Seedha jawab
Slippage expected price aur actual average fill ka farq hai; market order screen price par fill ki zamanat nahin.
Kaise kaam karta hai
- Book depth multiple prices par fill deti hai.
- Order size aur volatility impact barhate hain.
- Positive ya negative slippage dono mumkin.
Pakistan / PKR example
PKR 200,000 equivalent order ka 0.2% adverse difference taqreeban PKR 400 impact banata hai.
Kab fail ho sakta hai
- Fast market mein snapshot fill se pehle stale.
- Thin book mein chhota order bhi levels cross kar sakta hai.
Aam ghaltiyan
- Last price ko executable price samajhna.
- Sirf first fill dekhna.
Check list
- Average fill aur expected price save karein.
- Order size ko depth se compare karein.
- Net PnL mein PKR impact add karein.
Expected aur actual fill ka farq
Slippage ko actual average fill price minus decision ya quoted price se measure karein, phir direction ke mutabiq PKR impact nikalein. Partial fills hon to har fill ko quantity-weighted average mein jorein. Market order certainty of execution ko prefer karta hai, price ki guarantee ko nahin. Limit order price control deta hai magar fill miss ya partial ho sakta hai. Dono order types ko sirf fee ke basis par compare na karein; missed trade aur adverse price movement ka record bhi alag rakhein.
Position size aur liquidity
Order book ki top quote chhoti quantity ke liye relevant ho sakti hai, lekin bari order multiple levels consume karti hai. Expected slippage estimate karte waqt visible depth, recent trade size aur volatility dekhein. Book snapshot par yaqini fill nahin milti, kyun ke orders cancel ho sakte hain. PKR se funded account mein coin price ke saath USD ya stablecoin conversion spread bhi total implementation shortfall ka hissa hai. Trade size ko liquidity ke muqablay mein chhota rakhna slippage risk ko reduce kar sakta hai, eliminate nahin.
Slippage log se kya seekhein
Har execution ke liye pair, venue, order type, timestamp, intended quantity, quoted price, average fill, spread aur market condition save karein. Results ko normal, volatile aur low-liquidity sessions mein group karein. Sirf average na dekhein; worst observations aur distribution bhi important hain. Agar backtest fixed tiny slippage use karta hai lekin live tail events baray hain to expected return overstated ho sakta hai. Updated assumptions ko calculators aur risk plan mein use karein, magar future fill ko exact predict karne ka dawa na karein. Limit order miss ho jaye to baad ki poori price move ko cost kehna theek nahin. Pehle se fixed chase rule ya no-chase rule rakhein, phir intended execution aur actual decision ko imandari se compare karein.
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