Hello,
since yesterday my app spits out some errors that it cant open positions due to insufficient buying power. This is the API response error:
“StatusCodeError: 403 - {“code”:40310000,“cost_basis”:“149898”,“daytrading_buying_power”:“60783.8252”,“message”:“insufficient day trading buying power”}”,
That confuses me big time as my account information shows these values
“buying_power”: “220437.348”,
"regt_buying_power": "220437.348",
"daytrading_buying_power": "60783.8252",
"cash": "-5206.326",
"portfolio_value": "225643.674",
"pattern_day_trader": true,
"trading_blocked": false,
"transfers_blocked": false,
"account_blocked": false,
"trade_suspended_by_user": false,
"multiplier": "4",
"shorting_enabled": true,
"equity": "225643.674",
"last_equity": "175150.71",
"long_market_value": "230850",
"short_market_value": "0",
"initial_margin": "115425",
"maintenance_margin": "173137.5",
"last_maintenance_margin": "100491",
"sma": "3504.364",
"daytrade_count":
According to the docs day_trading_buyingpowr is 4 ( last_equity - last_maintenance_margin) which in my case is 4*(175175.71 - 100491) which is roughly 298K.
So my BP was enough to open the position which said cost basis 149K.
Please someone explain why this happens as I cant find out the reason for it and it really annoys me losing money cause of wrong calculations.
Regards