API
Application programming interface
A defined way for software systems to exchange data or requests. Access, commercial use and order routing depend on the provider’s permissions and firm rules.
Trading terminology
Trading Glossary
Understand the language behind the trading business. Search terms, acronyms or definitions. On other pages, dotted-underlined terms reveal a short definition on hover, keyboard focus or tap.
Educational definitions, not financial advice. Firm rules and data conventions vary; independently verify the rules for each account. Descriptions of CMG capabilities do not change their private-testing or planned status.
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AutoPilot
CMG AutoPilot
A planned optional paid module for automated protective actions, only when authorized, supported and testing is complete. It is not included as automatic execution in Core.
Backwardation
Backwardation
A futures curve in which nearer-dated contracts trade above later-dated contracts. It describes relative contract prices, not a guarantee about future market direction.
Black-76
Black-76 model
An option-pricing model using a forward or futures price, volatility, time and discounting assumptions. The independent CMG IV/EM engine based on this model remains planned.
BPR
Buying power reduction
The amount of account buying power reserved or reduced for a position under applicable margin rules. BPR is not maximum potential loss; trading losses can exceed the buying power initially required.
CMG Market Edges OS
Trading operating system
The first product from CMG Market Edges: a conversational platform for the connected business of trading. It remains in prelaunch development; waitlist registration does not provide product access.
Consistency threshold
Consistency threshold / best-day cap
A firm-specific measure that can limit the share of total qualifying profit earned on one day. The calculation and eligibility rules vary by firm, account and payout program.
Contango
Contango
A futures curve in which later-dated contracts trade above nearer-dated contracts. This curve shape does not guarantee a profitable trade or predict the next price move.
Correlated exposure
Correlated exposure
Positions that may move together because they share market drivers. Several accounts or firms can still represent concentrated risk; correlations can change.
CPA
Certified public accountant
A professional accounting designation. CMG founder results have not been independently CPA audited, validated or endorsed.
DLL
Daily Loss Limit
A firm- and account-specific limit on losses for a defined trading day or session. How it is measured, reset and enforced must be verified against current firm rules.
Drawdown
Drawdown
A decline from a reference account value or equity peak. The relevant reference, treatment of unrealized P&L and breach conditions depend on the account’s rules.
EM
Expected Move
An implied-volatility-based estimate of a price range over a stated horizon, calculated with specific assumptions. It is not a promised range, price target or limit on possible moves.
EOA
End of Account
A review at the end of an account’s lifecycle. Conversational End-of-Account debriefs are planned for CMG Market Edges OS, not a live subscriber capability.
EOD
End of Day
The end of a trading day or session. CMG’s intended EOD debrief is an interactive conversation about progress, context and lessons, not simply a static report. Subscriber access has not launched.
Equity
Account equity
An account-value measure that can include unrealized P&L, depending on the platform and rule. Nominal account size, cash balance and usable loss cushion are different measures.
FVG
Fair Value Gap
A technical-analysis pattern describing an apparent price imbalance across a sequence of candles. Definitions vary; a marked gap does not have to fill.
Invalidation
Trade-plan invalidation
A predefined condition indicating that the original trade setup or thesis no longer holds. It is a planning condition, not a guaranteed execution price.
IV
Implied volatility
The volatility input consistent with an option’s market price under a pricing model. It reflects model assumptions and market prices, not a guarantee of future realized volatility.
Liquidity
Liquidity
The ability to transact without materially affecting price. Available depth and spreads can change quickly, and a stop or alert cannot guarantee a fill.
MA
Moving average
A calculation that smooths price data over a chosen lookback. Simple and exponential moving averages weight observations differently. Crosses and tags are context, not guaranteed signals.
MLL
Maximum Loss Limit
An account-specific loss threshold or floor defined by the firm. It may be fixed or trailing and may depend on intraday or end-of-day values. Verify the current rule and source before relying on it.
OE
Order Entry
The process of preparing and placing an order. A CMG OE preview describes proposed sizing and warnings; it does not imply permitted routing or control over manually placed outside-platform orders.
P&L
Profit and loss
The gain or loss associated with an account, position or period. Realized and unrealized P&L differ; fees, timing and the data source affect the figure.
Slippage
Slippage
The difference between an expected order price and the actual fill price. It can occur because of market movement, available liquidity or execution timing.
Stop / stop-loss
Stop / stop-loss order
An order or planned exit tied to a trigger price or condition. Depending on order type and market conditions, triggering does not guarantee execution at the stop price.
TA
Technical Analysis
Analysis of price, volume and related market data to describe patterns, levels and context. Examples include VWAP, moving averages and Fair Value Gaps; none guarantees an outcome.
Trailing drawdown
Trailing drawdown
A loss threshold that moves with a defined reference account high, subject to the firm’s rules. Whether and when the threshold stops moving, and which equity values count, vary.
VIX
Volatility Index
The Cboe Volatility Index measures expected near-term volatility derived from S&P 500 index options. The index and futures linked to it are different instruments.
VWAP
Volume-weighted average price
The average traded price weighted by volume over a specified period or session. Its value depends on the market, data source and session settings.
/VX
VIX futures / term structure
VIX futures contracts reflect prices for different expirations. Their term structure compares those expirations; it is not the cash VIX index. CMG’s full /VX term-structure monitor remains planned.
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