Process and discipline

Sizing, risk limits, record-keeping, and reading evidence honestly — including evidence produced by us.

1. 01
   Position sizing: the arithmetic, not the adviceHow many contracts follows from three numbers. What those numbers should be is not something a website can tell you.
2. 02
   Drawdown limits and how prop firm rules workA trailing drawdown measured on unrealized profit behaves very differently from one measured on closed balance. Traders find out which they have at the worst moment.
3. 03
   Keeping a trade journal that's worth rereadingRecording what you did is nearly useless. Recording what you expected, before you knew, is the part that teaches you something.
4. 04
   Why the same setup behaves differently in different regimesNothing broke. The conditions the pattern depended on stopped being present, and a chart cannot tell you when that happened.
5. 05
   Reading a backtest sceptically, including oursHistorical results are produced by someone who already knew how the period turned out. Here is the checklist that applies to every one you will ever be shown.

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