Comment Text:
i0-001
COMMENT
CL-05315
From:
Sent:
To:
Subject:
Jose Harvin
Wednesday, February 10, 2010 11:30 PM
secretary
Regulation of Retail Forex
regarding- RIN 3038-AC61
Hi there,
As a retail investor I am requesting the 100:1 leverage remain.
The 100:1 leverage reduces my chances for a margin call. The 100:1 leverage allows my stops to be
wider. I base my trades on a maximum % of account at risk on any given trade- usually 3%. So baseed
on the amount of pips needed to place a logical stop I then claculate how many lots I can place and
remain within my 3% of the outstanding account equity on any given trade. This risk management is
key to keeping in the game and out of trouble on risking more than I am willing to.
Maybe the CFTC can implement a required 8 hour course on forex basics and risk managment and an
bi-annual (2 years) refresher on risk management and required code of conduct by IB's, FCM's, and even
the retail traders. You will force everyone involved to become educated about the business.
This will create regulator jobs in getting all the companies and retail people licensed to trade Forex and a
the same time educating our country on the importance of being literate about the value of the dollar and
the value of other world currencies.
Those are my thoughts.
