The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Pls Help Me get Off To A Good Start||Date: 11/16/2011 4:01 PM|
|Author: NotfoolinRound||Number: 114314 of 124305|
I'm new to TMF and attempting to reshuffle my accounts and investment strategy. I'd appreciate the community's perspective and wisdom so I get off to an optimum start. I've joined 3 services; SA and Pro in August and MDP and DV in November. I've purchased 11 "core" and "Now" picks off David's and Tom's SA list. I've gotten margin and options authority set up, but have not done any trades in this area yet. I want to educate myself regarding options before I dive in. I also want to get some confirmation on the overall plan descibed below before I start buying anything else. As soon as I feel I'm heading in the right direction with my overall account allocation strategy I'll pull the trigger on the 1st MDP buy reco.
As I write this I'm planning to post it to all premium services boards in order to get perspective from the people who are directing and or using each of the services. I will also post to Inheritance, Portfolio and Tax Strategy boards for their perspective. And why not put my ear to the Divorce board while I'm at it? I'm hoping folks from each community will address questions and comment on the aspects of the plan that pertain to their area of interest/expertise.
Here are the questions :
1) I'm planning on using a different premium services strategy for each account that I'm managing. This will make it a bit easier to know how much a 5% position amounts to when I'm instructed to allocate that much to a stock purchase. I think it will also make comparing the strategies to each other a bit easier over the long haul. Is there a more flexible, more simple, or more effective way of managing this aspect? I intend to use Fidelity as my brokerage. Would you recommend I use Fidelity Active Trader Pro.com watch lists to create "premium service" baskets and just tap money from various accounts to make the individual purchases? As a reult a given IRA account would contain investments that represented a mixture of premium service strategies. In short, one strategy/per acct or pull cash from whatever acct makes sense and use watch lists to hold each strategy?
2) What is your perspective on the amount to allocate to each strategy? (If I go with the "one strategy/acct" approach I don't have much freedom to change the amount of $ in each acct., but if I use watch lists to organize, I could take the total dollars I'm planning to manage myself and divide it betwen the strategies in the way that makes the most sense.) For example, since MDP and MDP/DV is supposed to be the best of the best should I be moving out of SA holdings and allocating that money differently, for example to Pro? Then I'd have both an IRA account and a brokerage account holding my Pro investments. I'd use the brokerage acct for performing the option trades that can't be done in the IRA. How would you allocate this cash if it were yours?
3) The brokerage acct is the only place to do full options trading so I've relegated MF Pro to that account. However, it doesn't seem to be enough