Portfolio reorganisation continues

As I wrote last week in “Cleaning up the Amateur Investor Portfolio“, I’ve decided to tidy up the Amateur Investor portfolio.

While I said that this was because the A.I. portfolio of over 200 holdings was proving to be too difficult to keep a close eye on, another consideration is that the 12 month anniversary of subscribing to The Share Centre’s unlimited share dealing option is approaching (The deed is done. I’m now a “Premium Trader”!)

This trading option costs £3000 per annum (£2500 + VAT) and allows frequent traders to trade as often as they like without additional trading fees. So anyone trading at least once a day will probably be better off on the Premium Trading option.

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This week has been all trades, trades, trades

At the end of my first week as the Amateur Investor, I decided to tot up just how many trades I’d made in the last 5 days.

In a previous post I described how I need to make at least 8 trades a week to make my Premium Dealing option with The Share Centre pay for itself.

Well, on Monday I made 48 trades, so I don’t think 8 trades a week is going to be a problem :)

At the end of my first week as the Amateur Investor, I’ve made the grand total of 122 trades. Had I been on The Share Centre’s Frequent Trader option rather then the Premium option, these 122 trades would have cost me £915 in commission.

I’m looking forward to next week…

The deed is done. I’m now a “Premium Trader”!

As mentioned on a previous post, I decided to open a dealing account with The Share Centre and add their Premium Dealing option.

So first thing this morning I phoned customer services (having already opened a standard dealing account online) and asked for the Premium Dealing Option to be added. Continue reading

And the winner is…

So the quest for a new online broker is complete.

As I embark on my new venture as the Amateur Investor, I want to be able to concentrate on investing and not be worrying about dealing commissions and other fees. I envisage I will be a regular trader, and regular trading usually means regular dealing commissions!

And I’ve now made my decision. Continue reading