Hello shashidharga
No u cannot use wired sim as rcb7x has no trainer Port.i tried with reflex and fms.fms is always provided in the cd just install it.and for phoneix simulator I hav given the link in previous reply.just download and install. Then connect u r dongle to receiver and plug into usb port. (U may reffer the rcb7x ,manual) now open the sim and calabrite the tx in the sim.and thats all.now u can play.there are some paid simulator like clearview rc simulator. Here is the free trial
http://rcflightsim.com/download.html