Since I still hadn’t bought VWRL with the money I was supposed to invest in March (a baby came along which “messed up” the plan) I decided to throw the money at the fund asap. Well, not too soon. The hubby also needs to invest his budget for this month. Oh, and it’s almost May…which means it’ll be my turn again! Oh dear…
Anyway, at this moment VWRL is a bit pricey at €49.somethingish. I’d like to buy at €48.somethingish. I know, I know…market timing…a big no no. The hubby and I can’t seem to kick the habit. However, turns out the stocks have hit €48 and below in the past three months. When I purchased my first order I just paid whatever the price was at that moment. I also saw other options when I ordered these stocks, but I didn’t pay attention to them. I started to think about these options and figured out I might be able to place an order for a certain price without having to pay attention to what the stock market is doing. I went back to my BinckBank interface today and made a phone call.
I explained my plan and I was dead right about the possibilities. Turns out I can place in an order for a certain price. I can choose between an order which will be valid for one day or for one month. I chose the latter one. So, I placed an order for a certain amount of VWRL stocks at €48,50. If that amount of VWRL stocks become available at that price or less in the upcoming month I will have bought them at that price. Yay!
I love my new strategy. It means I can automate these bigger purchases. At the beginning of each month we’ll wire a big pile of money to our stock accounts with BinckBank (to me in uneven months and to the husband in even months). When the money is added to this account we’ll place an order as described above. This way we won’t have to keep an eye on what the stocks are worth on any given day.
What do you think of this new strategy?