Hello All, Recently I started to use the 4X Day Trading power offered by IB. For Example, If My Account has a balance of $30K, they allow me to buy stocks upto $120K. Does any one know if I can buy $120K of Stocks in Pre-Market? If so, Can I sell them at Post-Market? OR I am supposed to use that ONLY during 9:30 - 4:00 PM? Note: I am not going to actually buy this way, just wanted to know how system works.
My guess is pre-market your buying power is set to 4x. However, well before 4pm, your account buying power will reset to 2x. You should call/message them to find out the time it flips, or they will liquidate you.
I think it's 15:40, if you overused your overnight margin, you will get a message to liquidate your positions. You can check it in TWS easily to see if you can hold your positions overnight, go to "Account -> Account Window", if "Special Memorandum Account" is negative, you need to close some of your positions.
If your capital > 100k, you can do 6x in IB. Of course this being ET im surprised some here got enough to meet daytrading 25k minimum