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.