Slider can't be fully open in flight at speed. You need removable forward pins on sliders. When we say bailout, we are taking round emergency chutes for glider/sport/aerobatic/warbird pilots, round emergency chutes, not the skydiving square parachutes you can steer and flare. FORGET THAT. The latter requires real training. The round emergency chute needs little training, because it has slow forward speed and can't stall it, but even emergency round chutes do need some forethought....
This sounds obvious but you need a chute to bailout. Many people own emergency chutes and leave it in the hanger. They get them and don't use them. Chutes are kind of heavy, little bulky, not super comfortable to sit on (compared to that custom upholstery with temper foam). I wore my chute in my RV-4 only when I planned to do aerobatics. However I read of accidents involving catastrophic fire, the pilot perished, their chute sitting in hanger would have saved their life. I started wearing it all the time.
I sat in on Allen Silver's Seminar at Oshkosh about 20 years ago on Emergency Chute for Sport and War Bird Pilots (non jumpers)... There were so many things I learned I never considered. You need to practice and think about it on the ground and repeat mental pre-brief, so when it happens you are ready. This is Allen's page. (If you get a chance to hear him talk do it.)
Allen is Mr. Parachute. He has packed 40,000 chutes and is well known in the parachuting hobby, especially in California. Not saying you need to do an actual jump but consider:
A) Recognize need for bailout
B) What do I do
C) How do I do it
D) Physically doing it
1) Can you get in and out of plane on the ground with chute on? (PRACTICE) Many pilots take seat belt off and then chute and leave chute in airplane seat (typically a thin back pack type). You can do that but practice getting in and out with chute on time to time. Also practice pulling your head-set off or and doing dry runs. Also learn how to put it on properly and learn how to get out of it fast, like making quick releases from how you route straps in the buckles. There are quick releases you can buy, but it cost more. I had a Paraphernalia SOFTIE regular backpack (the shell) with a military 28' chute (C-9). It was good for 250 lbs and 180 mph (more than terminal velocity). This was more chute than needed but got a good price on it. The Para-Phernalia, Inc Mini-Softie or Micro-Softie is a good choice with 24' chute... This is thinner, lighter than my rig. The prices have are not cheap. Expect to pay north of $2000.
2) How high do you need to be. If plane is going straight down at 200 mph at the ground and you depart plane, you will need thousands of feet AGL. If you are level or slightly climbing upright at 1000 feet AGL you can get out and survive. It is the arch of trajectory. The FAR's specify max time for a chute to fully deploy is 3 seconds which is 300-400 feet if you are starting at zero vertical velocity. However practically if we are free fall speed already, we are talking 600-1200 feet. So if you lose an engine at take off and not at pattern altitude level...a jump = bad things. With that said see #3 next...
3) Do you stabilize and then pull D Ring? No get out and pull. You are not a sky diver, no time to "stabilize". Jump and pull. Do it. Don't delay.
4) Practice with ground simulation pulling D-ring with BOTH hands together... You never know you may break an arm. When I had my chute repacked they let me pull the handle and pop the drone chute. A spring launches it out the back. The D-ring is under velcro flap btw.
5) There is little to no steering with emergency chute, but you should know where the WINDS are coming from and turn into the wind ideally. (Forget a sport parachute, that takes a lot of training, practice and signoff... it is not for amateur).
6) Land feet together knees bent... and roll. You will be coming down at a pretty good clip with a small emergency chute.... it's like jumping off the roof of full sized SUV or truck...
7) If you don't have quick release chute harness there is a way to route the straps through the buckles so you can pull on the end and release them, so if you get on the ground and dragged by winds you can get out of chute.
8) Have your cell phone or SPOT on your person and secured (strapped to your body or Velcro closed pocket). You may end up hurt, in a tree. You need to alert people where to come get you.
Just be aware.... and give it some pre-thought and then go through practice drills often... Also remember you can't legally do dual aerobatics unless you both have a chute (with exceptions). Solo you do not need a chute.