Volatility:
Volatility is a statistical measure of the spread of a financial instrument's or market index's returns. It is a measure of how much an asset's price fluctuates over a given time period. A high-volatility asset has a price that moves quickly, whereas a low-volatility asset has a price that moves slowly. Volatility is typically expressed as a percentage or a number, and it is calculable using historical data. Volatility is used by traders as a risk management tool, and their trading strategies are adjusted based on the level of volatility in the market.
Slippage:
Slippage is the difference between a trade's expected price and the actual price at which it is executed. It usually happens when there is a significant change in market conditions between when the trade is placed and when it is executed. Slippage can occur for a variety of reasons, including a lack of liquidity, high volatility, and delays in trade execution. Depending on the direction of the price movement, slippage can be positive or negative. Positive slippage occurs when a trade is executed at a higher price than anticipated, whereas negative slippage occurs when a trade is executed at a lower price than anticipated.
Gap:
A gap is defined as a sudden increase in the price of an asset that creates a space or "gap" between two consecutive trading sessions. It occurs when the price of an asset opens significantly higher or lower than its previous session's closing price. Gaps can occur for a number of reasons, such as market news, economic data releases, or unexpected events. There are four types of gaps: common, breakaway, runaway, and exhaustion. The most common gaps are those that occur in normal market conditions. Breakaway gaps appear at the start of a trend, whereas runaway gaps appear in the middle of a trend. Exhaustion gaps appear at the end of a trend, indicating a possible price reversal in an asset.