Investing overnight

[ggmaximus]

Does anyone have any good ideas regarding parking money overnight?

Currently I leave my cash in my margin loan account to offset the interest but since i,ve paid my interest in advance this is no longer viable.

Taking money out of the marigin loan account and putting it in a online savings account . ie bankwest 6.4% or commbank 5.65% is no good either because it takes one night to move it out and another to move it back in again.

Any suggestions?

 

[TraderPro]

Taking money out of the marigin loan account and putting it in a online savings account . ie bankwest 6.4% or commbank 5.65% is no good either because it takes one night to move it out and another to move it back in again.

Any suggestions?

Yeah, the additional downside besides the time is the bank charges when you do transfer the funds.

Isn't the commbank facility available at call? (Instantly? - from what i read you could just transfer the funds back into your transactional account if you're with commbank and then withdraw it on the same day)

That's probably your best bet with the least risk.

If you want a bit of return, can handle high risk then you could probably put the money into play in the money markets. Wouldn't recommend it though if you don't know what your doing or if you are one of those people who won't be able to sleep because of the risk.

 

[ggmaximus]

How would I go about investing in the money markets? do bonds increase in value every night? cheers.

 

[Greedy_Kev]

Does anyone have any good ideas regarding parking money overnight?

Currently I leave my cash in my margin loan account to offset the interest but since i,ve paid my interest in advance this is no longer viable.

Taking money out of the marigin loan account and putting it in a online savings account . ie bankwest 6.4% or commbank 5.65% is no good either because it takes one night to move it out and another to move it back in again.

Any suggestions?

use comsec, it gives u the combank interest rate or higher and is instant to transfer to ur trading account which are both linked

 

[Greedy_Kev]

How would I go about investing in the money markets? do bonds increase in value every night? cheers.

ozforex is pretty good, u can get a good rate and obtain cash not just point index, humm never played with bonds before, but i think it does, due to the time value of money, the closer to the expiry date the close it gets to the FV.

 

[ROE]

use comsec, it gives u the combank interest rate or higher and is instant to transfer to ur trading account which are both linked

yeah i got some money park in there until I got some stock I want to buy
nice interest last month but some month it can be as much as $400
best of both world ... no need to do term deposit ever again

all my dividend goes in there as well and the account mostly made up of dividend payment
and compounding until I find a stock I want to chuck the majority of the cash in.

Nice to see after 5-10 years compounding the effect start to accelerate to a point where
I get more in compounding return than I can ever save in my early years
so Einstein was right, it is a powerful force and it can make you very rich

04/01/2011 CREDIT INTEREST $168.86

 

[Ryan Watson]

Try overnight trading

https://daxovernighttrading.wordpress.com/