Comment Text:
i0-001
COMMENT
CL-04829
From:
Sent:
To:
Subject:
Darren Tseng
Wednesday, February 3, 2010 4:49 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
Hello,
My name is Darren Tseng and I have been a forex trader for 4 years. I'm an undergraduate at the University of
Massachusetts Boston and I believe that decreasing forex leveraging to 10:1 will be a huge detriment to my life. The
only income I receive is from forex trading and I need it to survive and finish school so that I can go forth with my
start up that I am working on. I am also a young entrepreneur working on a start up non-profit charity organization.
As a trader, I understand the risks of high leverage and how it can wipe out traders, but this is due to their lack of
education and ultimately their responsibility. Since I have started trading I've never wiped out my account through
over-leveraging positions. Also if this were to occur, traders would move their accounts overseas. Wouldn't this also
be detrimental to taxation?
Thank you,
Darren Tseng
