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Thankyou very much Tomasz.
So, I am good to go - IB it is - another happy customer.
Looks like I will be buying that IB plugin that you have for sale.
It shows the difficulty of doing business via email doesn't it - how
I couldn't get the correct answer to a simple question from an
internet support desk or receive direction to their own support
material (had to get it from the CEO of AmiBroker!).
Thanks once again for the support you provide to my trading (in lots
of different ways).
brian_z
--- In amibroker@xxxxxxxxxxxxxxx, "Tomasz Janeczko" <groups@xxx>
wrote:
>
> > 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@xxx>
> 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@>
> > 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@>
> >> 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:
http://www.amibroker.com/devlog/
For other support material please check also:
http://www.amibroker.com/support.html
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