I have been out of the market, having sold my SPY position and other stocks when SPY was $131. I saw a correction coming and didn't know when or how to play it, so I just sat on the sidelines.
Thus, I have NO position in any stock, except metals and a few legacy inheritance stocks from my dad.
But I want to be in the market, just at the right price.
My plan is to put in an 700 share limit $112 buy fill or kill, and an 800 share limit buy at $108 and then sleep in and wake up later to see what happened.
I absolutley never trade with fixed prices in mind beforehand. If you are watching the market trade and your selected prices approach, it may make zero sense to place the order at those prices. The only way you will know is to be watching the action unfold.