SMA number seems wrong at IB

C

conley1

I know I should ask this at IB, but I got tired of waiting in the chat queue this morning and the help here has been great in the past.

I have about $115k in an account, no positions/all cash, and it shows my SMA at around $450. Yes, four hundred and fifty dollars. Only one trade over the last 48 hrs, a round trip on a single CL contract (closed slightly in the green).

Does it make any sense for my SMA to be that low? Is there a way I can see my SMA from prior days? It doesn't make sense to me based on how they say it is calculated. My understanding is that if my SMA goes negative, I'm subject to auto-liquidation. I would hate to take on a significant position next week and have it liquidated if it goes slightly negative. I haven't really paid attention to my SMA in the past but it always seemed to be relatively close to my account balance.

So does this sound like a bug, or something I need to be concerned about?

Thanks in advance.
 
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If the only problem you are having at IB is the SMA you should consider yourself fortunate, but if you want to compare it Freestockcharts.com or various other sites have it so you can compare. But in general TWS is garbage, i emailed their management and no one even responded, if you have any other options id suggest you try it.
 
No fear.
Here's an option traders view:

First, notice the differences between the commodities and the US Securities columns. This is also the difference between the CFTC and the SEC. Always keep that in mind.

Net Liquidation Value is your boy. Everything else in Balances should mostly be ignored. Why? Because 1) you should not be looking at this shit to begin with -- you should be trading. 2) You only look at this in an emergency, or when your survivors come to claim your account. In either case, the question is, "What is the value in the account, should everything be flushed right this minute?" Answer: Net Liquidation Value.

(You'll know you're progressing in your trading when you can say, "Net Liq." without a little inward giggle.)

Because you know Net Liq., you only need to know what you have @Risk from there -- "Current Maintenance Margin" -- how deeply your ass is in the wind. There are plenty of variations there, and of course a CFTC/SEC split. But it's the total you (generally) need to know.

Available For Trading: if you can't subtract Margin from Net Liq. to get Current Available Funds, you have this whole section. But don't be confused by the myriad offerings here, either. If they help, use 'em -- else, focus.

Put these three on your Dashboard.

VERY BEST WISHES, too.
 
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