Trade Plans serve a pre-trade information purpose and prepare traders for upcoming events by giving clear trade-related information and instructions.
Post-trade info such as the actual number and deviation are shown as well.
Trade Plans can be accessed via the Economic Calendar.
As in the Economic Calendar, you can see the name, date, and time of the event along with values for actual and expected.
|Dev.||shows the deviation between the actual and the expected data right after the release.|
|Signal||can either be NT (No Trade) – if the deviation was smaller than Trigger 1 and thus a trade was not triggered – or B1, B2, B3 (BUY) or S1, S2, S3 (SELL).|
|Instrument||shows the currency, index or futures contract that we recommend for the trade and is shown in the Instrument column. All triggers are set as if you’d be trading the default instrument. It’s possible to trade other instruments but you may have to reverse the triggers if it has a negative correlation to the default instrument.|
Trade Plans inherit a grid with the trade entry Trigger and corresponding trade entry probabilities. (seen below)
In this example, BUY 1 (B1) has a Trigger of 1 and a probability of 50%, BUY 2 (B2) has a Trigger of 2 and a probability of 34%, BUY 3 (B3) has a Trigger of 3 and a probability of 25%.
SELL 1 (S1) has a Trigger of -1 and a probability of 50%, SELL 2 (S2) has a Trigger of -2 and a probability of 34%, SELL 3 (S3) has a Trigger of -3 and a probability of 25%.
In this case, the Trigger values for our BUY Triggers are the same as for the SELL Triggers (note: sell Triggers with a minus in front of them accommodate the fact that a worse than expected or smaller actual result is negative for the underlying currency, however: sell Triggers can also be positive).
|Performance||measures the expected trade performance on a scale from 1 to 5 with 5 being the best. It takes into account the average expected spike size as a reaction to a deviation of a news event. If a small deviation is able to result in a large spike, the economic indicator has a great performance.|
|Risk||measures the expected risk of the trade on a scale from 1 to 5, with 5 being the greatest risk. Trades with low-risk values are favorable to trades with high-risk values. “Risk” is a complex parameter that takes into account several variables: average spread during the time of the release, complexity of the report, possible conflicts with other reports, the risk of quick price reversals or delays in release time.|
|Delay||is possible when trading economic events and describes the incident that a signal is received after the spike has happened – often resulting in a loss. Delay in the Trade Plan has the following values: “yes”, “no”, “possible”. “Yes” means that a delay is almost 100% certain, “no” means that no delay is expected, “possible” has a higher chance for a delay to happen.|
The History Table chronologically lists past events of the same economic indicator along with the historic Signal and links to the historic Trade Plans and Charts.
Separate columns show either All Events or only Events where a Signal Passed.
Reports can further be sorted by Country or Event Name. That means that the history of just a specific event can be shown or all events by a specific country.