Evaluation Stages

No Restrictions

During the evaluation stages, traders are allowed to trade news without any restrictions. This applies to all evaluation phases, including:

• 1-Step Evaluation

• 2-Step Evaluation (Phase 1 & Phase 2)

• 3-Step Evaluation (Phase 1, Phase 2 & Phase 3)

Traders in these stages can open, close, or modify positions at any time, regardless of scheduled news events.

Funded Accounts & Orion Zero

News Trading Restrictions

Once a trader reaches a funded stage, including Orion Zero, 1-Step, 2-Step, and 3-Step funded accounts, restrictions apply to trading during high-impact news events.

Prohibited Actions
During the restricted period, traders are not allowed to:

a. Open new trades (Market Execution or Limit Orders).
b. Close existing trades (Market Execution or Limit Orders).
c. Modify Stop Loss or Take Profit levels.
d. Place Buy Stop or Sell Stop orders.

Restricted Time Window
Trading restrictions apply 5 minutes before and 5 minutes after a high-impact news event. Any execution or modification of trades during this time will be considered a violation of the trading policy.

If a trade executed within the restricted time window results in a profit, the profit will be removed and not counted. This will be enforced twice as a warning. On the third violation, the account will be breached and no longer eligible for withdrawals.

Holding Trades During News
Trades that are opened at least 5 minutes before the restricted news event may remain open. However, any adjustments to those trades within the restricted period will be subject to review.

Definition of High-Impact News Events
High-impact news refers to economic or geopolitical announcements that have the potential to significantly affect financial markets. These include, but are not limited to:

• Central bank interest rate decisions

• Economic indicators (e.g., Non-Farm Payrolls, CPI, GDP reports)

• Major political or regulatory announcements

Trading Strategies Based on News Volatility
Trading strategies specifically designed to exploit news volatility are not permitted. This includes:

• Directional trading based on anticipated news impact

• Straddles and strangles

• Entering trades immediately before or after a news release to capitalize on market movements
  
  However, please note that you are allowed to hold your running trades during news events. Additionally, only high-impact news events that have a direct correlation with the trading pairs will be taken into consideration. If the news is not directly correlated to your trading pair or is low or mid-impact, you are free to take trades.

For example, if you want to take a trade-in EURUSD and there is high-impact news on CNY, you can still open the EURUSD trade as the CNY news is not directly correlated to your trading pair. But if the news were in USD or EUR, then you would be restricted from opening or closing a trade 5 minutes before and after the news.

Traders should monitor high-impact news events using the Economic Calendar available in the Orion Dashboard:
dashboard.orionfunded.com