In a Volatile Market, Is a Trader More Likely to Experience Positive or Negative Slippage?

In a highly volatile market, price changes are rapid and unpredictable. While both positive and negative slippage are possible, a trader using a market order is generally more likely to experience negative slippage.

This is because market orders are often routed to the best available price, but the price may move against the trader in the milliseconds between order submission and execution. The rapid consumption of available liquidity also contributes to a higher chance of negative slippage.