Comment Text:
i0-001
COIMMENT
CL-06286
From:
Sent:
To:
Subject:
Noel Stenoien
Friday, March 5, 2010 5:12 PM
secretary
Proposed 10:1 Leverage- Forex
My Wife and I, Ages 72 and 75 respectively, have traded Forex for the past 5 years. We never invest
more than 1% of our account on a single trade and use appropriate stop losses as protection. We have
never had a significant account draw-down during this time.
Trading Forex is more than a way of making money for us. It is an established medical fact that keeping
your mind active with an interest that you enjoy is a hugh preventative of Alzheimer's disease.
For us, it is a life saver.
We could not comfortably increase our trading account ten-fold in order to trade as we do now, and
lowering our transaction size to 1/10th of our current trade size would definitely limit the challenge and
the stimulation of trading.
To us, this is just another case of the Government knowing what is best for us and, like most
government control matters, it will have unintended consequences. In our case, we will lose the
enjoyment of trading, will stop trading, and will most likely become blithering idiots.
Quoted statistics remind us that only 5% of Forex traders are successful. Successful means that they
trade Forex for a living.
There are a hugh number of us who could never make a living from our returns from Forex but have
found a way of life that we totally enjoy. I can't quote a statistic but I would venture to say that it is a
healthy number of us that fall in this category.
Please don't "fix" something that doesn't need fixing.
Noel and Jan Stenoien
San Antonio, Texas
