Reading a Signal Row
Read a signal row left to right: product and symbol, lifecycle state, grade, side, entry basis, active risk or protection, live price, P&L, and timing. The state tells you how to interpret the numbers.
The row contract
| Field | Question it answers |
|---|---|
| Product / symbol | Which lane and instrument is this? |
| State | Is it pending, at risk, protected, or closed? |
| Grade | What conviction tier was assigned inside this lane? |
| Side | Long or short? |
| Entry basis | Which published price or convention starts the record? |
| Active risk / protection | What currently governs the lifecycle? |
| Live / P&L | Where is the reference price and research result now? |
| Expiry / updated | When does the card end, and how fresh is the state? |
Three common reading errors
- Treating pending as open. A near or watch card is not an active position.
- Following a retired level. A manager update can replace earlier risk information.
- Comparing grades across products. Grade scales are scoped to their own lanes.
Why some rows differ
Products use different horizons and lifecycle managers, so not every row exposes the same optional fields. The shared identity and evidence fields remain consistent; product-specific management fields appear only where they apply.
Which field should I read first?
Start with product and state. They determine how the rest of the row should be interpreted.
Why did the risk field change?
The card may have advanced to a new manager state. Use the latest update, not an old screenshot.
Why can my P&L differ?
Your execution can differ from the published research basis because of spread, slippage, latency, gaps, and size.