Comment Text:
i0-001
COMMENT
CL-03677
From:
Sent:
To:
Subject:
Christina Reeves < [email protected] >
Monday, January 25, 2010 1:59 AM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
RIN 3038-AC61
Ido not believe it is beneficial to lower the leverage from 100:1 to 10:1. Good traders do not risk
in excess of 1-2% anyway. The 100:1 leverage allows people to keep the majority of their money
in a safe (think Refco), interest bearing account that has FDIC protection, while still being able to
profit from moves in the forex market.
The last rule you passed ended up requiring brokers to stop allowing stop orders to be entered on a
pending limit order. That was the most ridiculous thing I had ever heard. How is it protecting the
trader by forcing them to place a pending order that then has to sit there naked because they can't
have a stop attached to it. In an effort to protect their assets, many were forced to move their
brokerage account toa foreign country. This proposed new ruling will have a similar effect and
push more people to move their accounts to other countries.
Please consider the traders and the effects of your decisions with this ruling.
Thank you,
Christina Reeves
Hotmail: Free, trusted and rich email service.
Get it now.
