> 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" <[EMAIL PROTECTED]> To: <[email protected]> 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 [email protected], "Tomasz Janeczko" <[EMAIL PROTECTED]> > 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" <[EMAIL PROTECTED]> >> To: <[email protected]> >> 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 [email protected], "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 [email protected], "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 > > >
