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T+3 rule for equitues on an IB cash account.

Hi guys,
Quick question. Im planning to go live on IB but my main concern is the T+3 rule. My strategy is trading at the beginning of each month selling 3 stocks and buying 3 other stocks. Would that work fine or my "BUY" orders will get rejected cause I wont have enough cash due to T+3 rule. When I backtested the strategy it worked fine when setting "AccountType.Cash".

Also one more question. My account is in GPB should I convert it to USD if I wanna trade US stocks or this will be done automatically?
Many Thanks

Update Backtest







hmm it sounds like you would use every cent of your cash for the buy orders.

try to lower the quantity: setholdings(stockx,0.25m)

or something like that.

If it tries to buy something it seems that if it would work but you are using too much money for the orders.

GPB seems to work then?

What i have seen it will buy dollars to buy your stock.

If you sell your stock you are sitting on a specifc dollar amount in your portfolio.

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Hi Nick,

As far as I understand  in your case you do not have T+3 rule case (at least for some brokers)

becasue you sell, then buy and hold for months.

If you have for the same day:  sell, buy and sell (e.g. stop loss triggered) this would trigger T+3 rule.

Thanks

Nik

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One side note when simulating and executing market orders on IB CASH account:

Using SetHoldings(XXX, 1), works on simulation, but actually fails on real trade IB.

The reason is , the algorithm calculates the shares based on current price, but IB wants you to have shares*price*1.05 (they want 5% more on cash accounts).

So, for your market orders to work, you need SetHoldings(XXX, 0.94)

I had this situation and was surprised to find out about these 5%

Good luck :))

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Thanks Nik! We'll try build that into the brokerage model!
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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


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https://github.com/QuantConnect/Lean/issues/2108
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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


Update Backtest





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The material on this website is provided for informational purposes only and does not constitute an offer to sell, a solicitation to buy, or a recommendation or endorsement for any security or strategy, nor does it constitute an offer to provide investment advisory services by QuantConnect. In addition, the material offers no opinion with respect to the suitability of any security or specific investment. QuantConnect makes no guarantees as to the accuracy or completeness of the views expressed in the website. The views are subject to change, and may have become unreliable for various reasons, including changes in market conditions or economic circumstances. All investments involve risk, including loss of principal. You should consult with an investment professional before making any investment decisions.


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