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Thursday, December 3, 2009

Challenge Project: "Interest Bearing Sister" or Savings Account Migration

$500 Challenge Project Accounts:

The Three "Sisters":

Investing "Sister" Balance: $747.36

Trading "Sister" Balance: $1,571.21
Interest Bearing "Sister" Balance: $175.30
Total Challenge Project Funds: $2,493.87

Some time ago, I mentioned that I was moving the "interest bearing sister" of the $500 Challenge Project away from ING Direct, and to a personal account. Quite frankly, I was sick of the nonsense on the part of large financial institutions, who were looking to debt ridden governments to bail them out of their own financial misdeeds.

I then also mentioned that I was moving all of my other accounts associated with the Challenge Project, over to ThinkorSwim for the brokering.

I thought I should include a comment here that as of today, I'm moving the "Interest Bearing Sister" of the Challenge Project, to a third sub-account that I'm creating at ThinkorSwim. I have appreciated nearly every aspect of my interaction with them, from the platform, the support and customer service.

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Note: This is not an investment or trading recommendation. 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 or investment adviser, or financial planner. But I do have over 13 years of experience in trading and investing in these markets. The Challenge accounts are run for the education of other traders who should make their own decisions based off their own research, and tolerance for risk.

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