Comment Text:
i0-001
COMMENT
CL-03547
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[email protected]
Sunday, January 24, 2010 2:59 PM
secretary
Public Submission for 2010-00456
Public Submission for 2010-00456.zip
Please refer to the attached file.Please Do Not Reply This Email.
Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries:
Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
FR Document Number: 2010-00456
Legacy Document ID:
RIN: null
Publish Date: Wed Jan 20 00:00:00 EST 2010
Submitter Info:
first name Tom
last name Tonelli
address1 1924 Orangeview
city Placentia
country
us state CA
zip 92870
company
Dear Sirs,
I feel that by changing the margin from (in most cases) 100:1 to 10:1 does nothing but favor
the large investor. It will ruin my trading with Oanda (although only 50:1). The leverage
allows for risking a little to gain a lot and to put on other transactions in other trades to offset
losers so the overall can be a winner. This will not be possible if margin is lower and all your
money has to go into one or two trades. This increases risk by putting all your eggs in one
basket. What is needed is more education. A stress on education not just a say it and not
enforce it. Margin is great if used in the correct ways. Once again please do not change the
leverage but educate how to use leverage to your advantage. The very least it should be is
50:1. This has worked well for Oanda.
Thanks,
Tom
