Risk is part of the research, not a final approval step.
A strategy is not evaluated only by whether it appears to have edge, but by whether that edge can be sized, monitored, and attributed responsibly.
Data risk
Whether inputs are reliable, timely, complete, and available at decision time.
Model risk
Whether estimates remain calibrated, stable, and robust across market conditions.
Market risk
Whether liquidity, spread, volatility, and participant behavior affect tradability.
Execution risk
Whether fill quality, slippage, queue position, and adverse selection change the opportunity.
Sizing risk
Whether position size reflects confidence, uncertainty, liquidity, and drawdown tolerance.
Portfolio risk
Whether exposure, concentration, correlation, and capital availability remain controlled.
Attribution risk
Whether outcomes can be explained after the fact.
Scale follows evidence.
Signals are not treated equally. Capital allocation should reflect evidence quality, uncertainty, liquidity, execution conditions, and portfolio context.
We discuss risk philosophy publicly, not sizing formulas, thresholds, exposure limits, trade rules, or active risk parameters.