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What is Slippage?

Basics

슬리피지

The difference between the price at which an order was placed and the price at which it was actually filled. When the order is larger than the quantity quoted, or when the market moves fast, the fill is pushed to the next price level. It becomes especially large in thinly traded instruments and sharp moves, and it is the main reason why calculated results and real results diverge.

Slippageordered priceactual fill pricethis gap is the cost

Lessons using this term (with diagrams)

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Slippage meaning — Trading glossary | MarketSurfer