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Buffalo

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Posts: 603

Joined: 7/11/2007
Location: Braintree, MA

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Subject : RE: Avoiding Pattern Day trading with OP
Posted : 5/19/2013 12:55 PM
Post #21899 - In reply to #21885

Excellent idea

For people who don't get why this would be useful it is designed to avoid problems when you have a non-margin/cash only trading account. This can help you avoid a margin call as well

MB trading simply won't let you violate the 3 day clearing rule - the requested trade will go unfilled.

But this idea needs to be included in Port Sim as well - so you can get a feel for how the 3-day clearing rule effects your results.

Even better, allow (in OP and Port Sim) a way to control how many longs vs shorts are entered each day, or how many you have open at any time, or how many trades/day you will enter, etc. If you have a cash acct you may want to spread your trading out and not be completely allocated all in one day, for example

And we should not have to wait for a new module or a version of omnivest's trade processor - these are not complex adjustments that could be implemented into OP/PS.

Last BASH Ed said we would see a huge improvement in Port Sim in 2013 - wonder when that update will hit the streets?
Deleting message 21899 : RE: Avoiding Pattern Day trading with OP


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