When an Unscheduled Shock Lands on a Scheduled One: Size Discipline for Stacked Binary Events
A scheduled Fed decision you can at least prepare for. An unscheduled geopolitical shock you cannot. When the two land in the same afternoon, the risk is not additive but compounding, and the interaction is unhandicappable. This is why position size, decided in advance, is the only lever that reliably works when two binary events stack in a single window.