Comment Text:
i0-001
COMMENT
CL-05338
From:
Sent:
To:
Subject:
Lee, Seon J 2LT MIL USA EUSA
Friday, February 12, 2010 1:04 AM
secretary
Regulation of Retail Forex (UNCLASSIFIED)
Classification: UNCLAS SI~'IED
Caveats: FOUO
Dear Sir/Ma'am
While the proposed change of the regulation in general provides a sound support for the retail customers and
readily aimed at creating healthier transactions by protecting the interest of clients, I have doubt on planned
Regulation 4.12-Exemption from provisions of part 4, which restricts security deposit to a minimum of ten (10)
percent of fair market value on retail Forex transactions.
As a customer myself for more than four (4) years in this risky business and having had couple of situations
where I have lost all of my gains as well as initial capital, and still being at multiple times of stressful situation, I
know I could be successful without being reckless and luck-based gambler.
One should realize the potential of being able to trade with enormous amount of capital without necessarily
having a significant initial amount of money, which in my opinion gives the general public a great opportunity to
participate in this type of economic activity without leaving all of its benefits in hands of more affluent and
corporate level customers.
The beauty of leveraged capital in Forex is that power which enables small retail customers to conceive big,
realize their own potential as well as, its responsibilities and consequences that comes along with it. It is the
responsibility of each individual to realize the leveraged market's potential and damages to personal account
when executed improperly.
Restricting the leverage as mentioned in the proposed change will reduce the endless potential of the current
market norms and increase hindrance for the participation of the general public.
After having had all those years of ups and downs in this market with different level of leverage, I found a
comfortable leverage level for my trading style provided I have many options to choose from. Giving that
opportunity and leaving that ability of self correcting of leverage levels to each individuals will make the market
be more aware of cost and reward and, consequently be more responsible of one's action. Freedom of choosing
what each individual wants from the market will be more productive in shaping toward safer economic activity
than restricting it to the point where strict rules may diminish the will of people to actively engage in those
activities, leading to free flow of capital and depressing the market itself.
Thank you for your consideration and your endless support to the public in general.
2LT LEE, SEON
1ST FIRES PL
A BTRY 1-38 FA
Classification: UNCLAS SI~'IED
Caveats: FOUO
