A strategy can be right about the market and still lose money. The culprit is usually execution.

Every trade pays: commission, spread, slippage and the cost of being late. Small numbers — repeated thousands of times a year.

What we do about it:
▪ orders are placed as limit orders and re-priced until filled — never blindly "at market";
▪ we prefer maker fills, where fees are lower;
▪ every morning we compare what the model wanted with what the bot actually did — and investigate every gap.

Most people optimise the signal. Professionals optimise the path from signal to fill.

#trading #execution #crypto