Lumley Trading — Research Notes https://www.lumleytrading.com/research Macro research notes and trade theses by William Lumley. en Thu, 29 May 2026 09:00:00 GMT How I Size and Stress-Test a Position https://www.lumleytrading.com/research/sizing-and-stress-testing-a-position https://www.lumleytrading.com/research/sizing-and-stress-testing-a-position Fri, 29 May 2026 09:00:00 GMT The risk mechanics behind every position — fixed dollar risk, ATR-based stops, R-multiples, portfolio weighting and Monte Carlo stress-testing. From Macro View to Position: How I Build a Trade https://www.lumleytrading.com/research/from-macro-view-to-position https://www.lumleytrading.com/research/from-macro-view-to-position Fri, 15 May 2026 09:00:00 GMT Turning a top-down macro view into a sized, risk-defined position — thesis, instrument selection, sizing and invalidation.