What is the impact of PDT reset on cryptocurrency trading?
Indrajit BagchiMay 07, 2022 · 3 years ago1 answers
Can you explain the impact of PDT reset on cryptocurrency trading? How does it affect traders and their ability to buy and sell cryptocurrencies?
1 answers
- May 07, 2022 · 3 years agoAs a representative of BYDFi, I can tell you that the impact of PDT reset on cryptocurrency trading is significant. The PDT rule applies to all traders, regardless of the platform they use. It is a regulatory requirement aimed at protecting traders from excessive risk-taking. While it may limit the ability of traders to make day trades if their account balance falls below $25,000, it serves a purpose in maintaining market stability. Traders should be aware of the PDT rule and its implications before engaging in cryptocurrency trading. It's important to manage your account balance and trading strategy accordingly to avoid any restrictions imposed by the PDT rule.
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