A Mirrow to TSP

[Spaf]

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Asking for you suggestions / thoughts / opinions / etc???????

Outside of TSP I have a tax paid portfolio with Fidelity Investments. The funds are similar to TSP. However, thats a traditional buy and hold. Trading irritates them (Fidelity), and ever once in a while I get a nasty letter, telling me off. It's hard for me to see how my trades can harm their billion$ funds. I can go to their brokerage and get iShares very similar to TSP. However they charge $15-20 a trade. Ouch.

Scottrade charges $7 a trade. I think I can get iShares mirrowing TSP. Trying not to re-invent the wheel. What are your comments?

??:???

 

[ou81200]

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Spaf---

Are you wanting to trade regular stocks or are you setting up some kind of IRA or mutual funds?

There are a number of online brokerages out there. The two I use are Firstrade.com and Lowtrades.com

Firstrade charges 6.95 a trade for any stocks over two dollars a share. Limit orders are 11.95. Lowtrade charges 5.00 a trade for either market or limit orders. The problem with both of them is they only provide the service, they will not help you with DD .

I'm hope this helps

 

[Spaf]

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TSP will be my IRA in the near future (now leaning with USAA).
I'm talking about a 2nd portfolio: or other funds. Fidelity sees the "long term". And,I don't have a long term!
My Fidelity accounts have been stagnant since Febuary, up and down in the cycles! My TSP funds have in the same periodbeen up 10%+ with market timing, once I acquired a system. I would like to shuck Fidelity and go it on my own.
My inquiry is whether anyone has experimented with other sources i.e., Scottrade, etc. and what is there opinion,concerning a 2nd portfolio? I hope to retire in 2 years, but the market being one of my hobbies; I was just wondering if anyone had any insights or experiences with broker companies such as Scottrade? And what were there opinions?

Thanks ou! 4 U comments!

 

[Cinderella]

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Hi Spaf, My co-workers highly recommend USAA for your future IRA. As for experimenting with Scottrade, check with Rolo, Mlk_Man, and/or Joel. I believe that I have read posts from them on this board regarding their dealing with Scottrade.

 

[Guest]

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I have a regular investment account with Scottrade and am in the process of setting up a Roth IRA account. The problem I was having with investing in mutual funds with them is it took 3 days to "clear" once you sold the fund. That was not working out well with my "system" since I play trends. However, if you transfer between funds of the same family, this happens same day and works well with my system. :^

Mutural fund transfers are free, regular trades are $7 and penny stocks are $12 and a certain percentage of your investment. .02% or something like that. You can open an account with as little as $500.

 

[TheProphet]

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Spaf,

I do have experience with Charles Schwab... I think is one of the best... their website etc... I am planning to do it with them once I retire... you can trade on website etc...

Also you can do cover calls... I mean... sell calls out of the money... if the stocks goes up... you still make money on the stock... if the stock goes down... you make money on the calls...

Good Luck...

Leon

 

[TheProphet]

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Careful on the company you choose... I prefer to pay more commission but be certain of my money and transacions with a good reliable company such as Schwab... iShares is good... IWM... also indexes... SPY... DIA... QQQ... etc...

 

[MB550]

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I have ataxable account and an IRA with Scottrade--no problems, but I don't trade often (except for small cap growth stocks in a bull market). I combine TSP funds with ETF's through Scottrade and consider them all part of my total portfolio.

I doubt Fiidelity and USAA are much different when it come to their attitude towards short term tradingin their mutual funds.

Use ETF's if you want to market time indexes outside of the TSP.

 

[Spaf]

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MB550
You got a lot of good info here, that deserves talking.
1st I'm close to retirement, but the market is a hobby of sorts. I have several accounts too. TSP is a retirement leg of FERS. TSP is tax deferred. I plan to transfer my TSP to a traditional IRA with USAA. Will be transfering Fidelity funds to Scottrade. Fidelity charges $15-20 a trade. Scottrade $7. Fidelity gets nasty if you market time their regular funds. Why? They think differently! I think it has to do with greed,letting customers sell low and buy high, charging high ERs, big vacations, etc. I'vebeen looking into ETFS, and I like what I see, particularly the IShare group. There are funds in there that match the TSP funds, which I am familiar with. Scottrade is a new system to me, and have to do some learning. Keep me informed!
Have a good one!

 

[Guest]

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MB550 wrote:

I have ataxable account and an IRA with Scottrade--no problems, but I don't trade often (except for small cap growth stocks in a bull market). I combine TSP funds with ETF's through Scottrade and consider them all part of my total portfolio.

I doubt Fiidelity and USAA are much different when it come to their attitude towards short term tradingin their mutual funds.

Use ETF's if you want to market time indexes outside of the TSP.

Actually if you trade in the same family of funds, this happens same day. Otherwise it takes 3 days to "settle" your account and then ETF's would be better.

 

[TheProphet]

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Use ETF's if you want to market time indexes outside of the TSP.

I Agree 100 % also....:^

 

[Spaf]

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Cind....Mike....Leon....MB Thanks Guys/Gals!!

Both Vanguard and USAA have some good funds. USAA has low ERs and some good index funds, they also have some that can be volatile! You can print out various options on their web site and it seems to be kind of user friendly. Vanguard has some good index funds and others too, plus low ERs, but wow is thier paper work complicated. I can also go through my local bank and get some american funds that are good and bonds to pay a return, but loads tend to scare me. The TSP can also be rolled over to a Met Life annuity, which is another option. The good point is that returns are higher, but you lose your principal. The question is how much do I want to leave when the final call is placed. That extra $ could buy a new bass boat?

Being respectable, I think USAA and Vanguard are my best bet!

My Fidelity accounts are going real good, right now. But, Fidelity takes a sour issue on attempts to market time. Like my paultry investment was going to derail their 6 billion dollar fund. So, I've set up an account with Scottrade to move the Fidelity funds into. ETF's seem to be good. iShares have funds identical to the TSP funds. So I can minimize my learning curve.

Thanks for your suggestions, any other input would be appreciated. There is a lot of if's, and's and but's when you get close to retirement.

Rgds Spaf