Don't do it bro. The Fed will 'rescue' again...just as the ECB will rescue Europe. The added debt will be paid by you and me...the inflation will be paid by all.
Everyone expects capitulation, the Fed laughs and cranks up the printing press. As long as central banks exist and governments are corrupt, the market will not crash. The only chance is when a rouge bank or country says they won't play. Then the and only then will the snowball head down hill...until then, the Fed and corrupt politicians have the ball in their court.
Call your broker and tell them you want to undo your trade. This is a little known fact, but the consumer protection laws allow you to reverse your transaction within three days. You got lucky this time because FAZ is on its way back up for today. You're welcome....
Is that for an 'out of market' trade or is this something no one knows about?
An 'out of market' trade is where the trade price is too far away from bid/ask price and the trade can be busted. But if what you say is true, everyone could trade and simply watch their trade for a few days and reverse it if it went against them...in other words, you can't lose.
I think you are referring to an 'out of market' trade that is so often busted. I don't think it applies in this case.