After traveling over the weekend, I read an email from Ox Securities on Memorial Day. It immediately filled me with fear. It told of changing accounts to a 1:200 margin. The following is what went through my mind after the first email reading:
- All of my accounts were at 1:300 now. I am glad I was not at 1:500. That type of change would put me in really bad shape! I am seeing discussion in the NURP community of many concerned algo traders. Will this put their accounts in an unhealthy position?
- Then, which account do I have that is in possible jeopardy? I do have that Aviator account in the mid-100s margin level. I should probably think about moving some extra funds there.
- When I reread the email, it only mentioned my largest brokerage account. I wiped the sweat from my brow, thinking, “If it is only one account, it won’t affect me much.”
- Then, I logged into all of my accounts. (I have 3 VPSes. The bots with bigger egos get their own.) It seemed pretty clear all accounts have been affected.
- Besides transferring money to the accounts of the bots who are less healthy, I am wondering about adjusting lot sizes. If I have less buying power, I should change my accounts due to the leverage drop.
- Since I just got the email yesterday, I am relying on NURP and EFX to advise on what to do. A very high percentage of US-based algo traders use OX. They collect a monthly software fee to support their customers. They need to advise us of the ramifications of any changes we make to our accounts.
May has been a good month. I can take my foot off the gas and wait for guidance. I will do things that won’t cause harm, but tweaking is above my experience level. Making “easy money” isn’t always easy or stress-free. 😉
