No. of Recommendations: 1
I think I lose about 1% a year to slippage. Mostly the bid/ask spread during the day.

One of the system designers on P123 had claimed a negative slippage when actually trading several of his methods, because he often placed limit orders AFTER the open.

When it comes right down to it, the most basic definition of slippage/friction is really just the ability to trade at the opening price.
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