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You place (or close) an order at a certain price. Your broker fills your order at a worse price (the price "slips") and blames it on fast moving market conditions. Some brokers do this and only hit you for a few pips. Others will burn you for 20, 30, or even more.

Articles in Forex Traders Glossary
There are 111 articles in Forex Traders Glossary.
A After spike Aussie B Base Currency Basis Points Bearish BoE bow BRIC Bucket Shop Bullish Buy Limit Buy Stop C Cable Candles Churning Conflicting Releases Consolidation CPI Currency Codes Table D Deflation Deviation Dovish E EA ECB Elliott Wave EMA Expectation/Expected F Fed Fib Fiber Fibonacci Numbers Fibonacci Ratios Fibonacci Retracements Fibonacci Timeframes FOMC Forty-two G G20	G (cont.) G7 G8 GDP GU GY H Hawkish HYIP Hyperinflation I Inflation Islamic Account K Kiwi L Liquidity Loonie Lot Size LPOA M m/m Market Maker Market Order Martingale Microlot Minilot Moving Average MT4 MT5 N Nanolot NFP No Riba Account O OCO OHLC P Pending Order Ponzi Scheme PPI Pre-release Profit Target Pulling the trigger Q q/q	Q (cont.) Quote Currency R RBA RBNZ Recession Requote Resistance Retrace Revision S Scalping Sell Limit Sell Stop Slippage SMA SNB Spike Standard Lot Sterling Stop hunting Stop loss Stopped out Stops Straddle Support Swap Free Account Swap Rates swing high swing low Swissy T Take Profit Trading Platform Trailing Stop Trigger V Volatility W Whipsaw Y y/y Yard Z ZEW