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Every order — autopilot, CLI agent, web terminal trade ticket, intent executor — runs through these gates. They fail-closed on every violation: the order is rejected with a structured reason, never silently downsized.

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Gate checks (entry orders)

CheckFailing condition
Min balancebalance_cents < min_balance_cents
Single-order caporder_cost_cents > max_single_order_cents
Total exposure(current_exposure + order_cost) > max_total_exposure_cents
Daily loss cap|daily_realized_pnl| > max_daily_loss_cents (if PnL is negative)
Position countopen_positions >= max_positions
Orders this tickorders_this_tick >= max_orders_per_tick
Cooldown after lossticks_since_last_loss < cooldown_after_loss_ticks

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Gate checks (exit orders)

Exit orders skip the position-count and exposure gates (they reduce exposure), but still respect single-order cap and daily-loss cap.

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Configuration

Per-user limits live in portfolio_config. Update with: 
sf portfolio config max_total_exposure_cents 500000
sf portfolio config max_per_market_cents 150000
Defaults: 
max_total_exposure_cents:    300000  ($3,000)
max_per_market_cents:        100000  ($1,000)
max_daily_loss_cents:        15000   ($150)
max_positions:               20
min_balance_cents:           10000   ($100)
max_orders_per_tick:         3
max_single_order_cents:      20000   ($200)
cooldown_after_loss_ticks:   4

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Drawdown halt

Two thresholds beyond per-trade gates:
  • drawdown_warn_cents (default $300) — emits a health_alert but doesn’t halt.
  • max_drawdown_halt_cents (default $500) — auto-flips execution_mode to halted. Recoverable only by manual sf portfolio config executionMode live.

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Where gates apply

The same gate semantics apply across the CLI agent, web terminal trade ticket, intent executor, and portfolio autopilot. Treat the gate result as the contract: accepted orders proceed, rejected orders return a structured reason.

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Next steps

Portfolio autopilot

The autopilot runtime calling these gates.

Trade intents

Gate also runs on intent submission.