buy and sell (TLH) before opening

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blackburnian
Posts: 76
Joined: Thu May 04, 2017 12:40 pm

buy and sell (TLH) before opening

Post by blackburnian » Thu Oct 11, 2018 5:52 am

I want to sell an international ETF today and buy another one for tax loss harvesting. But I will be busy all day, after the market opens. Is there anything wrong with submitting orders before opening? I know there have been discussions on here about the opening cross price, but I am just wondering whether there is anything I should be concerned about. Thanks.

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randomizer
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Re: buy and sell (TLH) before opening

Post by randomizer » Thu Oct 11, 2018 6:43 am

I wouldn't trade an ETF without being physical "present". But I'm scared of ETFs (I've only bought twice and sold twice, IIRC).
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livesoft
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Re: buy and sell (TLH) before opening

Post by livesoft » Thu Oct 11, 2018 6:48 am

The main concern is that you don't know what prices you will sell and buy at. And if you don't know the price to buy, then you cannot set the number of shares to buy given an unknown amount of dollars to buy with, but maybe you have figured something out.
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blackburnian
Posts: 76
Joined: Thu May 04, 2017 12:40 pm

Re: buy and sell (TLH) before opening

Post by blackburnian » Thu Oct 11, 2018 8:23 am

Thanks for quick replies. I was planning to estimate amounts. But I think I will hold off and assume that my loss will not evaporate today.

livesoft
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Re: buy and sell (TLH) before opening

Post by livesoft » Thu Oct 11, 2018 8:25 am

Geez, it's only 6 minutes to the market open, so if you had time to post on bogleheads.org, then you have time to make these trades. :)
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cap396
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Re: buy and sell (TLH) before opening

Post by cap396 » Thu Oct 11, 2018 10:00 am

I posted a similar question awhile back and was warned against doing this. But I had no choice (was traveling during market hours with no internet access), so I did it anyway, and had no problem. I have made more orders before market open since (SCHA and SCHF) and have had no problems at least with those two ETFs - the trades took place at the opening price.

blackburnian
Posts: 76
Joined: Thu May 04, 2017 12:40 pm

Re: buy and sell (TLH) before opening

Post by blackburnian » Fri Oct 12, 2018 1:04 pm

livesoft » Thu Oct 11, 2018 9:25 am

Geez, it's only 6 minutes to the market open, so if you had time to post on bogleheads.org, then you have time to make these trades. :)
I had a meeting at 9:30. It was delayed, so I made the trade just after opening. Now I already have another $1,000 of losses to harvest! :?

cap396: good to know for future reference that you traded before opening with no problems.

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