# Grid Trader

Passive, structure-based liquidity strategy.

## Best used when
- price is range-bound or choppy
- volatility is low to moderate
- liquidity is decent
- Hermes wants to harvest mean reversion inside a structure

## Avoid when
- trend is strong and persistent
- event risk is high
- liquidity is thin or chaotic
- execution quality is poor

## Core parameters
- `grid_levels`: number of orders per side
- `grid_step_pct`: base spacing between levels before inventory skew is applied
- `inventory_rebalance_step_factor`: max fractional reduction applied to the rebalance side's step when the wallet is imbalanced
- `recenter_pct`: when to rebuild the grid
- `volatility_timeframe`: timeframe used for adaptive sizing
- `order_notional_quote`: quote-currency notional target per order
- `max_order_notional_quote`: optional quote-currency cap per order

## Hermes policy mapping
- `risk_posture` adjusts grid spacing, levels, and recentering
- `priority` adjusts aggressiveness and order cadence

## Notes
- The strategy does not decide regime fit itself.
- Hermes decides activation.
- Trader applies policy on reconcile.
- `report().supervision` is descriptive, not imperative.
- `side_capacity` and `inventory_pressure` describe the grid's current shape.
- The grid step is now asymmetric when inventory drifts away from balance.
- If base value dominates quote value, the sell ladder is tightened to encourage rebalancing back into quote.
- If quote value dominates base value, the buy ladder is tightened to encourage rebalancing back into base.
- `inventory_rebalance_step_factor` is a cap, not a fixed override: small imbalances apply a small reduction and extreme imbalances apply up to the configured maximum reduction on the favored side only.
- `report()` and `render()` expose the live base step plus the effective buy/sell step split and current rebalance bias.
- ordinary directional conditions alone should not force a rebuild or switch.
- live fee rates are used directly, and the quote notional is the canonical sizing unit.
- quote sizing now flows through the shared strategy sizing helper, so grid and directional strategies use the same fee-aware notional rules.