Comment Text:
i0-001
COMMENT
CL-05301
From:
Sent:
To:
Subject:
Ben Smith
Wednesday, February 10, 2010 11:44 AM
secretary
Regulation of Retail Forex
RIN 3038-AC61
The new rule change causing a ruckus across the forex industry is to set maximum leverage to 10:1 for retail forex traders in
the US...
I'm feeling a bit tom about this because I'm all about traders not over leveraging their positions, but I'm also about giving
those traders who know how to control and manage risk the choice and ability to increase their position size if a trade goes
their way.
Also, if this rule does go into effect, it may hold back those new traders who have developed a profitable system and the
discipline to manage risk, but have low starting capital, from getting their feet wet. Unfortunately I fall into this category.
In my opinion, this is a case of "over regulation," and that "education" for traders is a better solution so that the few who don't
know what they're doing with leverage doesn't ruin it for the rest of us who do. The United States of America is the land of
the free, where each forex trader should be able to make their own educated decisions about their money and take
responsibility for their own actions, right?
Thank you for your time,
Ben Smith
