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Yes, that is why I posted on the subject.
To invite the forum to clear up my misconceptions.
I asked IB about this twice, via emails, and both times they told me
T+3.
I am sorry to have to confess that I have not read many of Hermans
posts - I spend too much time talking in the forum instead (I am
going to study them carefully soon though and privately I talked to
him about that last year - I love his work though and we have become
virutal friends via working together at the UKB).
Yes, I understand the $25K rule - its the same in Australia.
I will go back to IB and ask again.
Can any daytrader please confirm - they have $25K plus in an account,
they exit a trade on the same day they enter it AND the funds are
credited back to their account immediately and they use those funds
to enter a new daytrade at the open on the very next day?
brian_z
--- In amibroker@xxxxxxxxxxxxxxx, "Tomasz Janeczko" <groups@xxx>
wrote:
>
> Hello,
>
> Lots of misconception I can see.
>
> AmiBroker does have direct auto-trading interface to IB
http://www.amibroker.com/at/,
> and you should know about that Brian, considering the fact that you
are UKB contributor together with Herman,
> and Herman is just "using AB as a trading platform" and he is doing
daytrading.
>
> Plus IB has international coverage.
>
> A "t+3 clearance issue" is different story.
> It just for IB accounts that have less than $25000 funds,
> that is why it is non-issue for traders.
>
> If someone has less than $25K, better forget about daytrading.
>
> US IRA accounts are another story, but as I wrote Daniel, IRA-style
delayed clearance
> is on to-do list.
>
> Best regards,
> Tomasz Janeczko
> amibroker.com
> ----- Original Message -----
> From: "brian_z111" <brian_z111@xxx>
> To: <amibroker@xxxxxxxxxxxxxxx>
> Sent: Wednesday, March 12, 2008 11:51 PM
> Subject: [amibroker] Re: Interactive Brokers plugin policy change
>
>
> >> I'm glad to see someone else mention the t+3 clearance issue.
> >
> > I'm amazed that it never seems to get a mention.
> >
> > Sadly I can't see that any daytrader could or would use AB as a
> > trading platform (unless they have AB >> QT >> a broker other
than AB.
> >
> > I guess they use AB for backtesting and go to another platform
for
> > trading OR sit in the chair between an AB screen and a
> > broker/platform screen.
> >
> > For myself, I will have to start to look at available platforms
at
> > some stage - I am reluctant because of the energy I have invested
in
> > AB and also I don't want to code using online platforms (too easy
for
> > the owner to pinch my code/systems).
> >
> >> My principal use of AB is to backtest trading strategies and
there
> >>is
> >> no way to take this settlement time into account during a
backtest.
> >
> > Minimizing turn around time between trades is a rule in
> > my 'essentials' list e.g for short term EOD trade, on the close,
I
> > can get out a little early and get back in next trade the same
day
> > (at Options Express).
> >
> > I do account for it in my system evaluation (I will have to get
on my
> > expectancy soapbox again).
> >
> > a) use expectancy% as the baseline metric (derived from
PowerFactor)
> > b) use expectancy * ave time in trade to standardize as PA%
> > (convert to annual return)
> > c) if I have to wait for the next trade of for technical reasons
I
> > can't go straight back in, add the average turn around time to
ave
> > time in trade.
> >
> > Expectancy/PowerFactor/BiniomialSimulation is a beautiful thing -
I
> > hope it is good and the mathematicians approve of it.
> >
> > Even Graham's exposure can be easily managed as above (I tend to
work
> > everything out my own way instead of struggling to come to grips
with
> > other people mysterious or hidden logic (sorry Graham - I wanted
to
> > talk to you about exposure but couldn't fit it in).
> >
> >
> > brian_z
> >
> > --- In amibroker@xxxxxxxxxxxxxxx, "danielwardadams"
> > <danielwardadams@> wrote:
> >>
> >> I'm glad to see someone else mention the t+3 clearance issue. I
> >> primarily trade in IRAs in which the use of margin isn't
allowed.
> >> Consequently, I always have to wait the 3 day settlement time
> > before
> >> my funds from a long sell (can't short in IRAs either) are
> > available
> >> to trade again. In "Cash" accounts and with the use of margin
this
> >> isn't an issue as the funds can be reused immediately.
> >>
> >> My principal use of AB is to backtest trading strategies and
there
> > is
> >> no way to take this settlement time into account during a
backtest.
> >> Sometime ago (a year maybe) after I brought this to Tomasz's
> >> attention, he said he thought adding this settlement time lag to
> > the
> >> backtester would be a good thing and thought it might give AB a
> >> competitive edge since to his knowledge no other backtesting
> > software
> >> handled it either.
> >>
> >> At the time, I told him I always just attempted to achieve
maximum
> >> total returns in my backtests knowing full well I could never
> > achieve
> >> them because I will always have a portion of my portfolio
> > unavailable
> >> for trading.
> >>
> >> To my knowledge this issue has never been addressed and I don't
> > know
> >> where it fits in the priority of enhancements (?).
> >>
> >> Dan
> >>
> >> Note: I dont think the Broker Feed => Medved QT => Amibroker
> > solution
> >> to genericizing the plugin issue is a bad idea either.
> >>
> >>
> >> -----------------------------------------------------------------
---
> > -
> >> Re your point on scalping.
> >>
> >> > There are people who are doing scalping in an IB--->QT
> > environment.
> >> >I am
> >> > guessing they are not suffering any substantial efficiency
losses
> >> as they
> >> > are quite successful.
> >>
> >> Possibly I am mis-understanding something about the way the funds
> >> from intraday trades are cleared but if I have take 1% on an
> > intraday
> >> trade and then have to wait t+3 for the funds to be available
> > haven't
> >> I reduced my returns to 1%/3?
> >>
> >> If that isn't the case (I don't have to wait 3 days to put the
> > closed
> >> intraday trade funds back to work) then I would love to go to IB
> >> (based on the number of others who use it and the body of
published
> >> work that will help me make the transition to AT).
> >>
> >> brian_z
> >>
> >> --- In amibroker@xxxxxxxxxxxxxxx, "brian_z111" <brian_z111@>
wrote:
> >> >
> >> > Rakesh,
> >> >
> >> > I am with you on everything there (happy to pay for ad free
> >> > enviornment etc).
> >> >
> >> > As per your previous comment:
> >> >
> >> > > > > A solution that covers Broker Feed---->MedVed QT------->
> >> > >>AmiBroker
> >> > > > can cover
> >> > > > > the needs of a large portion of the universe of AB
clients.
> >> >
> >> > Re your point on scalping.
> >> >
> >> > > There are people who are doing scalping in an IB--->QT
> >> environment.
> >> > >I am
> >> > > guessing they are not suffering any substantial efficiency
> > losses
> >> > as they
> >> > > are quite successful.
> >> >
> >> > Possibly I am mis-understanding something about the way the
funds
> >> > from intraday trades are cleared but if I have take 1% on an
> >> intraday
> >> > trade and then have to wait t+3 for the funds to be available
> >> haven't
> >> > I reduced my returns to 1%/3?
> >> >
> >> > If that isn't the case (I don't have to wait 3 days to put the
> >> closed
> >> > intraday trade funds back to work) then I would love to go to
IB
> >> > (based on the number of others who use it and the body of
> > published
> >> > work that will help me make the transition to AT).
> >> >
> >> > brian_z
> >> >
> >> >
> >>
> >
> >
> >
> >
> > Please note that this group is for discussion between users only.
> >
> > To get support from AmiBroker please send an e-mail directly to
> > SUPPORT {at} amibroker.com
> >
> > For NEW RELEASE ANNOUNCEMENTS and other news always check DEVLOG:
> > http://www.amibroker.com/devlog/
> >
> > For other support material please check also:
> > http://www.amibroker.com/support.html
> >
> > Yahoo! Groups Links
> >
> >
> >
>
Please note that this group is for discussion between users only.
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