Comment Text:
i0-001
COMMENT
CL-01680
From:
Sent:
To:
Subject:
Takahisa Yamaoka
Thursday, January 21, 2010 9:58 AM
secretary
Regulation of Retail Forex
RIN3038-AC61
Dear Mr/Mrs Secretary
Leverage is not the reason people lose money trading Forex. This proposed reduction of trading
leverage is a complete regulatory over reaction. I
strongly disagree with this anticipated
directive.
As a professional forex trader and mentor to several hundred retail traders I can say first hand that
inadequate technical ability, a failure to exercise sound money management and poor trader psychology
are the predominant reasons retail traders lose money. Reduced leverage will only mean people lose
larger amounts of money as they try to match the 100:1 leveraged results. Additionally this legislation
will force more money to be traded in off shore accounts further depleting our US markets.
I hope that common sense prevails and our current leverage parameters are maintained at 100:1. Please
accept this letter as my vehement opposition to R1N 3038-AC61. I look forward to you supporting this
position.
Sincerely
Takahisa Yamaoka
