Comment Text:
i0-001
COMMENT
CL-05939
From:
Sent:
To:
Subject:
[email protected]
Thursday, March 4, 2010 8:19 AM
secretary
Regulation of Retail Forex
Mr. Secretary
Please leave the current leverage ratio unchanged at 100:1. I am a new FX trader (4 months) but understand
fully what leverage can do to for me. I trade on the Forex.com platform and they have been fully supportive of
teaching the disciplines of managed leverage. I feel that seasoned traders as well as newcomers will respect
100:1 leverage if they are taught how to use it carefully. Its a usefull tool that doesn't have to be used but is
available at all times.
I started my account with $500 and without leverage I wouldn't be able to put my protective stops far enough
outside of the volatility. I woud surely get stopped out every trade and thus my account would be $0. Another
protective tool is the margin sell requirement in that the broker has the right to close trades to satisfy margin calls.
In closing, I feel that forcing education on the use of leverage is a better way to protect the trader, rather than
taking away the tools.
Thank You
Tim
