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This is a pretty severe restraint, especially for those looking to exit the market during the financial collapse of Infinite Possibilities with Niche and Specialty ETFs — While mutual funds tend to be broadly focused or have a particular investment theme based on the fund manager or sponsor company, hundreds of new ETFs are being launched annually which focus on very specific niches.

With ETFs coming to market based on quant theory, leveraging see the incredible results of shorting leveraged ETFs in pairs and other alternative strategies, the opportunities are limitless. Better Tax Treatment — Since ETFs are generally holding index or pre-designated stocks for a long period of time as opposed to actively managed mutual funds which react to the whims of market trends and media hype, the tax implications are often muted considerably for ETFs vs Mutual Funds.

This benefit adds up over time just like lower expense ratios. Often times, fund managers feel compelled to rush into the hot stocks at the close of a quarter so they show it as a holding in the prospectus or they have to sell a high flyer with a huge capital gain on the books to free up cash for redemptions when outflows begin.

These moves subject the mutual fund owner to much more significant tax liabilities than a similarly themed ETF. Individual stock picking carries a similar profile to mutual funds in that the turnover is generally much higher due to investor behavior. Check it out here while the deal is still active:. ETFs , Mutual Funds. I think this is a great article for him to read to get a straightforward overview.

Prudential Getting your data out of Prudential is fairly straightforward. Schwab Login to your account and follow the steps below: Click on the "Accounts" tab. Click on the "History" tab. Specify the date range and click "Search".

When results come back click on "Export" in the line above account number. TXF file for your tax software, and all of your transactions will be imported into the appropriate short- or long-term schedules. However , several customers have reported problems with the TXF files downloaded from the Scottrade website.

Just follow the steps below: Specify the time frame e. Just above the transactions records there is a link called "view details".

Click on it to get the transaction details like dates and wash sales. Then, at the right side of the "Go", press "Export to Excel". CSV file to your computer. Sign into your account. Select "View Your Portfolio" 3.

Select the Timeframe should already be set at Previous Year 7. Save the Excel file to your computer That's it! Smith Barney Getting your data out of your Smith Barney account is very straightforward. Login to your account and follow the steps below: Under Portfolio Menu option, click on Account Download.

That will take you to Download Manager web page. Using the drop-down box next to your account number, select the appropriate account view and click the "Download Data" button. A few customers have reported that they were able to get an Excel file with their trades by contacting SogoTrade directly and requesting it.

That will save you the hassle of following the steps listed below. Getting your data out of your Sogotrade or SogoElite account is a little bit of a pain, but it shouldn't take too long.

Just follow the steps below, and if you run into any problems, just send me an email: Click on the "Statements" option under the "Account" menu button. Edit the "from" and "to" month and year dropdown fields to get the range of monthly statements that you need. Clicking on the link for a monthly statement will open a PDF file that you can save to your computer.

Unfortunately, you'll need to save each of the twelve statements for the year. There are two ways to do this: If you have access to Adobe Acrobat Pro not Acrobat Reader , you can highlight the table, right-click, and select "copy as table". Then paste into an Excel worksheet. Then open the Word files, select and copy the "Account Activity" table, and paste into an Excel worksheet.

Using either of the above options should get you a reasonably well formatted Excel file, but you may need to do some editing in Excel before proceeding. I particular, you'll want to join the data from your twelve statements into a single Excel worksheet.

Also, some of the rows may get a little messed up and will need to be fixed up i. Ameritrade for now provides its customers with free access to Gainskeeper, which should work seamlessly with TaxCut and TurboTax. Here are the steps for generating a. Select the date range e. When the report comes up, click on the prompt to download data. Choose the CSV download format.

If you get a message which states "May contain features that are not compatible with CSV comma delineated. Do you want to keep the workbook in this format? Goto "My Accounts" and then "Other Info" 2. Select "Taxes" and then "Generate Tax Worksheet". Pick the desired date range. Download and save the CSV file. TradeKing Getting your data out of TradeKing is very straightforward.

Click the checkbox for "Excel" under "Choose Format". TradeStation First, login to your account and follow the steps below: Select the date range you want. Only 3 months can be selected at a time. You will have to download 4 quarters and then combine them to a single file via copying and pasting.

Under "Security type" select either "All". Under "Transaction type" select "All". Under file type select "Excel" from the drop down menu 7. Click "Download" and then "Save to disk" and then "OK". Unfortunately, TradeStation only offers a download of individual buy and sell transactions, but what you need are the combined transactions, where the buy and sell orders have been matched up.

Click on any of your account numbers. In the upper boxes, click "Statement and Reports" 3. Click "Download" on the far left 4. Under "Step 2" select "Accounts" and click any of your Accounts 6. Under "Step 3" select "Timeframe" and choose the desired tax year. Under "Step 4" select "Download". Unfortunately, UBS only offers a download of individual buy and sell transactions, but what you need are the combined transactions, where the buy and sell orders have been matched up.

Wachovia First, login to your account and follow the steps below: Select "Account Downloads" from under "Account Services" on the left margin. Select the "Excel" tab, then choose the following options: Click on "Download to Excel" and save the. You can have all your finances in one account vs. This makes transfers much easier. Plus, you can keep track of your finances better when everything is in one spot. Like I said before, I believe the value is there. Choosing the best online brokers is no easy task.

I had to be aware that comparing a full-service broker to a discount broker or options broker was going to be difficult. Once this comparison was complete, I was left with four of the best online brokers that excelled in specific areas. These four online brokerage firms cover the spectrum for anyone who would sign up for an investment account.

I knew I could recommend one of them to a specific group of investors or traders. The company still exists today and trades under the ticker SCON. This was the time of the first technology boom from The stock eventually went up to nearly double that and then crashed with the rest of the tech market.

Being 14 years old and thinking this stock was going to go up forever, I rode the wave up and all the way back down — down to nothing. Check out the chart of SCON below and feel my pain. You can see that the stock took two major spikes up and crashes back down I was involved in the first one.

Staying disciplined can keep you from losing money and ensure you lock in your gains. By discipline, I mean picking your prices — where you get in and get out ahead of time — and sticking to them.

The good news about many of the best online brokerage accounts is that you can start by trading virtually before you risk your money. You can practice strategies and track your gains and losses without having to invest a dime using the same software the broker offers for real money.

The best traders in the world are extremely disciplined and always on top of the latest research and trends in the market. I worked with several of these people and witnessed it firsthand on a daily basis. The amount of money I would make on my biggest winning days was significantly more in comparison to the amount I would lose on my worst losing days.

The experience was well worth it. My recommendation to most of you is to open an account with a full-service broker. There are different scenarios in which you should choose each of these brokers I reviewed. Compensation does not influence our rankings and recommendations.

However, we may earn a commission on sales from the companies featured in this post. To view a list of partners, click here. Opinions expressed here are the author's alone, and have not been reviewed, approved or otherwise endorsed by our advertisers.

Reasonable efforts are made to present accurate info, however all information is presented without warranty.

Financial Markets Investing Saving Money. The information in our reviews could be different from what you find when visiting a financial institution, service provider or a specific product's website. All products are presented without warranty. When I trade, I want to be able to easily find my order entry ticket. Quick access to basic charting. A chart tells me where the stock has been recently.