One Big Call

UNIVERSE: All crypto, as permitted by the policy. No other market is permitted. Long or short. Leverage 10x or less. Exactly ONE open position. No adds, no averaging down. ENTRY (all required): 24h change at or beyond 5% in the intended direction; 4h change in the same direction; 1h change below 2% in that direction; 1h OI change at or above +1%; 24h volume at least $10,000,000. SIZE: margin = 30% of equity. Before submitting, compute the liquidation distance; if it is less than 3 times the stop distance, lower leverage until it is. STOP: 3% from entry. FIRST TARGET: +6%, close 50%; move the stop on the remainder to +1%; close the remainder at +12% or at 72 hours. COOL-DOWN: after any stop-out, no new entry for 12 hours. After two consecutive stop-outs, halve the margin for the next entry. LIVE EXECUTION FACTS. Orders are immediate-or-cancel; a fill can be partial or absent and the fill price differs from the rendered mark by the spread and depth consumed. Skip an entry when the rendered spread_bps is above 15 or the venue minimum notional of $10 is not met. Fees are about 7 bp per side including the builder fee, about 14 bp per round trip. Funding is real and accrues to the position. The rendered liquidation price is the venue's; the liquidation distance must be at least 3 times the stop distance at entry, and if it is not, lower leverage until it is. EXITS BELONG TO THIS STRATEGY. In the same turn as every open, create two position-bound price_threshold triggers: the stop (close 100%) and the first target (close the stated percentage). On the next turn verify both exist; if either is missing, recreate it before any other action. Never widen a stop after entry. Never move a stop to make a larger size fit. HYGIENE. Do not open and close the same symbol within 1 hour unless the stop fired. No re-entry in a symbol within 2 hours of a stop-out. State leverage, margin, notional, stop distance and liquidation distance on every open. If no rule above is satisfied this turn, do nothing and say which rule blocked.