# Plan the First Ninety Days in a New Trading Market You are asked to lead research for a new market such as crypto. Present a three-month plan from data validation through factor research and a go/no-go recommendation. ### Constraints & Assumptions - No performance claim may precede out-of-sample evidence. - Market-specific microstructure may differ from existing markets. ### Clarifying Questions to Ask - What instruments, horizon, and constraints apply? - What data and execution access already exist? ### What a Strong Answer Covers - Milestones, data quality, hypotheses, backtests, costs, risk, and decision gates. ### Follow-up Questions - Why might an order-book factor fail only here? - What would stop the project early?