Conviction doesn’t have to arrive in one market order. One feature worth discussing on @OndoPerps is TWAP: spreading an order across time instead of trying to execute the entire size at once. I like the distinction it forces between two decisions: wanting a position and needing all of it immediately. Breaking up execution can reduce the impact of a large order. The tradeoff is that the market can move away while the remaining size waits. A slower entry can end up costing more. That makes TWAP useful for expressing patience, without guaranteeing a better price. For me, the interesting question is how much urgency the thesis actually requires. Being confident about direction doesn’t automatically justify paying for immediate execution.