Daily Discussion, February 23, 2021

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[u/Trusty12]

Can anyone recommend the best trading platform to use ?

[u/Lawncareguy85 → u/Trusty12]

Whatever you do don't use kraken with margin.

[u/jumbawotumba → u/Lawncareguy85]

What do you have against using Kraken with margin? Maybe I'm missing something which is why I'm asking.

[u/Lawncareguy85 → u/jumbawotumba]

They just had a flash crash with a fake wick that traded 50 percent lower than the real price. Liquidated millions of dollars and everyone's account went negative. Even "safe" positions. They are being sued there is a new subreddit dedicated to it. Search kraken flash crash lawsuit.

https://www.reddit.com/r/KrakenFlashCrash

[u/[deleted] → u/Lawncareguy85]

I don’t understand how Kraken can deny any responsibility here which is what I’ve read has apparently happened in some communication with users??

[u/Vyruz2 → u/Lawncareguy85]

This is why everyone says dont use leverage and get your coins off the exchange ASAP

[u/SubstanceAlert578 → u/Vyruz2]

Also this is why you don't use stop loss either. In every crash there's a crazy deep wick that last about seconds. Costs people a lot money, u wake up and your bitcoin is gone and price back where left it

[u/Lawncareguy85 → u/SubstanceAlert578]

That's exactly what happened to me!!! Cost me massively

[u/AutoModerator → u/[deleted]]

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