Most AI trading systems lack hard risk controls, learning loops, and transparent rejection reasoning. The Alpaca Trading Committee separates AI analysis from deterministic risk: four LLM analysts feed a debate agent that creates one trade proposal, while an eight-rule Risk Governor independently approves or rejects it before Alpaca execution. Every rejection is stored and evaluated counterfactually; every executed trade is fully journaled. These feedback loops reveal patterns, improve future decisions, and make the system auditable. The Risk Governor enforces confidence, return, drawdown, position, sector, total exposure, direction, and position-cap limits without AI override.
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