A deliberation is a structured debate that runs in rounds. It always ends the same way — with a decision: the Portfolio Manager's call on one market, recorded with the price at that moment and graded against what happens next. Everything before it exists to make that call well-argued.
You watch it happen live in the Squad view, message by message.
The rounds#
Rounds 1–2 · the debate#
The eight specialists — a bull and a bear for technical, fundamentals, news and sentiment — each post an opening thesis grounded in the actual data for the strategy's market. Then they cross-examine: the bears attack the bulls' arguments and the bulls rebut. This is the part that catches a case that only sounds good until someone pushes on it.
Round 3 · the Research Manager#
The Research Manager reads the whole debate and synthesises it into a research brief — where the analysts agree, where they conflict, and what the weight of the argument actually supports. It does not decide the trade; it organises the evidence for the manager who does.
Round 4 · the decision#
The Portfolio Manager makes the call. It reads the research brief, the market readings, and — this is the part that makes a Squad improve — its own record: what it decided last time on this market, how that scored, and where its cumulative points stand.
It emits one of five states: long, short, hold, risk off long (close longs) or risk off short (close shorts), with a confidence and its reasoning. That decision is recorded with the market price at that moment, and graded when the next one lands.
The Portfolio Manager is the only member whose word becomes a decision, and the only one that is scored. The specialists argue from fixed stances — a bull is paid to find the bull case — so they are advocates, not forecasters.
Round 5 · recording the decision#
The decision is written to the Squad's record. Nothing is traded. A Squad has no ability to open or size a position — strategies read its decision line through the Committee Decision indicator and decide for themselves what to do with it.
The decision is what you read#
You can watch every message as the rounds play out, and the full debate is worth reading when you want to understand why — but the decision is the output. It appears on the Squad's header badge for that market immediately, and on its Performance tab alongside the price at the time and, once the next decision lands, the score it earned.
Read a losing Squad's debate, not just its call. The value of the bull/bear structure is that the argument is on the record — when a call goes wrong, the cross-examination usually shows you which analyst was overruled, and whether the case against was made and ignored or never made at all.
Grounding — what the committee actually sees#
The specialists are not guessing. Each domain is grounded in real data for the strategy's market: the technical analysts read its indicators, the news and sentiment analysts read the tagged news feed, and so on. That grounding is why the same Squad gives genuinely different verdicts on different strategies — it is reading each one's actual situation.