I've just opened an account at CMC using marketmaker. I'm wondering how secure is a stop loss order (which are free to place right?).
For instance, I work a 9-5 job so I would put in a trade early in the morning with a stop loss order incase something went wrong and then come home to see how it all went. If the stock went bad I am hoping that I would be automatically out of the trade at the stop loss I put in.
Is this how it works? I'm guessing a guaranteed stop loss is exactly that, guaranteed. Does that mean if a normal stop loss order misses the price I put in, it cancels my stop loss order automatically? Or does it go to the next best (lower) price? What happens exactly?
I haven't placed a trade before so I guess I am rather new so the demo account you start with will be very beneficial for me.
Thanks in advance.