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Re: > If someone has less than $25K, better forget about daytrading.
It is not a decision that is up to the trader: the SEC will not let you day trade with less than US$25,000:
https://www.interactivebrokers.com/Universal/servlet/Registration_v2.formSampleView?ad=day_trading_risk_disclosure.jsp
You will also have to fill in a questionnaire to obtain day trading privileges...
Best regards,
herman
Wednesday, March 12, 2008, 7:15:27 PM, you 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@xxxxxxxxx>
> 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@xxx> 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
>>> >
>>> >
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