Have you ever experienced the frustration of initiating a trade at a specific price only to witness the order being executed at an entirely different level? This commonplace occurrence in the financial markets is known as slippage. In fact, it's a daily encounter for many day traders and even investors. Slippage can be particularly detrimental to day traders as it has the potential to erode profits or even result in losses. In this article, we will delve into the concept of slippage and explore strategies to mitigate its impact on traders. 

A proper understanding of position trading will allow you to add a powerful strategy to your arsenal for working in any financial market. Before you start trading, you should understand the basic key concepts: what position trading is, how it differs from swing trading, and what its strategy is.