Few days back one of my SLM order was cancelled as soon as it hit the trigger price, I then after some time manually existed my position at higher losses. I raised this issue with my broker but broker says you order was rejected by exchange with error “price out of execution range” and we (as a broker) have nothing to do with this. The case is now closed.
This clearly means that any SLM order that we place can be rejected and if the investor is not actively tracking the price, may blow up his account, how the investor or trader is protected in such a case ?
Only way to cover all cases is to actively track the markets at least when one is using leverage or doing intraday trades. Investors are covered even if they misses these kind of outliers, but leverage traders should be more alert.
As in above case when order was rejected due to “outside of price range” one can’t do anything except to wait and place the order again after price circuit is released.