Comment Text:
io-ooi
COMMENT
CL-00351
From:
Sent:
To:
Subject:
Patrick Smith
Monday, January 18, 2010 3:56 PM
secretary
Regulation of Retail Forex
Re; RIN 3038-AC61
Regulating the FX market by reducing the leverage to 1:10 in the U.S. is not going to help the United States or do
anything to help FX traders. Leverage is one of the things that allows retail traders to get started in the market
without huge funds. By using proper stops and only using a small % of their account per trade they are protected. A
smaller leverage means the new trader will not have enough funds in their account to even get started trading.
Those traders who use proper stops are not hurt by leverages of 1:100 or even more. Traders who do not use proper
equity
management
will be bad traders and lose their account even with a 1:10
leverage.
By enacting a lower leverage amount you will just drive the trading community outside the United States.
Sincerely,
Click
the image below-to access my website!
Patrick@ PatrickSmith Realty.com
1079 Sunrise Ave. Suite B329, Roseville, CA 95661
Mobile: (916) 223-3541
Fax: (800) 646-8119
Patrick Smith, Broker
California DRE#
01013162
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