Comment Text:
i0-001
COMMENT
CL-00686
From:
Sent:
To:
Subject:
Dave Roust
Tuesday, January 19, 2010 3:52 PM
secretary
Regulation of Retail Forex
RE: R1N 3038-AC61
To Whom It May Concern:
This is in reference to the proposed 10:1 leverage that you want to place on retail Forex accounts. I am a
small time Forex trader. I have been trading live for almost a year now. I practiced and studied for two
years before going live, One important thing I learned in my studies and practices is that Money and
Risk Management is the key to try to make a living at trading Forex. I realize that 100:1 leverage can be
dangerous when you don't know how to use it, but when used appropriately, it is essential when trying to
make a living and dealing with limited capital.
If this proposal goes through, it WILL put me and many other Forex traders out of business, unless they
can now multiply the size or their accounts 10 times to be able to trade at current levels with the same
risk. I am unemployed and can no way afford that. Not to mention the US brokers that will also go out
of business. More unemployment, just what the country needs.
This proposal punishes the responsible traders out there. Is this fair?
For people that will want to continue trading Forex, it will encourage them to move their accounts off-
shore to find more favorable trading conditions. Although, sending my money to another country is not
what I feel comfortable with, this change will just put me out of business.
Thank you for acknowledging my concerns.
David Roust
Minneapolis, MN
