Suppose the first order differential equation
$\frac{dy}{dx}=f(x,y)$
If we look at a trivial finite difference lets say
$\frac{y^{n+1} - y^{n}}{\Delta t} = \phi f^{n+1} + (1-\phi)f^{n}$
We can observe that for different values of $\phi$, the error of the method will vary. For example we see if for $\phi=0,1,.5$ we see that the method simply reverts to forward euler, backward euler, and crank nickolson method.
This is my question, lets assume we didn't know what was the best value of $\phi$ was. Can we find the $\phi$ in some manner so we know that the local truncation error would be minimized. Maybe even more powerfully, find $\phi$, such that you find the $\phi$ which minimizes error, but is also stable( either unconditionally stable or a stability condition).
Thanks.