Got it. Thanks. The assuming successful by end of the year is an important part. At the same time, some traders hit a profit number during the year they are ha

Got it. Thanks. The assuming successful by end of the year is an important part. At the same time, some traders hit a profit number during the year they are happy with and then try to lock it in, choose to go risk off and just coast till the end of the year. Especially if a trader feels they don't get paid for risk towards year end - this option is even more attractive. Assuming the goal is to make profit and not just don't get kicked out. Traders who got lucky mid year not taking enough Q4 risk happens. Some firms step in if they see too little risk from a desk. Very few funds are able to keep risk management info private for very long. People move. People talk. Some trading rules can be reverse engineered in data but this is easily spoofed. BlueCrest closed last year and returned outside capital, so I agree things probably look very different there now.