I have a day trading strategy that also holds assets overnight. The issue with this strategy in Alpaca is that if you are trading leveraged products (which I am), the platform will not allow you to open or close trades if you were 100% in a position from the previous day due to the fact that they do not recalculate day trade buying power after trades have been closed (even if you do not have any open positions anymore).
For example, lets say my account is 100K, and I bought 100K of TQQQ today. Tomorrow, Alpaca would show my day trading balance as 0, even if I liquidate my TQQQ position. I have an account with Fidelity that allows for “recycling” day trading balances, and recalculates this balance if I close positions, so I can tell this is a decision on the Alpaca side.
Has anyone here ran into the same issue and found a solution to always remain 100% invested despite this? Also if an Alpaca team member responds to this, would you guys please consider using the same methodology that Fidelity & TD Ameritrade use to recalculate Day Trading Buying Power after positions are closed mid day?
Thank you.