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.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" <[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" >> <[EMAIL PROTECTED]> 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 > http://groups.yahoo.com/group/amibroker/ > Individual Email | Traditional > http://groups.yahoo.com/group/amibroker/join > (Yahoo! ID required) > mailto:[EMAIL PROTECTED] > mailto:[EMAIL PROTECTED] > [EMAIL PROTECTED] > http://docs.yahoo.com/info/terms/ >
