So I'm not a trader, I don't even own individual stocks.
I recently initiated a transfer of assets out of brokerage who required that I liquidate certain positions prior to transfer.
This has presented a unique opportunity for me, to potentially use a trailing stop order to repurchase my positions at the new brokerage. The money is still in transit.
The opportunity: my positions were all sold around a week and half ago, at about 5-6% above current price. So that's great. I could just rebuy into the positions next week, hopefully the market is still down and I could lock in a little profit. But it occurred to me that if the market is down, I could try to ride the market down with a reasonable trailing stop order. My thought would be to set a stop at about 3.5% above the current price (still 1.5-2.5% below what they sold for), and see how far down we can go.
Is this a waste of time, is this outright foolish for someone who doesn't usually trade?
I'm confident in my ability to setup the orders as I've specified, but I'm curious to hear feedback on the strategy itself. If it's relevant, the positions are all popular ETFs, mostly passively managed. e.g. VTI, VEA, VWO, AVUV
Thanks!
Leave a Reply