Have a question about your personal investments? No matter how simple or complex, you can ask it here.
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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.
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.
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.
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!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.
cap396: good to know for future reference that you traded before opening with no problems.