Tail risks for retail traders: what's protection worth?

Retail traders can't buy the hedges institutions use, but they can size for tail risk: smaller positions, wider stops, less leverage, more cash. Protection through design rather than instruments.

What's your tail-risk design?

• how you size for outlier moves
• the scenarios your plan survives
• the tail event that reshaped your sizing

Background: the SNB shock and weekend gaps.