A transmission-line loop, energy-storage circuits, and load circuits are designed using lumped constant elements L, C, R. A beam-circuit code is presented to simulate operation of the Traveling-Wave Direct Energy Converter, in which electrostatic coupling between the proton beam and circuits is treated by directly solving Poisson's equation. Simulation results display desirable performance characteristics. Traveling wave with a fixed frequency is excited spontaneously without any external power supply. The wave is kept its equilibrium state under loading, and the wave stably responds to load variation.