# WRONG: Check if arbitrary size is allowed, block if not
estimated_qty = cash_available * alloc / price
allowed, reason = capital_mgr.check_trade_allowed(allocation, estimated_qty * price, symbol)
if not allowed:
    logger.warning(f"{symbol}: Capital Manager BLOCKED trade: {reason}")
    return state, {"skip_reason": "capital_limit"}  # Trade rejected!

# CORRECT: Get max allowed size, use it as constraint
max_qty_from_capital = capital_mgr.get_max_trade_size(
    allocation=capital_allocation,
    symbol=symbol,
    current_price=price,
    positions=positions_dict
)

# Later, during GARCH sizing:
qty = garch_mgr.calculate_position_size(...)
qty = min(qty, max_qty_from_capital)  # Apply constraint
# Order executes with correct size - no blocking needed

# 1. Capital Manager provides max qty from allocation
if capital_allocation is not None and capital_mgr is not None:
    max_qty_from_capital = capital_mgr.get_max_trade_size(
        allocation=capital_allocation,
        symbol=symbol,
        current_price=price,
        positions=positions_dict
    )
    if max_qty_from_capital <= 0:
        return state, {"skip_reason": "no_capacity"}  # Only skip if truly zero
else:
    max_qty_from_capital = float('inf')

# 2. Risk Manager provides max qty from position limits
if portfolio_risk_mgr is not None:
    max_value_from_risk = portfolio_metrics.total_value * 0.20  # 20% max
    max_qty_from_risk = max_value_from_risk / price
    max_qty_from_capital = min(max_qty_from_capital, max_qty_from_risk)

# 3. GARCH calculates initial size
qty = garch_mgr.calculate_position_size(symbol, account_value, signal_strength, price, returns)

# 4. Apply all constraints
qty = min(qty, max_qty_from_alloc)      # Allocation limit
qty = min(qty, max_qty_from_capital)     # Capital + risk limits
qty = qty * position_scale               # Drawdown scaling

# 5. Execute with correct size
executor.submit(symbol, qty=qty, side=entry_side, type="limit")

Signal Generation → Sizing → Risk Constraints → Execution
      ↓               ↓            ↓              ↓
   Direction      Initial qty   Apply limits   Correct size

Signal Generation → Sizing → Risk Check → BLOCKED!

scripts/live_trader.py:
  - Lines 1375-1391: Capital manager sizing (removed check_trade_allowed)
  - Lines 1393-1411: Risk manager sizing (removed check_position_limits)
  - Lines 1466-1467: Apply max_qty_from_capital constraint