Comment for Proposed Rule 75 FR 3281
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From:
Jimmy P
Organization(s):
Comment No:
2993
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02993
From:
Sent:
To:
Subject:
Jimmy P.
Friday, January 22, 2010 7:56 PM
secretary
Regulation of Retail Forex
Hi,
I am writing in concern about the new proposed rule of 10:1 leverage. I understand that it will help new
traders from draining their accounts quickly - but at the end I am sure they will be drained whether they
are using 500:1 or 1:1 leverage.
For those that practice money management, it does not matter if what leverage we use, as we will keep
our risk the same. However, if our leverage isn't high enough, we cannot even open maybe more than 2
trades at once, which is a serious problem for some. Not being able to open a new trade when my other
trades are already at break even is a huge disadvantage. It is also a disadvantage for those who scale into
trades.
I strongly urge the CTFC to reconsider.
Regards,
Jimmy
