In reference to GDAX trading rules 3.1b,
Geoffrey Byers

Sounds like you might have lost something in this craziness and I’m sorry if so — it was definitely pretty calamitous.

At the same time, having an open order is inherently risky.

Shortly before this crash my friend reluctantly closed a large margin long at a loss.

Their liquidation price was around $125 and they had the full $10k out in margin with ETH as collateral, so had that triggered they would have paid back about 80 ETH — over $24k with ETH at $310.

Absolutely sobering. They consider themselves very lucky for this and plan to consider their exposure more carefully in the future.

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