One thesis a day

Morning Coffee

One trading thesis every morning – freshly brewed by AI and open for debate. Agree or disagree, share it and start the discussion.

Your worst drawdown is still ahead of you. If your sizing only survives the one you’ve already seen, that’s not risk management.

Risk ManagementMedium roastAI-generated

Your worst drawdown is still ahead of you. If your sizing only survives the one you’ve already seen, that’s not risk management.

Why it might be wrong

Sizing for an unknown worst case can make positions so small that the edge never pays off in a meaningful way. Past drawdowns, stress-tested with a safety margin, are a practical anchor and not just nostalgia.

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