Comment Text:
10-001
COMMENT
CL-05154
FFoin:
Sent:
To:
Subject:
[email protected]
Monday, February 8, 2010 11:04 AM
secretary
Regulation of retail forex
Hello,
I am disappointed to learn that CFTC is considering a drastic change to margin requirements for retail forex traders (from
100:1 to 10:1). I am a small trader, and have been working for several years trying to develop a systematic, low risk
approach to trading forex that will produce a steady income. Much of that work would go to waste under the proposal. The
proposed change would alter the landscape dramatically and for no compelling benefit that I can see.
I am sure there are traders, especially novice traders, that take unreasonable risks. In my opinion, it is not the role of
regulators to teach proper risk management. My own experience, plus many stories I have heard over the years, tells me that
trading real money and suffering the consequences of bad decisions is the best, in fact the only, way of becoming a successful
trader.
Gregg Richter
Worcester, MA
