Comment Text:
i0-001
COMMENT
CL-00202
From:
Sent:
To:
Subject:
adam thomas
Saturday, January 16, 2010 7:22 PM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex
Hello,
My name is Adam Thomas and Iama retail forex trader based in Ohio. I greatly appreciate many
of the additional safety features the CFTC is considering implementing
RIN 3038-AC61.
The
registration of the FCM's and RFED's is an excellent means of eliminating scammers from the
market. They are certainly our biggest threat.
That being said Iam opposed to limiting the leverage to 10:1. This is far too restrictive and will
eliminate many of the forex traders from the market due to the increased amount of capital it will
take to place trades that will be worth our time and effort. As an alternative I would propose a
100:1 ratio and/or making risk management information more readily available to traders (require
all brokers to make risk management tools and training available and/or publish a risk
management document through the CFTC or NFA).
I have personally been trading for less than a year and have been able to effectively manage the
risk within my account to minimize draw down and maintain a positive cash flow within the
account. The tools to learn risk management practices are currently widely available free of charge
on the internet already.
I appreciate your consideration.
Adam Thomas
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