Where can i safely park my money?

K

konviction

I got money in a TOS trading account but I dont want to close it out. Where can I invest this money so it will grow, but be safe at the same time?

I'm taking time to paper trade new methods but I dont want my money just sitting inactive.

thanks
 
If you have an IRA and can't pull your money out, I guess you could research a bond mutual fund which meets your risk profile since TOS allows you to trade mutual funds.

Myself, I would leave it where it is and just consider it an opportunity cost of your education. Even if you're talking an account of $100k or more, a quick look shows short term CDs through major banks are pretty crappy. You might take a look at some of the online banks as I've heard some of them can give you decent savings rates (3-5%), but they probably have a bunch of requirements and hoops for you to jump through as well.
 
Quote from retaildaytrader:

Park it in the SRS and watch the account go up.
More...

Not exactly no risk, but what about a 12 month collar?

Buy 100 SRS,
Sell 1 Jan 2011, 10C
Buy 1 Jan 2011, 7.5P

Risk = $-0.39. (Close below 7.5)
Reward = $2.11 (Close Above 10)

Use TOS GTC Collar order and shave a few cents off the ask price...

Main drawback with collars is that you normally need to hold them the full duration (can be a pain to back out ahead of time).
 

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