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[amibroker] Re: Interactive Brokers plugin policy change



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> Still doing it below $25K is very risky and CFDs are not allowed 
>for US citizens I think.
> 


All the rage in Aus and the UK - definitely not allowed for US 
citizens e.g. Aus CFD 'brokers' have strict rules against accepting 
accounts from US citizens - don't know how that flys now that the ASX 
is the first exchange in the world to offer their own CFD's because 
(theoretically) Aus brokers will accept accounts from US citizens, to 
trade the ASX, where it is an unsolicited approach (it used to be the 
same in the US - I had a US based account but after 9/11 they threw 
me out).

brian_z

--- In amibroker@xxxxxxxxxxxxxxx, "Tomasz Janeczko" <groups@xxx> 
wrote:
>
> 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 
>   To: Tomasz Janeczko 
>   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.f
ormSampleView?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@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
> 
>   >>> > 
> 
>   >>> >
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
> 
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> 
> 
> 
> 
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> 
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> 
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> 
> 
> 
> 
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> 
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