If I'm reading this correctly at the end of the month the ASIC [Australian] margin requirements change to 2:1 for cryptos.
Does this mean then, if bitcoin is $50k, and my account has a balance of $50k and I had 2 BTC if the price went against me
my trade will be closed? Friggin annoying...no doubt this change is to "help" me, but it means I will have to scale out of trades by the end of the month
to manage the risk of my trades being autoclosed. It's annoying having big brother decide what's best for me again! I don't think I can qualify for a pro trading account.
Does this mean then, if bitcoin is $50k, and my account has a balance of $50k and I had 2 BTC if the price went against me
my trade will be closed? Friggin annoying...no doubt this change is to "help" me, but it means I will have to scale out of trades by the end of the month
to manage the risk of my trades being autoclosed. It's annoying having big brother decide what's best for me again! I don't think I can qualify for a pro trading account.