1. A method for color grading an image within a color space associated with a display, wherein the color space comprises a plurality of color component values, the method comprising: a) receiving a source image comprising a first plurality of pixels, wherein a second plurality of pixels from the first plurality of pixels are associated with colors within a first gamut but outside a second gamut, and wherein the color space comprises RGB; b) receiving a color grading signal; c) determining, using a processor, a graded image by automatically modifying the colors associated with pixels from the second plurality of pixels to become modified colors in response to the color grading signal, wherein the modified colors are within the second gamut, and wherein at least one color component value of the colors of the second plurality of pixels are substantially similar to at least one color component value of the modified colors of the second plurality of pixels, wherein an order of colors in the one color component of the second plurality of pixels in the source image is preserved in the modified colors in the graded image; and d) storing the color grading signal in a memory.