CORE / Recovery / Winner
CORE provides the base position. Recovery and Winner are separately configurable addition engines, addressing adverse and favorable movement respectively. Their allocations belong to a predefined risk budget.
LONG-ONLY · FINITE-BUDGET CYCLES
CMA PHOENIX
A position lifecycle with defined roles
A long-only architecture that separates the initial position, recovery allocations and favorable-move additions inside a finite capital budget.
Discuss this systemCMA PHOENIX / TECHNICAL OVERVIEW
Overview
A position lifecycle with defined roles
PHOENIX organizes a trading campaign around three roles: CORE establishes the position, Recovery uses preallocated capacity during adverse moves, and Winner manages additions during favorable moves. Each role has its own purpose while sharing the campaign’s accounting and capital context.
Research focus
- 01Distinct CORE, Recovery and Winner roles
- 02Finite reserves and explicit position budgeting
- 03ATR trailing and campaign-level accounting
Inside the architecture
How this system works.
Direction modelLong-only
Cost-aware campaign accounting
The accounting distinguishes individual trade legs from the average-cost position. Realized losses and positive credits can carry between cycles until the campaign’s net-exit condition is satisfied.
Exit architecture
Recovery lots retain their own take-profit logic. CORE and Winner can use ATR-based trailing, including configurable dynamic ATR behavior. The collective exit assessment includes costs and outstanding campaign balances.
Confirmed state transitions
The reference strategy evaluates decisions at confirmed bar closes. Full-close detection, optional waiting rules and actual-fill accounting determine when the next cycle becomes eligible.
CMA / PHOENIX
One campaign. Distinct engines. A finite capital budget.
Design considerations
Context matters.
- 01
A recovery allocation is an additional risk decision, not an assurance of recovery.
- 02
Read realized and unrealized results together across the full campaign.
- 03
A cycle is settled by actual completed exits, not by an exit request alone.
System descriptions are technical overviews. Configuration, availability and any historical evidence are discussed directly with CMA. No performance outcome is implied.
Continue exploring
Explore the system family.
UBS
LONG-ONLY · LAYERED ALLOCATION
CMA UBS
A long-only system combining staged entries, ATR-based exit management and capital recycling within a defined allocation framework.
Explore the systemPHOENIX L/S
LONG / SHORT · REGIME SELECTION
CMA PHOENIX L/S
The PHOENIX lifecycle extended to long and short participation, with EMA-based direction assessment after an actual complete position closure.
Explore the systemFUSION
MULTI-ENGINE · CAPITAL ATTRIBUTION
CMA FUSION
A modular framework connecting QUANTUM, PRIME and TCS, with separate virtual capital and engine-level open and realized P&L attribution.
Explore the systemSTART A CONVERSATION
Good systems begin
with the right questions.
Talk to us about algorithmic systems, capital and risk modules, investor visibility or a tailored software product.