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If Slender Man is just a stationary character that is teleported randomly depending on player position, it actually makes the game easier if you are willing to play slower. Just turn slowly. If you start to see his weird ass arms, you can turn the other way and walk a bit and I bet the game shifts him. It looks like you don't lose if you don't look at him completely. The only reason you are shitting yourself is because of the atmosphere.
The only reason i find slender scary is the same reason i find amnesia dark descent scary. I can't defend my self.