The financial impact of slippage is greatest on smaller accounts, largely because the dollar value is also larger in percentage terms.
It’s also killing the day traders who are trying to scalp for $200 / day and not doing it.
Not only are they not making the $200 / day, but those frequent losses are increased by 25% when you add in the slippage.
If the duration of the losing streak is several weeks, the trader could be down $2,000 on his trading P&L, but down $2,500 on his account.
The feeling of not wanting to stop the carnage and bull through it would be an excellent choice for an entry point during one’s Trading Tribe meeting. :)