Comment Text:
i0-001
COMMENT
CL-04886
From:
Sent:
To:
Subject:
[email protected]
Wednesday, February 3, 2010 10:04 PM
secretary
Regulation of Retail Forex
I am writing to express my concern over the subject proposal that would restrict leverage in there FOREX
market to 10:1 compared to the current 100:1. This would effectively end my FOREX trading career. I am
now able to trade with limited risk as I trade either small number of mini-lots or even micro-lots. As such, I am
limiting the amount of potential loss to a level that will not hurt me if a trade goes bad. Clearly this also limits my
profit potential but, to date, I am able to generate profits to a level that is a nice bump in my monthly income.
If the subject law is enacted, I would be risking too much money on every trade and I would simply have to
discontinue my trading activity.
I've heard that the intent of this law is to protect investors from themselves. Well, I am trader and I do not need
for the government to protect me. I make my own decisions and I will live with those. Traders who "blow their
account" because they over leverage it are simply making bad decisions. Why should I be done harm because
of these people.
I urge you not to pass the subject law. You will be doing a grave disservice to those of us who successfully
trade and know how to discipline ourselves with sound money management.
Thank you for the opportunity to express my concern
Charles Morarity
[email protected]
