Hello,
I would like the functionality to place a sell order for a specific date and time of day as opposed to a price limit.
It would make sense for tax purposes for example (if you need to hold your positions for at least a given amount of time), or for whoever uses the “magic formula”.
Thanks
I don’t know much about the magic formula but it does seem a strange trading strategy to exit a position purely based on time. It isn’t something I would use. Have you been using this strategy and have you found it successful?
I have perosnally never used it, but the book where it comes from “The little book that beats the market” is very well written, and although I wouldn’t base a large percentage of my portfolio on that, I think it’s interesting to try with a small portion.
Apart from the formula, the book is a very nice (and easy) read.
…but for me, the possibility to sell something as the soonest possible date (without incurring in unnecessary high taxes) goes beyond the magic formula investing idea.
I’d err on the side of caution with anything you read from a mass produced book.
Just saying.
Maybe try it on a practice demo account first.
Times like this are risky enough, trying out a new strategy might be a bad move. 