Comment Text:
i0-001
COMMENT
CL-00271
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kim youngblood
Sunday, January 17, 2010 9:04 PM
secretary
Kim Youngblood-Coyle
Regulation of Retail Forex; regulation number R1N 3038-AC61
Regarding regulation number RIN 3038-AC61, I wish to express my opinion that the 10:1 leverage
requirement is unreasonable, and not protecting the average retail investor at all.
One of the attractive features of trading in the Forex Market is that one can learn their craft without
maintaining large account balances. Where else can you learn to trade with an account of a few hundred
dollars? If you overtrade or overleverage yourself you are the only person to blame. You will do that
with any leverage offered until you learn better.
With such a low leverage requirement, it will make it at least 10 times as difficult for most traders to
produce a monthly income. In fact,
the average trader will need to make more frequent trades to
achieve the same level of profit. This in fact increases risk. There are only so many good trading
opportunities in the average session.
Personally, I am happy with 50:1 leverage. I am confident I can handle 200:1 leverage, and I
urge you
to consider 200:1 as the upper limit.
Thank you.
Kim Youngblood
