BDS / Intraday usability
Spread, Slippage and Fees in an Intraday Signal Comparison
Short reference distances make execution assumptions important. Compare them explicitly without inventing a net subscriber return.
Name the price convention
A chart midpoint, bid, ask, last trade and actual fill are different objects. State which one the instruction or replay uses. The last displayed price is not proof of the price at which an order was filled.
Keep the price source and time with the observation. A later screenshot cannot alone establish the quote available after receipt. The relevant product and broker terms determine the actual execution boundary.
Separate costs already in prices
An actual fill comparison may already contain part of the spread or price movement. Do not add the same difference again under a separate label. List fees and additional assumptions only where they are not already represented.
For a hypothetical example, make each input editable and identify the unit. A per-share teaching amount cannot silently become a futures-contract or currency-lot cost. This tool uses generic price units, not an instrument-specific account model.
Worked before-cost comparison
Invented long example: reference entry 50.00, stop 49.75, target 50.50. The distances are 0.25 risk and 0.50 reward per unit, or 2R before costs. An assumed adverse entry movement of 0.10 creates entry 50.10, distance 0.35 to the same stop and 0.40 to the same target, about 1.14R.
Neither ratio guarantees an exit price or a probability. They describe fixed reference geometry only. The original instruction may be expired or unsuitable before the arithmetic is relevant.
Add a stated cost assumption
With an invented additional round-trip cost of 0.02 per unit not already embedded in those levels, the delayed planned loss becomes 0.37 and planned reward 0.38. Their ratio is about 1.03 under the example. No provider was measured and no actual trade is represented.
A different cost assumption changes the comparison. Keep unknown charges unresolved instead of entering zero to make a result attractive. The worksheet does not forecast profit or choose a position size.
Keep partial quantities and repeated activity
Repeated operations can create costs that an isolated signal percentage does not describe. Partial fills and exits need the corresponding quantities and charges. Concurrent exposure also changes the account interpretation.
Do not turn a gross instruction sum into a net portfolio curve by subtracting a generic fee. The account requires its own funding, operation and cost records.
Use the comparison as a question
The output asks whether the stated execution assumptions materially change the reference setup. It is not a recommendation to accept a particular ratio, trade more often or increase risk to cover a subscription.
Confirm actual broker and product costs separately. Public documentation and hypothetical arithmetic can support an inspectable framework while real subscriber results remain untested.
Short-side symmetry
The hypothetical tool can also examine a short reference setup. An assumed adverse higher or lower entry is interpreted according to direction while the original stop and target remain fixed. This is distance arithmetic, not a live execution engine. The tool rejects inconsistent level ordering rather than producing a convincing ratio from invalid assumptions.
Do not infer a probability from reward-to-risk
A reference ratio describes distances and the cost assumption. It does not state how often a target or stop occurs, how either executes or whether the instruction is still valid. A larger displayed ratio is not proof of an advantage. Keep population, outcome policy and actual account evidence outside this teaching calculation.
A subscription is another cost object
Access charges buy the information or software workflow; trading charges attach to operations. Do not force a future-return estimate to offset the subscription. The product can be evaluated on observed usefulness and the complete recurring commitment even when no defensible net account result is available.
Evidence Packet
| Evidence object | Record to retain |
|---|---|
| Price basis | Reference, quote or actual fill |
| Cost basis | Additional components without double counting |
| Account boundary | Quantity, operations and funding where actual |
Related Session Questions
Primary References
The sources support documented mechanisms and source definitions. Our procedure and teaching examples are not completed paid-feed, latency or account tests.