WY-06-29
Position Management, Review, and Rule Validation
Decisions, Execution & Validation
Sam Rivera
Full Chapters / WY-06-29
After entry, the account bears losses from adverse price changes, slippage, and costs. At each management point, ask whether continuing the remaining exposure from now, given current information, is preferable to reducing or exiting. Past fills and incurred costs belong in total performance, but having already paid them does not justify further risk. Asking whether one would establish equivalent exposure at current prices, boundaries, and costs if flat can test the holding rationale, though existing holdings also involve exit costs, taxes, and limits on instantaneous execution. Before holding, specify expected price development, its location, how long to wait, and behavior indicating a weakening view.
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13 lessons · Chapter contents
01Price and Time Expectations After Entry↗02Meeting Expectations, Underperforming, and Contrary Evidence↗03Changes in Holdings, Cost, and Risk After Scaling In or Out↗04Structural Exits, Time Exits, and Moving Stops↗05Improvised Plan Changes Versus Evidence-Based Rule Revisions↗06Execution Deviations and Their Technical Consequences↗07Four-Layer Review: Observation, Interpretation, Decision, and Execution↗08Initial Risk Amount R₀ and After-Cost R↗09MAE, MFE, and the Entire Trade's Continuous Net PnL Curve↗10Operational Definitions of Trading Rules↗11Samples, Future Information, Out-of-Sample Testing, and Costs↗12Win Rate, Profit/Loss Distribution, Expectancy, and Drawdown↗13Rule Changes and Version Control↗The course transcript will be available with the finished video. The captions below belong to the interface demo.
Observe the market: start with context and place price within its structure.
Understand structure: compare supply and demand, and let evidence support or revise your hypothesis.
Form a view: define risk limits and know when to reassess.
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Relative Strength and Opportunity Screening
Point-and-Figure Charts and Price Target Estimation
