I closed the last of my own trades today for a profit, that was CAH that I referred to in the Stop Order post this morning. Now my account has exclusively trade advisory positions, ten of them.
So I am all in with service trades and all out with my trades.
I have one account that is all green , one that is neutral and one that is mostly red, but not by much. Overall they are down a bit but after last week's profits I am hardly concerned about a couple hundred in paper losses at this point.
My accounts are a margin account, an RRSP account and a TFSA. The TFSA is the account that I really want to concentrate on as it can produce tax free profits that are available to transfer to other trading accounts, let grow through compounding or just use. In that light I am migrating all of my trades over to it now. AS it is I have six trades in there and still have $2500 in buying power (cash, no margin). Seeing as my largest position was $4.00 for one contract and the rest are all under $300 even with 4 contracts I can easily squeeze 10 - 15 trades in here.
My next consideration is what to do with the RRSP account. I may cash it out, or most of it, and transfer to the trade service that I spoke about before with the dedicated brokerage. I have authority now (Kate trusts that I will not squander the money) to liquidate some other investments to fund the venture if I still feel it of value after the webinar on Wednesday. At least, unlike many of the services, this is not a "limited time", " must act now", " save 1/2 off" sort of deal. This is a regular business operation and, as such, I do expect a level of service above anything I have experienced so far in my trading.
Some of today's activity included entering two more trades and getting filled as the market has a smallish pullback. I need to reduce my time spent in front of the computer with trading now. using services MAY provide that once I get to a point of trusting them. The last service will provide this as they look after the filling of orders to open and to close based on my criteria. Even though there is an expense involved I think that I will find it worthwhile.
Jeff.
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