Ok, I have both sub-accounts created.
I'm sending $370.00 to the Xpresstrade account, and the remaining $130.00 to the Sharebuilder account. This is due to the strategy that I've come up with given the circumstances that I've allowed for myself in this little scenario. My one rule states that I can add, and split amongst the accounts up to $100.00 a month. This is key. These accounts have to be larger than they are before I actually begin trading in them. By my math (using money management principles) I'm figuring the Xpresstrade account has to be $750.00 before I start trading options in it, and the Sharebuilder account should be at least $150.00 before I even think of making a purchase. The benefit on the Sharebuilder account is that the money within it earns approximately 4.40% - as it is considered a money market account. So I don't actually have to have bought a stock in this account, before I start making my money work for me.
It'll take a couple of weeks for the pending transfers to occur for the Sharebuilder account. I've already transfered the money from my primary Xpresstrade account to the sub-account. The Sharebuilder account should be ready to go by the first week or so of November. This gives us some time to 'talk'. :) While we wait for that to be done,. I will discuss for the next few weeks, various principles that someone must be familiar with as the begin investing and trading. Tomorrow I will discuss the specific ventures I engage in, as I make money in the markets; and the differences between them. After that, I'll discuss money management principles (Risk / Reward ratios, Accuracy rates, Drawdown, etc.) as well as strategies for picking stocks and trades.
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This is not a recommendation of how to spend $500.00. The losses in trading can be very real, and depending on the investment vehicle, can exceed your initial investment. I am not a licensed trading advisor, or financial planner. But I do have 12 years of experience in trading and investing in these markets. The above experiment will be run for my own education, and education of other traders.