BearBreakerThe TCB ledger is not a spreadsheet you update by hand. It is a running record of actual capital deployed, updated only after confirmed fills. When you expand, the ledger adds the capital spent and the units bought. When you contract, the ledger applies a formula that raises the average cost of the remaining units.
Why raise the average cost? Because a profitable exit should make future expansions harder, not easier. If you sell half your position at a gain, the remaining units represent the expensive half of your original entry. A broker statement will happily show you a flattering average that ignores the profit you already took off the table. The ledger refuses to do that.
The word "confirmed" carries a lot of weight here. Nothing enters the ledger on intent. An order that is submitted but never filled changes nothing. A partial fill records only the units and capital that actually moved. This keeps the ledger and the broker in agreement, which matters enormously the first time a market opens with a gap and half your orders behave unexpectedly.
Because the ledger is the reference point for the midpoint rule, it directly shapes behaviour. Additional expansion driven by pure signals is only permitted when price sits below the current average, so a rising average naturally throttles buying. The system becomes progressively more selective as it books gains, instead of recycling profits into larger and larger positions.
This is the core of BearBreaker's discipline. It does not pretend you are still at your original entry price. It lifts the barrier so the next expansion only happens when the price is genuinely lower relative to the real capital you still have at risk, and it writes every adjustment down so you can audit exactly why a decision was or was not taken.