Comment Text:
i0-001
COMMENT
CL-04401
From:
Sent:
To:
Subject:
Bob Peel
Thursday, January 28, 2010 7:11 PM
secretary
'Regulation of Retail Forex'
Dear Sir/Madam,
With respect to the proposed reduction of leverage in Retail Forex from 100:1 to 10:1 please note the following
comments:
All Retail Traders 'freely' choose to trade their 'own' capital knowing the inherent risks...
All Forex Brokers do provide the option for Retail traders to trade with lower leverage ratios, the 'free'
choice is available to each individual trader.
If you want to protect 'novice' Retail Traders, then I can see the sense of the proposal: like novice
motorcycle riders, they have a probationary period before moving onto very powerful machines.
Each Forex trading platform has the facility to exercise protective stops, which with good money
management techniques can protect the Retail Trader from all large drawdown's.
This issue should always be a mater of 'free' choice, for the individual in a 'free' country.
Retail Traders are adults (usually successful Type A personalities), not children that need protecting from
themselves and society.
Please do not abuse the most basic premise of the USA Constitution, 'freedom of choice'...
Robert Peel
A Retail Trader for 7 years...
