Lets assume MSFT is at 110 today and there is some negative sentiment in the market (say due to some additional tariffs on US by China).
A safe assumption is that MSFT may go down today (...assuming there are no good news in MSFT or TECH. It may go down tomorrow too but I am taking my chances to buy a small position... say 25 shares).
However I would want this to execute at the best possible price today. (...at least try to :D)
To achieve this, I want the opposite of a "trailing stop". i.e. I set the stop as say 0.5%. As the stock goes down, my target buy price continues going down and during a reversal... if it comes up more than 0.5%, I want to place a limit/market order and accumulate the shares at that price.
Is there some kind of order that can help me achieve this? It seems to be a basic requirement but unfortunately I am lost.
FYI I am using Interactive Brokers and their tech support was of no help regarding this query.