Comment Text:
i0-001
COMMENT
CL-04760
From:
Sent:
To:
Subject:
John WillIiams
Monday, February 1, 2010
8:01 PM
secretary
'Regulation of Retail Forex'
RIN 3038-AC61
Dear Secretary,
Lately I was informed by my broker that new margin requirements were being
discussed. Limiting leverage to 10:1 will prevent me from trading. It will surely also harm my broker and all othe brokers
offering FX
as a trading product. I don't understand why regulators want to protect traders
from themselves. As a retail trader, if I fail,I only have myself to blame.
As I recall I had to so sign some document verifing I understand the risks involved in FX trading when opening my account
with my broker. There is no
reason to protect a trader from themselves. Those traders that don't apply
appropiate risk management will not be trading long at all. Let the market
solve the problem instead of appling some regulation that causes more problems
then what it was intended to fix.
Thank you for your time.
Sincerely
John Williams.
