Anyone with FolioFN or broker experience please help...?

I am trying to setup my wife's automatic buy/sell on Foliofn.

What does the following mean, and what are the pros and cons of each option?

Buy at Current Market Weights: The automatic buy will buy more of each security at its weight in the Folio as of the time the order is placed.

Buy Dollar Cost Average: The automatic buy will buy more of each security according to its target weight established in the Folio.

Buy Rebalance: Your automatic buy will buy the securities that will bring the Folio closer to its target weights. Do not sell any securities.

Sell at Current Market Weights: Sell each security at its weight in the Folio as of the time the order is placed.

Sell Rebalance: Sell the securities that will bring the Folio closer to its target weights. Do not buy any securities.

Also, FolioFn is askingme if I would like to reinvest dividends of $1 or more in the securities that paid them or put all dividends in my Cash and Money Funds.

What do these mean, and the pros and cons?

There is alot here my friend and it is pretty self explanatory above. But you basically have 2 options here.
1. Buy/Sell at market weights.-This is saying they will go off the industry standard of the current weight of the S&P500 and where it is at that particular time when you put more money in your account to buy or when you want to get out -sell. This just means you are as risky as the current market.
Neg-would be if you don't want to be as risky as the current market. Positive is-you are exactly like the market, so when the market is doing well, so will you.

2. Buy dollar cost averaging-they will determine through questions what your overall weight should be based on your answers. You will establish a target weight for you, not the markets (s&p 500) weight. When you buy and sell, they will put your money and spread it out accordingly to your recommendations. (I think this is the best option, because it will be more taylored to you).

Rebalance(buy & sell) means at different times you set up they will automatically rebalance the account so you are on pace for your goals and you don't get off balance. (example-if energy sector does really well and you don't rebalance, after 2 years you might have alot more money in that position and then if it turns and you didn't rebalance it, you would lose more money because you would have more invested as you should in that sector)

Basically rebalancing, takes money off your profits and spreads it around. I think rebalancing is a great thing. Set it for atleast once a year.....and if you have alot of money set it for 4 times a year. I think somebody with 200k or more should rebalance 4 times a year, anybody with less, its their choice. BUT ATLEAST ONCE A YEAR.

DEFINITELY REINVEST YOUR DIVIDENDS UNLESS YOU ARE GETTING READY TO RETIRE OR YOU NEED THE MONEY. Otherwise, if you don't need to the money, reinvest your dividends. It makes your accounts and money grow.

Hope this helps......If it was me, I would
1. Dollar cost average based on my personal target weights in the folio.(obviously includes buy dollar cost average and sell at current market weights)
2. Rebalance atleast once a year preferrably 4 times a year.
3. Reinvest my dividends if I didn't need the money.

Good luck.