Field notes
Research, market structure and product updates — from the engine room.
Risk ManagementThe mathematics of risk-of-ruin: why position sizing beats win rate
A win rate of 70% means nothing if your position sizing is wrong. Here is the math every serious trader should understand before placing a single live trade.
Crypto / CEXFunding rates explained: the silent cost of crypto perpetuals
Every 8 hours, billions of dollars in funding payments quietly change hands between long and short positions. Most traders ignore this. The smart ones treat it as either a tax to minimize or a coupon to harvest.
Risk ManagementDrawdown is more than a number: reading it like a fund manager
Max drawdown is the most quoted, least informative statistic in trading. Real risk assessment looks at duration, recovery, ratio-adjusted variants, and the shape of the equity curve.
StrategyVolatility regimes: when the market mood changes, smart traders adapt
Markets do not have a single personality. They have moods. The traders who recognize when the mood changes — and adjust sizing, not just signals — keep their winnings. The ones who do not, give them back.
StrategySurvivorship bias in trading: why most backtests lie to you
A backtest with a Sharpe ratio of 3.0 is much more likely to be a measurement artifact than a real edge. Here is how the most common biases inflate historical performance — and how serious researchers control for them.
MT5 / HFTInside the market's engine room: reading microstructure
How professionals read order flow, not just price — and why the shape of liquidity tells you more than any indicator ever can.
Risk ManagementAPI keys security: the no-withdraw policy explained
Your funds never leave the exchange. Here is exactly what permissions the bot needs, why, and how the architecture makes theft mathematically impossible.
Machine LearningMachine learning in trading: why constrained intelligence beats unconstrained models
Throwing a 200-million-parameter transformer at the market gets you better averages and catastrophic tails. Here is what actually works — and what every operator should know about ML risk.
TutorialsHow to choose a real MT5 trading robot: a buyer's due diligence
The market is full of pretty backtests. Most do not survive forward. Here are the seven questions every serious buyer should ask — and the math behind why each one matters.