Welcome to the terminology page.
The purpose of this page is to assist traders who are not familiar with 8alert’s methodologies, models and signaling methods.
Our alerts are created as a simulated trade. Therefor we have 4 statuses as follows:
- Pending: When we plan a trade and we give our analysis and ranges of where to get into the trade.
- Open: When the product (stock, future, etc.) reached our numbers, we begin treating it as a live trade.
- Follow Up: As long as the trade is live we manage it and might change some orders (ex. Change the Stop Loss, close half)
- Close: When we decide to close the trade (the product reached the target price or we changed our view of the trade) we close it as we would have in real life and we upload a summation of it including the loss or gain it provided
Active Signals:
- Signal entry price: entry price might be a specific price or might be within a range. The user can choose his entry price accordingly. 8alerts will always manage the trade as if picked the worst price.
- Profit taking: as mentioned at the entry price, profit taking prices will usually be given as a range. 8alerts will always calculate the profit from its early price = (less profit).
- stop loss: with regards to the earlier ranges, stop loss price is specific and not a range of prices.
Notes regarding price ranges:
- Category: Stocks/Indices/commodities/Currencies – active trade for that kind of product ; Briefing – present a strategy, and not an active trade. This will probably turn into trade signal later on.
- Symbol: product symbol. Note, some symbols can vary from one trading platform to another.
- Action: Action made at the signal (setting entry price, set/change TP1, changing stop price…).
- Scalp – short term signal (the expected signal lifetime from entry to profit/loss is few hours) – pay attention to Duration
- Swing – longer term signal (from hours to days). Duration column might be empty or zero, hence, duration is not relevant.
- Duration: period of time in minutes. If that period passed and no “Entry order filled” execution is made, this signal is cancelled.
- Price: the entry price range. Values might change during signal management.
- Stop: stop loss price. Value might change during signal management (and become stop profit).
- TP1/TP2: price range for profit taking 1 and 2.
- Execution: execution refers to one of the actions mentioned earlier.
- Closed Signals: all closed (elapsed) signals including their final result calculation – gain or loss. The calculation assumes the following amounts:
- For stocks, the calculated position is 10K$.
- For indices future contracts, the calculated position is 1 or 2.
- For currencies, the calculated position is 100K$
- Quantity: The above values appear at quantity column
- Total: total gain/loss in points + %
- P&L: total gain/loss in US $ + %
Graphs:
- Cru = Crucial = graph’s crucial area
- T.I. = Trading idea
- B.S.S.R = buy support, sell resistance
- Box Trading = estimated levels of Support and Resistance
- Clus = Cluster = group of parameters that create the model to work with, at a specific time.
- HDM = Hold Down Momentum
- HUM = Hold Up Momentum