The other day when BHP dropped 80c it dropped right through both my trigger and my sell limit so none actually got sold. It's now 60c below what I wanted to sell at. It's annoying, because I thought the stop loss would help me sleep at night, but no! Because Cosec (or rather ASIC) wont allow you to set a wide enough margin between your trigger price and your price limit, in a mini crash, prices will fall right through both, leaving you exposed to further falls. Why are the margins allowed less than one percent? Any way to protect myself from this in future? Any way to guarantee a sell after it falls below a nominated price?
Back to my predicament, if I don't cancel the sell order, then when BHP rises back through my target range, it will sell, just when I probably wouldn't want to as I'd expect it to go higher still (if there's momentum). So I think I'll cancel the sell order. What do you guys usually do in this case?