Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 3 terms
The cumulative effect of brokerage, taxes, spreads and slippage on returns, rising with how often the account is turned over.
An account turned over twice a month pays roughly 6% of capital a year in friction before any question of skill. Choosing a rhythm is choosing a headwind.
The longest of the four trading styles — positions held for years and reviewed around quarterly results.
Cost drag separates the styles more reliably than strategy does. Holding for years means paying friction once, and at the lower long-term rate rather than the short-term one.
Holding for weeks to months based on higher-timeframe structure.
Fewer trades, lower cost drag, and it fits around a job — which is the point.