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So is it better to leave your laptop plugged in most of the time with letting it drain occassionally to keep the load cycles lower? I tend to do the opposite and let it drain daily.
 
Not necessarily. Battery performance depends on several things. Apple recommends that you "keep the electrons moving". The battery system is ideally designed for a commuter type situation: run on battery for a few times a week and recalibrate every two months. If you leave your MacBook plugged in all the time then you should recalibrate once a month.

Its a balance between load cycles and battery-only usage.

If you completely drain daily, your battery will probably last 18 months or about 500 load cycles before it drops below 50% capacity.
 
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