Comment Text:
i0-001
COMMENT
CL-02309
From:
Sent:
To:
Subject:
Ambur Ventures
Thursday, January 21, 2010 9:55 PM
secretary
Regulation of Retail Forex - ID# R1N 3038-AC61
David Stawick, Secretary Commodity
Futures Trading Commision 1155 21 st Street, N.W.,
Washington, DC 20581
Fax: (202) 418-5521
Reference: ID# RIN 3038-AC61
Dear Sir,
I am deeply concerned about the U.S. Commodity Futures Trading Commission (CFTC) announcement
on January 13, 2010 that it is seeking to change the leverage regulations concerning retail Forex trading.
Like me when I first began in 2005, many Retail Traders, do not understand "Margin" and overtrade.
What I mean is they trade too many lots and wipe out their account. It happened to me. It is only with
education that a novice learns not to overpose themselves. By changing the leverage rules, you are
affecting the lives of many, now-experienced traders - who understand that overexposure is risky,
leverage is not. I personally think a 1:100 or even 1:200 is perfectly fine. Rather, I would have
individual brokers limit their "leverage offering" to novice brokers and not change the existing leverage
for retail traders.
I strongly urge you
not to change
the leverage in retail forex customer accounts to the lO-to-1
limitation. I firmly believe that traders should be given the freedom and right to choose the amount of
leverage that is appropriate for his/her individual desired risk, and that this basic principle of 'choice' is
in jeopardy by the proposed CFTC regulations.
Thanks - Mark
Too busy to be sad,
too positive to be doubtful,
too optimistic to be fearful
and too determined to be defeated
