Comment Text:
i0-001
COMMENT
CL-00306
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Sent:
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Subject:
Nick Samaroo
Monday, January 18, 2010 9:45 AM
secretary
Regulation of Retail Forex
RIN 3038-AC61
This proposal would hurt many of us traders, myself included, even though we use leverage
responsibly. If I have a $10,000 account, for example, a very safe and small amount to risk
would be $200, or 2%. So with a 20pip stoploss, at 100,000 units of currency, I'd be risking this
2%. Now if that trade takes a loss, even though im only down 2%, I can no longer trade the
same unit size. Also, I would be unable to have more than one trade open at a time, which is
detrimental to a daytrader such as myself.
Please, if you'd like to crack down on the market, regulate the advertising of services/products
to cut the false hope and gimmicks out of the market. But don't cut the leverage, that may on
one hand hurt the uninformed trader, but also hurt those of us who know how to use it
properly and responsibly to achieve our goals.
