Margin trade on GDAX with NO RISK!!

So it's official.

You can now trade irresponsibly on GDAX, with practically no risk!!

The joy of playing roulette with an insurace policy!!

What on earth am I talking about?

I'm talking about GDAX's response to this event...

As they explain in their blog post, GDAX experienced a flash crash...

A whale sold multiple millions of dollars worth of ETH which sent the price plummeting from $317.81 to $224.48.

This then caused a "cascade of approximately 800 stop loss orders and margin funding liquidations, causing ETH to temporarily trade as low as $0.10" !!

The result?

A hard lesson for all new investors. BE VERY CAUTIOUS about taking on risky margin positions and stop losses!!

Well apparently not.

Why?

Because GDAX issued another blog post, in which they are now issuing a bail out to the risk laden traders that got burnt!

“We will establish a process to credit customer accounts which experienced a margin call or stop loss order executed on the GDAX ETH-USD order book as a direct result of the rapid price movement at 12.30pm PT on June 21, 2017. This process will allow affected customers to restore the value of their ETH-USD account to the equivalent value of their ETH-USD account at the moment prior to the rapid price movement.” – GDAX

This is utter insanity. But if there's profit to be made, with an insured downside, maybe I'll just jump on in there too!!

Disclaimer: I am not a financial adviser. This is post is intended to be somewhat tongue in cheek. I do not advocate risky trading and there is no guarantee that if there was another flash crash, GDAX would bail out those who got burnt.