Comment Text:
i0-001
COMMENT
CL-05735
From:
Sent:
To:
Subject:
Seung Kim
Wednesday, March 3, 2010 7:23 PM
secretary
Regulation of Retail Forex
To Whom It May Concern:
I have been trading currencies as a Forex trader for nearly 6 years. While the 100:1 leverage may seem
excessive to the outsider, it is not the actual amount of available leverage that is dangerous, but the
amount that one actually employs when trading. For example if I lever my $1 account to $100 but only
invest $0.50 then I'm in a much safer position than ifI lever my $1 account to $2 and invest all $2. Only
a novice trader that has not done his diligence would fully use up the amount of available to him.
I am currently a full time trader and my livelihood depends on the use of leverage in the Forex market.
While the recent financial crisis has had people hounding for more regulations, regulating the leverage
of OTC Forex would do nothing more but hurt traders that depend on Forex for a living.
Sincerely,
Seung Kim
