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Daniel, all institutions are required to follow "Reg T." Settlement is
dependant upon the type of instrument traded. If you have a margin
account then most times you don't have to worry about settlement
issues. However, if you have a cash or retirement account settlement
will become an issue (for an actively traded account) and thus might be
a good idea to factor into a trading system.
Here is a discussion with other links on the subject.
http://www.federalreserve.gov/boarddocs/legalint/MarginRequirements/2003/20030512/
I have accounts at IB, Fido as well as Merrill. The advantage of IB is
fees and markets. The advantage of ML is larger position list for
shorts. All however clear in the same time frame.
Regards,
Duke Jones, CMT
danielwardadams wrote:
>How much difference is there in settlement periods? I'm currently
>using CyberTrader (owned by Schwab).
>
>Dan
>
>--- In amibroker@xxxxxxxxxxxxxxx, eric paradis
><thechemistrybetweenus@xxxx> wrote:
>
>
>>If you want to trade a system using amibroker, my
>>advice would be switch to a broker like IB, to avoid
>>settlement delays, and to avoid burning through your
>>account paying high fees. Usually its only the
>>high-priced bank style brokerages that have 3 day
>>settlements.
>>
>>thanks
>>
>>Eric
>>
>>--- danielwardadams <danielwardadams@xxxx> wrote:
>>
>>
>>
>>>Is there any way to factor Settlement Periods into
>>>Backtests? I
>>>typically buy near the Open but if I sell one day,
>>>my backtests show
>>>me being able to buy at the Open the next day. In
>>>reality, I have to
>>>wait for the three business day settlement period
>>>before I can buy
>>>again. I'm certain there are ways to keep track of
>>>the three day
>>>period in my AFL and prevent new purchases but it
>>>seems this should be
>>>a backtester setting.
>>>
>>>Thanks for any help.
>>>
>>>Note: I just found the 4320 minute "Periodicity"
>>>variable in the
>>>Backtest settings. Is this what I'm asking for
>>>(since it just happens
>>>to be three days)? If so, is there any way to set it
>>>programatically?
>>>
>>>Dan
>>>
>>>
>>>
>>>
>>>
>>>
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