Comment Text:
i0-001
COMMENT
CL-03904
From:
Sent:
To:
Subject:
Richard Lis
Monday, January 25, 2010 8:25 PM
secretary
Regulation of Retail Forex' RIN 3038-AC61
I am writing in regards to the proposed regulation on Retail Forex, RIN 3038-AC61. I would like to
voice my objection to regulating the leverage of retail traders. It is the traders responsibility to
determine their risk and to implement the correct money management strategies. It has been proven
over and over that with out correct money management traders will lose money not matter if they trades
FOREX, stocks or commodites. Therefore FOREX traders should have the right and freedom to choose
their leverage. By reducing the leverage a trader can use will reduce their profit potential which hurts the
traders bottom line.
It seems many of the regulations implemented by the CFTC have hurt the retail trader instead of to help
them like removing the use of stop losses. Why would you remove stop loss which were meant to
protect a trader from having major losses. Why would you stop a trader from placing hedges on their
trades, this is a valuable tool for many traders. Please do not intact another rule that will hinder the retail
trader from being profitable.
Regards,
Richard Lis
Orlando, FL
