[Date Prev][Date Next][Thread Prev][Thread Next][Date Index][Thread Index]

Re: [amibroker] Re: Interactive Brokers plugin policy change



PureBytes Links

Trading Reference Links

Herman,
 
That is certainly true for regular brokerage accounts.
You may however daytrade using smaller accounts on stocks and futures (via CFDs - contact for differences) and forex.
Still doing it below $25K is very risky and CFDs are not allowed for US citizens I think.

Best regards,
Tomasz Janeczko
amibroker.com
----- Original Message -----
From: Herman
Sent: Thursday, March 13, 2008 1:35 AM
Subject: Re: [amibroker] Re: Interactive Brokers plugin policy change

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

>>> > 

>>> >






>> 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


> <*> To visit your group on the web, go to:

>     http://groups.yahoo.com/group/amibroker/


> <*> Your email settings:

>     Individual Email | Traditional


> <*> To change settings online go to:

>     http://groups.yahoo.com/group/amibroker/join

>     (Yahoo! ID required)


> <*> To change settings via email:

>     mailto:amibroker-digest@xxxxxxxxxxxxxxx 

>     mailto:amibroker-fullfeatured@xxxxxxxxxxxxxxx


> <*> To unsubscribe from this group, send an email to:

>     amibroker-unsubscribe@xxxxxxxxxxxxxxx


> <*> Your use of Yahoo! Groups is subject to:

>     http://docs.yahoo.com/info/terms/

>  

__._,_.___

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




Your email settings: Individual Email|Traditional
Change settings via the Web (Yahoo! ID required)
Change settings via email: Switch delivery to Daily Digest | Switch to Fully Featured
Visit Your Group | Yahoo! Groups Terms of Use | Unsubscribe

__,_._,___