Execution quality: when is your broker the reason your strategy fails?

A strategy can be sound and still lose to execution: wide spreads, slippage, requotes and slow fills each take a cut. Separating strategy problems from broker problems requires measuring both.

How do you tell?

• the execution metrics you track
• how you benchmark your fills
• the strategy you saved or killed after checking execution

The bid, ask and slippage guide defines the metrics.