The settings in the Message Settings sub-dialog determine the type of messages that are displayed in the Console. The first setting is:

• Max characters per line in console: This sets the maximum number of characters that are shown in any message line before the line wraps. This is useful for ensuring all messages can be seen, irrespective of the width you set the Console to, as the console does not have a horizontal scroll-bar.

Checking any of these settings enables the category of messages described:

• Show trade signals: The details of a trade signal is displayed in the console, when the signal is raised
• Show trades: Displays the full details of every trade that is executed during a back-test, in the console
  • show persistent term updates: Every time an Action rule updates a Persistent Term then the details are displayed in the console

• Show console trade alerts during back-tests: Any alerts raised by an Action rule (which are normally only relevant in Live sessions) will also be displayed during back-tests, otherwise they will be suppressed
• Show valuation for open positions after back-test: Shows the valuation of all open positions at the end of a back-test
• Show system information messages (recommended): Enables RuleTrader information messages, which describes what operation RuleTrader will perform or has performed. We recommend you leave this checked.
• Show system warning messages: Top-level setting that enables or disables all warning messages. If it is checked, you can also enable/disable any of these specific categories of message:
  • show rule-evaluation warning messages: Enables the display of a warning if RuleTrader encounters an issue, when evaluating your Trading Spec during a back-test. If you find there are too many warnings (many of which can be ignored) we recommend that your disable this setting
  • warn if settings will slow test performance: A warning dialog will be displayed if any of your settings will unduly slow the execution of a back-test. This is a useful guard, so is best left enabled
  • warn if spreads cannot be calculated: If a share’s average spread cannot be calculated because there is insufficient bid-offer data in the averaging period, then a warning will be issued and RuleTrader will use the default  spread specified in the Trading Costs tab
  • warn of potential test bias: When designing a trading system it can be surprisingly easy to accidentally bias your back-test results (see Bias Warnings). We recommend checking this option, so you’ll be warned of some of the ways this bias may happen, if you choose such an option when designing your Trading Spec.

One of RuleTrader’s design goals was to provide complete transparency for its operations. This includes the selection of trading lists, the information about which is controlled by these settings. Checking an option enables messages:

• Show trading list pre-filter settings: Displays the filters you set for selecting the Trading Universe (if enabled) at the start of the back-test
• Show list of shares that passed pre-filtering: Lists all the shares that were selected for the Trading Universe
• Show results of sampling the source lists: Displays the shares that remain in the Trading Universe after list sampling is completed (if used)
• Show shares precluded from list selection, with reason why: Displays those shares that will not be included in list selection because they failed a validation test (e.g. no prices in the list period, not tradeable, suspended, delisted, etc.)
• Show each step of list selection: Displays each step in the list selection process
  • show each list of securities: Shows the list of shares that results from each step of the process

• Show the final trading list for each strategy: Displays the final list selected for a trading strategy
  • show breakdown of securities: Separately displays the securities that are permanently in the list, or were added to the list, or continued from the previous list, or removed from the list, or reinstated in the list because they have an open position (see Selection Categories)

• Show the final, combined trading list: Shows the combined list across all strategies, with each share included once only
  • show breakdown of securities: Separately displays the securities that were added to the list, or continued from the previous list, or were removed from the list

• Show each period’s list selection statistics, by strategy: Displays at the end of the back-test, a table showing the number of shares selected in each category, by each strategy, for each selection period
• When loading a list from file, warn of missing or superfluous data: Displays a warning if the trading list loaded from a file does not match the list selection requirements of the currently selected Trading Spec (e.g. a trading strategy is missing / superfluous, or the list selection periods do not match the currently defined test period)