there's an advantage to trading the com-free's from tos because one can utilize advanced order types that are only available on tos. for example, trailing buy-stops are rejected by the tda web accounts but work on tos. also, you can make use of tos's advanced order-triggering mechanisms. i recently found utility for the advanced order called 1rst triggers sequence. this order type creates a queue of orders that are sent to the market in sequence as each one is filled. here's a screen shot of one of my sequenced orders:
|commission-free etf, ewu, with queue of single share buy orders|
the basic idea here is to accumulate shares when the market is rising. choppy markets may trigger buys without trending price movement but that's mitigated by the small number of orders in the queue. once the queue is empty one can re-evaluate the trend and adjust the parameters for the orders. for example, a bigger trailing-stop will throttle back the fills in a choppy market. in general, i like a 1% trailing stop on etf's yielding above 5%, 2% trailing stop on 4% yield and 3% on 3% yield. when an etf gets under 3% yield i don't refill the order queue. that's my plan to accumulate a small number of shares in a diverse number of temporarily high-yielding etf's. alas, dividend payouts may vary and not always to the upside.