I'm currently located in Canada, trying to offload a few hundred mutual fund shares. But in the current market the price fluctuates about 5% per day. My bank requires that same day orders are placed before 3:45pm. my banks only option to sell shares is to choose either a certain amount of "money" you want to sell or to choose a number of "units". I only want to execute a trade order if the NAV is above a certain price. The only solution that comes to mind is to put in a sale order daily for a price that is my desired NAV multiplied by the number of "units" I hold.
But there are two issues with this. Firstly the bank calls me with every failed trade, so I would be getting called daily. Secondly this would mean that I would have to sell all of my "units" of this fund which is something I do not want to do.
You will have to estimate the value based on a similar ETF that is trading frequently.
You have a Canadian stock index MF and you will only sell if the price is up 1% from yesterday's price.
At 3:45 pm look at the price for XIC (an active cdn stock index etf) on the internet (it's 15 minutes delayed so it's actually the 3:30 pm price).
If it seems like your price change of up 1% will be met, then sell however many units you want.
note, I'm saying price change from the previous day to hopefully smooth out any NAV errors in the ETF. MFs always trade at NAV(net asset value) but ETFs will trade at the market price which can be off from the underlying NAV. This has been a problem for many bond funds recently.
note2, This is not how mutual funds are meant to work. You just buy and hold and sell as needed. They are not trading instruments.