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> 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?
I can confirm. I have margin account at IB and doing daytrading.
One day I did over 50 trades on one symbol. Funds are credited back in real time.
And it is fully documented on IB site:
http://206.106.137.34/MktServices/servlet/CreatePdf?f=/en/trading/tradingConfiguration.php%3Fprint%3D1%26p%3Da&lm=1205178969&n=t
"Reg T Margin" account:
Borrowing to support equities trading, shorting of equities, currency conversions, and stock trading in multiple currencies. Margin
requirements are computed on a
formula-based real-time basis, with immediate position liquidation if the minimum maintenance margin requirement is not met.
*** Purchase and sale proceeds are immediately recognized. ***
US securities regulations require at least USD 25,000 (or USD equivalent) in equity to day trade. US IRA accounts are never allowed
to borrow cash (have a debit balance) in a Reg T Margin account.
Best regards,
Tomasz Janeczko
amibroker.com
----- Original Message -----
From: "brian_z111" <brian_z111@xxxxxxxxx>
To: <amibroker@xxxxxxxxxxxxxxx>
Sent: Thursday, March 13, 2008 12:32 AM
Subject: [amibroker] Re: Interactive Brokers plugin policy change
> 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.
>
> 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.
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:
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For other support material please check also:
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