 To model volatility one needs description of the squares of trades aggregated during interval \Delta%DIFDELCMD < }%%% . To describe price probability one needs all n-th statistical moments of price but that is almost impossible. We define squares of agent's trades and macro expectations those approve the second-degree trades aggregated during interval {\Delta}.
<meaning-changed>  To model volatility one needs description of the squares of trades aggregated during interval \Delta%DIFDELCMD < }%%% . To describe price probability one needs all n-th statistical moments of price but that is almost impossible. We define squares of agent's trades and macro expectations those approve the second-degree trades aggregated during interval {\Delta}.
 To model volatility one needs description of the squares of trades aggregated during interval \Delta%DIFDELCMD < }%%% p2(t) forecasting requires modeling evolution of the sums of second-degree values C(2;t) and volumes U(2;t). We call this model as second-order economic theory. We use numerical continuous risk ratings as ground for risk assessment of economic agents and distribute agents by risk ratings as coordinates. We introduce continuous economic media approximation of squares of values and volumes of agents trades and their flows aggregated during time interval {\Delta}.