Orders

Slippage

The difference between expected and actual fill price.

Slippage is the gap between the price you expected and the price at which a trade actually filled. It occurs with market orders — and with stop orders, which become market orders once triggered — in fast or thin markets.

It can work for or against you, but it is most painful when a stop fills worse than its set level. Trading liquid pairs during active hours and avoiding scheduled news are the ordinary defences.

Taught in these lessons

Market orders vs limit orders — Forex Foundations
Order types in practice — Charts & Execution
Backtesting honestly — Strategy & The Journal