What is a drawdown brake?
A drawdown brake is the simplest portfolio-level risk overlay that actually works in live trading.
How it works
Track trailing-30d portfolio drawdown. Above threshold = full size. Below threshold = scale to a floor (e.g. 40%).
Smartbull implementation
Phase 82 splits the brake by sleeve class: trend 15/5%, carry 8/3%, cross-carry 6/2%. Each scales to 40% floor independently.
See it in the live engine:
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