Comment Text:
i0-001
COMMENT
CL-01798
From:
Sent:
To:
Subject:
Todd Tolman
Thursday, January 21, 2010 12:12 PM
secretary
Regulation of Retail Forex
To Whom it may concern at the CFTC,
I'm a retail Forex trader, and I understand there is talk of limiting leverage to 10:1 (RIN 3038-AC61). Although I
typically trade very conservatively by using mini lots and keeping my exposure very low compared to my equity
(less than 1% on any trade), I find it this limitation destructive to the Retail Forex market which I depend on for a
major portion of my personal trading portfolio.
I'm assuming the public argument for this enforcement is to protect the poor, little retail trader that does not
know what he's doing. Protecting the innocent could be better served by routing more resources to public
education of the risks of leverage and uncertainty in markets, l'm certain the real reason for advancing this rule
is to protect the big trader and make it harder for the little guy to compete in the market. At least this seems to
be the trend of regulation in general throughout modern economic and financial history.
Please, allow the little to guy to risk and compete. In the long run these smaller players are the ones that provide
innovation to the industry and keep the big guy in check from abusing his power. Think about it.
Thanks for your consideration.
Todd Tolman
801.651.1790
