Definition
Slippage
The gap between your intended price and the actual fill — largest around news spikes and market opens.
Stops are not guarantees: in a fast market the fill lands where liquidity allows. A stop 'through' a CPI spike can exceed your intended loss several times over — and drawdown rules count the real loss.
This mechanical risk is the core reason firms restrict news-window trading on funded accounts.
Related terms
General industry definitions — individual firms define terms differently in their own ToS; the decoded rulebook for each firm is the source of truth. Educational, not financial advice.