Do your Open Orders count toward BP? Because my company would allow me to have lots of orders out even though I only had 50k buying power, but sometimes I would have 400-600k in open orders. Now my company is saying that they have to count open orders in BP which screws up some of my strategies. I use Sterling Btw. Is this normal? Can my company do this? Don Bright do you count open orders towards BP? With some of your OO guys they would need 10's of million of dollars in BP
Yes they can. Title works that way. So does Swift. I like it better when they only count actual positions (that's how it works for me anyway). They are most probably switching you because you routinely bust your BP with open positions. BTW, how long have you been trading ? 50k is quite low, you should have access to more than that if you have some experience and a decent track record.
We don't really worry about open orders, heck half of them are likely to be closing or proper entry points on pairs etc. Same with the pre-market opening only orders, we allow much more in open orders because we understand the realities involved (such as, you send in 100K shares to buy, 100K shares to sell short... well, you're not going to get filled on both sides, unless you trade with yourself, LOL). We focus on risk, not so much capital use. Retail type firms, on the other hand, do have to count all open orders (as I understand it). Don