Comment Text:
i0-001
COMMENT
CL-02574
From:
Sent:
To:
Subject:
[email protected] on b ehalf of
Juan P. Bej arano
Friday, January 22, 2010 10:10 AM
secretary
Regulation of Retail Forex
To whom it may concern,
First I would like to thank you for trying to regulate the U.S. retail
forex market. I personally think you are making a big mistake and this
will create bigger losses to retail traders.
By implementing the 10:1 regulation you will create a bigger risk on
open positions. When, for example, you know the trend of the market...
you sell EUR/USD and goes against you, you could open another sell
position at higher price and mitigate the pressure...
By putting the 10:1 leverage, traders will not be able to correctly
MANAGE trades and this will create bigger losses which turns into
bigger gains for the Retail brokers. And we as traders do not want
that.
There are serious risks about this implementation. Traders will not be
able to open multiple positions and creates bigger risks.
What you could implement is having Retail brokers offer leverage
options from 10:1, 25:1, 50:1 and 100:1 Max, and each individual
client could manage different trades with different leverage.
Please keep United States, the TOP in the world in Finance! Although I
do understand your concerns and regulations, Please value it from an
account management point of view.
This rule will ultimately create bigger losses: Not only for
individual traders but for the country as a whole. Force retail
brokers to offer other leverage options BUT PLEASE do not make this
effective.
How can traders MANAGE funds like this?
Thank you.
Juan Bej arano
