method: current-data or user-specified hypothetical price
- Exposure field: lots, units, or percentage of simulated account
- Invalidation reference: pips, price level, or percentage field
- Later-level references: optional comparison levels
- Scenario calculator updates as assumptions change
AI Pre-Trade Validator
Before a paper scenario is recorded, the AI Pre-Trade Validator displays a 6-point checklist against configured assumptions and simulation rules:
| Check | What it evaluates | Fail condition |
|---|---|---|
| Session context | Is the scenario timestamp within a configured window? | Display context if outside |
| Scenario ratio | Does the hypothetical ratio match the configured field? | Display a comparison |
| Daily loss field | Does the simulated record approach its configured field? | Display rule context |
| Phase context | How does the scenario label compare with the 1H Wyckoff phase? | Display a comparison |
| Personal pattern check | Does the scenario resemble a journal pattern? | Display historical context |
| Exposure field | Does the hypothetical amount match the configured field? | Display rule context |
Prop Firm Challenge Mode
Challenge Mode simulates selected evaluation fields from major prop trading firms. It creates a structured paper environment for comparing rules; it does not prove profitability or grant funded-account status.
Configure your paper challenge with provider rule examples. These percentages are illustrative commercial rule examples, not promises or universal terms; verify the current provider rules before relying on them:
| Parameter | Description | Illustrative provider-rule example (not a promise) |
|---|---|---|
| Starting balance | Your simulated account size | $25K / $50K / $100K / $200K |
| Daily drawdown limit | Maximum loss allowed in a single trading day | Provider rule example: 4–5% of starting balance |
| Max drawdown | Cumulative loss allowed before account failure | Provider rule example: 8–10% of starting balance |
| Profit target (Phase 1) | Percentage gain required to pass Phase 1 | Provider rule example: 8–10% |
| Profit target (Phase 2) | Percentage gain required to pass Phase 2 (if applicable) | Provider rule example: 4–5% |
| Minimum trading days | Minimum days you must trade during the challenge | 10 days |
| News trading rule | Whether you can trade during major news events | Optional: enable/disable |
| Weekend holding | Whether positions can be held over weekends | Optional: enable/disable |
Advanced Analytics Dashboard
The Analytics section of Phantom Desk shows simulated records with statistical breakdowns for retrospective review:
- Equity curve with drawdown overlay
- Win rate by pair, session, day of week, and trade direction
- Average win vs average loss in R-multiples
- Maximum consecutive wins and losses
- Largest and smallest recorded scenarios by R-multiple
- Performance comparison: current month vs previous months
AI Trade Autopsy
After every closed paper trade, the AI Autopsy analyzes what happened in detail:
- Reference quality assessment: compare documented levels with later data
- Later-level assessment: compare recorded assumptions with subsequent movement
- Pattern identification: which recurring behavioral pattern did this trade fit?
- Rule adherence check: did you follow your stated rules? Which ones did you break?
- Study note: one specific observation for a later similar scenario
The 30-Day Paper Study Plan
A structured 30-day Phantom Desk study period can help learners organize observations. The framework below is hypothetical; it does not prescribe frequency, exposure, or a pass standard:
| Week | Focus | Study routine | Review field |
|---|---|---|---|
| Week 1 (Days 1–7) | Session context | Compare paper scenarios across configured session windows. | Record timestamps and assumptions |
| Week 2 (Days 8–14) | Model comparison | Compare HMIE readings with later candles. | Record agreement and conflict |
| Week 3 (Days 15–21) | Exposure assumptions | Review the simulator's displayed fields and units. | Document hypothetical inputs |
| Week 4 (Days 22–30) | Rule adherence + review | Review validator notes and autopsies for the paper record. | Summarize uncertainty and limitations |
Advanced Analytics Dashboard
The Phantom Desk Analytics tab summarizes simulated records. Metrics should be interpreted with the sample size, assumptions, fees, and data source; no benchmark below is a profitability or quality claim:
| Metric | What it measures | Study interpretation |
|---|---|---|
| Profit Factor | Gross simulated result ÷ gross simulated loss | Compare samples and assumptions |
| Expectancy (R) | Average simulated result in R multiples | Retrospective field, not a target |
| Win Rate | Simulated scenarios meeting the selected outcome field | Depends on definitions and sample |
| Sharpe Ratio | Simulated result relative to volatility | Context-dependent comparison |
| Max Consecutive Losses | Longest simulated losing sequence | Record sample behavior |
| Session Win Rate Split | Outcome field by named session | Compare periods without inferring an optimal window |
| Reference Efficiency | Distance from documented reference to later data | Model-defined retrospective field |
Frequently asked questions
Does Phantom Desk simulate spread and swap costs?
Yes. Spreads are simulated using live spread data pulled from the TradingView feed for each pair. Swap/rollover costs are optional — toggle them on in Phantom Desk Settings for the most realistic simulation. When swap simulation is enabled, overnight positions are debited or credited at the standard institutional rate for each pair.
How is the starting balance set for paper trading?
You set your own starting balance in Phantom Desk Settings — common choices are $10,000, $25,000, $50,000, or $100,000. You can reset your balance at any time, but your historical trade log is preserved. The reset creates a new 'session' in your Analytics so you can compare performance across different balance periods.
Can I run Phantom Desk alongside a live prop firm challenge?
Yes, as a separate paper-study record. Verify provider terms independently and do not treat simulated results or rule settings as evidence that a live evaluation will be passed.
Do Phantom Desk scenarios feed into my AI Coach and Journal?
Yes. Paper scenarios can create journal context for behavioral review. They remain distinct from live records, and the resulting coaching insights do not establish live performance.
What happens when I fail a prop firm challenge in Phantom Desk?
When a daily drawdown or max drawdown limit is breached in Challenge Mode, the challenge is automatically paused and you receive an autopsy of the violation — which rule was broken, which trade caused it, and what the behavioral pattern behind it was. You can restart the challenge immediately or review the data first.
Is there a leaderboard for Phantom Desk performance?
Yes. The Phantom Desk Leaderboard ranks users by risk-adjusted return (Sharpe ratio) across their active challenge sessions. It's updated daily. The weekly challenge winner receives a special 'Phantom Champion' badge in the community and bonus XP. Only Challenge Mode sessions are counted for leaderboard ranking.