Position Management

Read these first

1. 01Scaling Into A Position

   Buying your target size in tranches on a schedule you wrote before you started. It buys you a better average price and a look at how the market absorbs you, and it costs you real money on the trades that work immediately.

2. 02Sizing A New Trade From Scratch

   Sizing is not one calculation. It is four independent ceilings, risk budget, liquidity, house limits and conviction, and the size you take is the smallest of them, never the average and never the biggest.

3. 03Unwinding A Large Position Gracefully

   Getting out of a big position is a separate skill from picking it: the goal shifts from being right to leaving as little money as possible on the table while you leave.

Then the rest

1. 04Holding-Period Discipline
2. 05Concentration Caps On A Live Book
3. 06Deciding To Carry A Position Overnight
4. 07Financing Constraints On Position Size
5. 08Margin Headroom And Buying Power
6. 09Orderly Exit Versus Forced Liquidation
7. 10Position Limits And How Much You Are Using
8. 11Running Gross And Net Exposure
9. 12Scaling Out And Taking Partial Profits
10. 13Short Recalls And Forced Buy-Ins
11. 14Sizing Against Average Daily Volume
12. 15Sizing By Conviction
13. 16Sizing Correlated Positions Together
14. 17The Stale Position Review