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 amibroker@yahoogroups.com, "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: <amibroker@yahoogroups.com> > 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@yahoogroups.com, "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@yahoogroups.com, "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 > > > > > > >