Order types and slippage: why your stop isn't a promise
A market order fills right away at the best available price, a limit order fills only at your price or better, and a stop order becomes a market order once price touches it. That last part is why stops slip: in a fast market a stop-market order fills at the next available price, which can be several ticks beyond your stop.
The four you'll use
| Order | What it does | Risk |
|---|---|---|
| Market | fills now at the best available price | you can get a worse price than the last trade in a fast market |
| Limit | fills at your price or better, or not at all | you can miss the trade |
| Stop-market | becomes a market order when price touches the stop | fills can slip past your stop |
| Stop-limit | becomes a limit order when price touches the stop | in a fast move it may not fill, leaving you in the trade |
Why slippage matters more in an eval
Your daily loss limit and trailing drawdown don't care about the price you wanted. They care about the price you got. Plan a stop that loses $480 on a $500 daily limit, slip three ticks on MES across four contracts ($15), and you're at $495. Slip on ES and three ticks across one contract is $37.50. Size with room for slippage, not to the dollar.
Stop-limit isn't a fix
A stop-limit avoids a bad fill by not filling at all. In a fast drop through your level, you can end up still holding the position with no stop working. In an eval that's the worse outcome: the open loss keeps counting against your floor in real time.
Where slippage is worst
Around scheduled news, at the open, and on thin contracts. Check whether your firm restricts trading around news; some do on funded accounts.
How the simulator handles fills
FundedSim doesn't have an exchange order book. You log the fill you actually got, or trade on the live chart at the current price. That means it can't invent slippage for you. Add a tick or two to your logged stop fills in practice and you'll see your real numbers sooner.
Blow it here, not on a paid eval
Run the same rules on your own trades in the simulator. Free, no card, and a blown account costs you nothing but pride.
Start practicing