$BTC | Square is trending talk of Fed minutes leaning toward an October pause. Bitcoin and the Nasdaq usually read that signal together. On the desk I never traded the Fed meeting, only its effect on financing. A pause does not cut the benchmark the position is charged against. Financing does not pause. SatoshiMacro's guide to trading US shares from Australia puts the ASIC CFD cap at 5:1 and flags overnight financing as the reason these cost more to hold. Add the 0.5 to 1 percent AUD/USD conversion drag and the carry compounds. My read: trade the reaction, do not carry it. A cost mechanic, not a forecast. ASIC brokers still report 70 to 85 percent of retail CFD accounts lose money.
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