Category: Execution
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Execution Reality: Slippage, Fees, Funding, and Adverse Selection
In trading, slippage is one of the most underestimated execution risks. Execution is where most strategies go to die. In research, execution is often a parameter. In production, it’s the environment. The same signal can look stable in simulation and become untradeable once you account for spreads widening, fills deteriorating, funding turning against you, and…