No. of Recommendations: 3
FC “If they've since improved it with the ability to set up and save a new basket outside of trading hours I would try it again.”
Yes you can set up a basket ahead of time outside of trading hours. Fidelity allows you to create, edit, and save baskets as drafts while the market is closed.
https://www.fidelity.com/direct-indexing/customize...I’ve also been looking at using basket orders. Fidelity evidently has been improving the basket features. The unanswered question for me is how efficient (slippage) the trades would be for a frequently traded screen. One post said they use market orders which Fidelity is pretty efficient for ETFs and Large Caps but not for lightly traded equities. I tried searching some websites for user posts mentioning their results but couldn’t find any.
Might be best to try using the basket for most trades to minimize the task but set aside orders with % of MDDV > 5% and manually use VWAP, > 10% use VWAP over 2 days.
