03 — Risk
Limits are defined before a strategy trades. They are not negotiated during a drawdown.
Controls
01
Position sizing rules
Size is set by the strategy's risk budget and current volatility, never by conviction alone.
02
Daily and weekly loss limits
Each trader and strategy has hard loss limits. When a limit is reached, trading stops for the period.
03
Max drawdown per strategy
Every strategy has a predefined drawdown threshold. Breaching it triggers reduction or review.
04
Correlation and exposure checks
We monitor combined exposure across positions so separate trades do not become one large bet.
05
Desk-level oversight
Risk is monitored independently of the person placing the trade, throughout the session.