I01
Fees are a frequency problem, not a size problem
A round trip costs roughly 4–5% on a 1% platform, 1% LP coin. Ten trades a day is not ten chances to be right; it is a 40% headwind you have to beat before anything else. Cutting trade count is the only lever that moves it, because the percentage does not care how big the trade was.
I02
Liquidity is an exit problem
Buying 1 SOL into a $3k pool is roughly 6.7% impact. Selling it back is another. Entry size should be set by the exit you will need, not the conviction you feel at the top of the candle — and the impact you pay on the way out is calculated against a pool that your own buy already moved.
I03
Underpaying priority has a price, and it is not zero
A reverted transaction still costs the network fee, the priority fee and the tip. During a fast move, saving on priority is usually the most expensive saving available: you pay for the attempt, miss the entry, and pay again on the retry at a worse price.
I04
Unrealised is not realised
A bag up 3× is up 3× minus the impact of actually selling it. On a thin pool those are not close to the same number. This is why the panel shows the mark-to-market value and the realised figure separately rather than blending them into one comforting total.
I05
The first minute is where the aggregators are blind
REST aggregators do not index a launch for tens of seconds. Anything that waits for them is late by definition, which is why Ghostbag reads the terminal’s own tick and subscribes to pump.fun trades directly from chain.