# Max slippage or cancel

Write a max slippage / worst acceptable fill before place — if the print would breach it, cancel rather than chase. Pair with no-market-order-without-go, reject-agent-place-without-quote, never-skip-review-before-place, size-from-sleeve-not-from-hope, confirm-cancel-in-broker-not-chat. Agent Lane does not place trades, hold wallets, or invent broker UI.

Canonical HTML: https://agentlane.net/guides/max-slippage-or-cancel/

## Answer first

Before a live place: write the worst fill you will accept (max slippage vs the fresh quote or your limit). If the live print would breach that bound, cancel or skip — do not chase with a wider marketable ticket. Size still comes from sleeve rules; order type still needs its own GO when marketable; the human still runs review before place; cancels are confirmed in the broker, not chat.

## Max slippage or cancel in plain terms

1. **Write the bound before place** — reference price + max adverse move (ticks, cents, or %); cancel/skip if breached.
2. **Not hope pricing** — “get me filled somehow” is not a max slippage.
3. **Same review step** — bound + [reject-agent-place-without-quote.md](./reject-agent-place-without-quote.md) + [size-from-sleeve-not-from-hope.md](./size-from-sleeve-not-from-hope.md) + order type under [no-market-order-without-go.md](./no-market-order-without-go.md).
4. **Breach → cancel** — do not chase; verify cancel in [confirm-cancel-in-broker-not-chat.md](./confirm-cancel-in-broker-not-chat.md).
5. **Gate at review** — enforce at [never-skip-review-before-place.md](./never-skip-review-before-place.md).

## Why chasing after a breach is the failure mode

- **Gap fills** — [no-market-order-without-go.md](./no-market-order-without-go.md), [reject-agent-place-without-quote.md](./reject-agent-place-without-quote.md).
- **Size still “fits”** — [size-from-sleeve-not-from-hope.md](./size-from-sleeve-not-from-hope.md), [one-risk-unit-per-idea.md](./one-risk-unit-per-idea.md).
- **Chat said cancel** — [confirm-cancel-in-broker-not-chat.md](./confirm-cancel-in-broker-not-chat.md).
- **Urgency skips the card** — [never-skip-review-before-place.md](./never-skip-review-before-place.md).

## Shield stack

1. [read-only-quote-before-trade-connector.md](./read-only-quote-before-trade-connector.md) — prove prices before place rights.
2. [size-from-sleeve-not-from-hope.md](./size-from-sleeve-not-from-hope.md) — written ticket size rules.
3. [confirm-buying-power-before-place.md](./confirm-buying-power-before-place.md) — venue cash/BP covers that ticket.
4. [reject-agent-place-without-quote.md](./reject-agent-place-without-quote.md) — price freshness in the same review step.
5. [no-market-order-without-go.md](./no-market-order-without-go.md) — order-type GO; default limit/last-look.
6. Max slippage or cancel (this page) — fill-quality bound; breach means cancel, not chase.
7. [never-skip-review-before-place.md](./never-skip-review-before-place.md) — human gate enforces the check.
8. [confirm-cancel-in-broker-not-chat.md](./confirm-cancel-in-broker-not-chat.md) — verify cancel/flat in the venue UI.

## How to run max slippage or cancel

1. Write max slippage before place — [name-the-strategy-before-connect.md](./name-the-strategy-before-connect.md); no invented UI.
2. Same review step as quote, size, and order type — [reject-agent-place-without-quote.md](./reject-agent-place-without-quote.md), [size-from-sleeve-not-from-hope.md](./size-from-sleeve-not-from-hope.md), [no-market-order-without-go.md](./no-market-order-without-go.md), [confirm-buying-power-before-place.md](./confirm-buying-power-before-place.md); large tickets: [two-person-rule-for-large-places.md](./two-person-rule-for-large-places.md).
3. Compare live print to the bound — cancel or skip if breached; do not chase.
4. Cancel in the venue UI; confirm afterward — [confirm-cancel-in-broker-not-chat.md](./confirm-cancel-in-broker-not-chat.md).
5. Place only after human review when inside the bound — [never-skip-review-before-place.md](./never-skip-review-before-place.md), [confirm-fills-in-broker-not-chat.md](./confirm-fills-in-broker-not-chat.md); first live after novelty: [dry-run-before-first-live-place.md](./dry-run-before-first-live-place.md).
6. Journal overrides that chase past the bound — [journal-every-override.md](./journal-every-override.md), [revoke-before-debug.md](./revoke-before-debug.md).

## Practical checklist

- Max slippage / worst fill written before approve (reference + bound + cancel-if-breach).
- Fresh quote + size + order-type GO + BP in the same review step.
- Breach → cancel or skip — no “widen / market to chase.”
- Cancel confirmed in broker UI — not chat.
- Review before place still on — human enforces the gate.
- Chat urgency is not a bound.
- Confirm fills afterward when a place does go through.
- Dry run done before first live with a new connector/strategy.
- Overrides journaled if anyone chased past max slippage.
- Official paths only — no invented broker UI.

Related: [One cancel, one confirm](./one-cancel-one-confirm.md), [No chase after partial fill](./no-chase-after-partial-fill.md), [no-market-order-without-go.md](./no-market-order-without-go.md), [reject-agent-place-without-quote.md](./reject-agent-place-without-quote.md), [never-skip-review-before-place.md](./never-skip-review-before-place.md), [size-from-sleeve-not-from-hope.md](./size-from-sleeve-not-from-hope.md), [confirm-cancel-in-broker-not-chat.md](./confirm-cancel-in-broker-not-chat.md), [confirm-buying-power-before-place.md](./confirm-buying-power-before-place.md), [confirm-fills-in-broker-not-chat.md](./confirm-fills-in-broker-not-chat.md), [read-only-quote-before-trade-connector.md](./read-only-quote-before-trade-connector.md), [dry-run-before-first-live-place.md](./dry-run-before-first-live-place.md), [one-risk-unit-per-idea.md](./one-risk-unit-per-idea.md), [two-person-rule-for-large-places.md](./two-person-rule-for-large-places.md), [journal-every-override.md](./journal-every-override.md).

## FAQ

**What does max slippage or cancel mean?**
Before you place, write the worst fill you will accept (max slippage vs the fresh quote or limit). If the live print would breach that bound, cancel or skip rather than chase. Pair with no-market-order-without-go, reject-agent-place-without-quote, never-skip-review-before-place, size-from-sleeve-not-from-hope, confirm-cancel-in-broker-not-chat.

**Do I invent a slippage or cancel broker UI?**
No. Official venue order ticket, quote/last-look, and cancel screens and your written sleeve rules. Agent Lane does not invent UI or read your broker for you.

**Does this replace no market order without GO or reject without quote?**
No. Reject without quote is price freshness; no market order without GO is order-type; size from sleeve is ticket size; this page is the fill-quality bound (worst acceptable fill written; breach means cancel, not chase); confirm-cancel verifies the cancel stuck; never-skip-review is the human ticket gate. You need the stack.

## Sources

- Canonical HTML: https://agentlane.net/guides/max-slippage-or-cancel/
- Related shelf: https://agentlane.net/resources/
- Site index: https://agentlane.net/llms.txt

Agent Lane publishes checklists. We do not place trades, hold wallets, invent broker UI, or read your order tickets.