Glossary
Terms as SleeveFolio uses them: product meanings first, textbook second.
| Sleeve | Two related meanings: one of the three allocation buckets (equities, crypto, cash), each with a budget orders must respect; also one strategy’s own slice of the account — the portion a strategy in your mix trades and manages on its own, where its stop-loss, caps, and list exits apply only to that slice |
| Strategy mix | The set of strategies your account runs at once, each trading its own percent of your funds; the unallocated remainder is a cash reserve that is never traded |
| Allocation | One strategy’s percent of your funds; the strategy trades only that slice, and the strategy with the largest allocation is your primary strategy |
| Universe | The list of symbols your strategies are allowed to rank and trade |
| Automatic universe management | An optional mode where each strategy in your mix follows a published, rules-based list — its own style by default, or a list you pin per strategy — each list’s agreement reviewed and affirmed once, then maintained daily. Sales of symbols that leave the list run only through the automatic-trading engine and its safeguards |
| Follow list updates | The per-strategy switch on the Universe page, shown while more than one strategy is funded. On, the strategy takes its followed list’s daily adds and removals and buys only from that list plus your hand-added picks; off, it trades your whole universe and its list stops claiming slots |
| Crypto pair | The format crypto trades under: the coin plus the dollar side, written like BTC/USD. Pairs go in your universe just like stock tickers |
| Factor tilt | Weighting a ranking toward measurable characteristics (momentum, low volatility, value, quality) rather than picking stocks by hand |
| Composite score | The weighted blend of a symbol’s factor scores that drives its rank |
| Signal | One ranked symbol from a run, carrying a buy / hold / sell action |
| Paper / Live | Paper trades with real market data but zero real dollars; live trades your actual money at the broker |
| The gate | The Paper → Live safety checkpoint: 2FA enrolled + zero unresolved reconciliation drift |
| Drift | A disagreement between SleeveFolio’s records and the broker’s, found by the recurring reconciliation check |
| Kill switch | The always-available trio: Pause, Cancel open orders, Liquidate |
| Order limits | The three per-order and per-day limits on automated buys set on Risk & Caps: the per-trade dollar cap, the per-day dollar cap, and max trades per day. The Order limits card’s Risk caps switch turns their enforcement off and on; your saved values are kept either way. Position caps, the sector cap, sleeve budgets, the drawdown brake, stop-losses, and the kill switch apply regardless |
| Purchase lot | One buy’s quantity + cost basis (what you paid) + date; positions are stacks of lots |
| Cost basis | What you paid for shares, used to work out profit or loss when you sell |
| Backtest | A trial run of a strategy against past market data: no orders are placed |
| Walk-forward | Backtesting in time-ordered slices, so every result is measured on data the settings never saw |
| Sharpe / Sortino | Risk-adjusted return measures: how much return you earned for the ups and downs you endured (Sortino counts only the downward swings) |
| Max drawdown | The biggest drop from a high point to the low that followed, over a period |
| CAGR | Compound annual growth rate: the smoothed yearly return |
| Estimated cost | The order ticket’s preview of an order’s dollar size — your quantity at the latest price (or, sizing in dollars, the amount you typed), with a chip showing how old that price is. An estimate only: the final cost settles at the price the order fills at |
| Idempotent order | An order tagged with a fixed ID (the client_order_id), so the broker treats any resubmission as the same order, so a retry can never buy twice |
| Tax-loss harvesting (TLH) | Selling a losing lot to realize the loss for tax purposes. The Positions detail marks a holding currently worth less than you paid for it as TLH eligible (a fact, not a recommendation to sell) |
| Wash sale | Buying a security back within 30 days of selling it at a loss (before or after), so the loss can’t be claimed on your taxes that year. The order ticket flags both sides — a buy-back after a loss sale, and a sell at a loss soon after a buy; crypto is exempt |
| DRIP | Dividend reinvestment (using a holding’s dividends to buy more of it). The Positions detail has a DRIP line, but SleeveFolio receives no dividend-reinvestment information from Alpaca, so it currently always reads Off — that isn’t a reading of your broker account’s setting |
| Settings file | One readable JSON file carrying every Risk & Caps, Strategies, and Universe setting, the symbols in your universe included, exported from Settings → Account or a tab and imported through a review that shows every change first; enough to restore your setup on a new account. An import never changes Auto-execute or Follow list updates (the file carries both; you switch them yourself), and the file never carries the kill switch, list agreements, or broker keys |