Comment Text:
i0-001
COMMENT
CL-05409
From:
Sent:
To:
Subject:
srharris@mindspring, com
Tuesday, February 16, 2010 5:12 PM
secretary
Public Comment Form
Below is the result of your feedback form. It was submitted by
([email protected]) on Tuesday, February 16, 2010 at 17:11:44
commenter_subject: Retail Forex transaction leverage ratios
commenter frdate: 3/22/2010
commenter_frpage: 75 FR 3281
commenter_comments: Please leave the retail forex transaction leverage
ratios at 100:1.
When you consider that forex trades out to 4
decimal places, that international currencies have
a very short history of going "bankrupt",and that
the forex pairs are traded in relative value one to
the other the actual percentage movement of one
pair is relatively small compared to the actual
potential movement of a NY stock exchange stock.
Stocks post 9-11 dropped 25%. The currancy of the
United States has never in my experience dropped
25% in a morning. Enron, WorldCom, AIG, and others
have gone to nothing. What is the actual risk
valuations there? The routine use of bracket OCO
orders with their included stop loss in a market
that does not close 5 days a week and present gaps
like the NY stock exchange limits relative losses.
I have lost much more in the "regular" market by
large moves in price by an individual company and
had no limit to how much exposure I had to that
stock. I am much more comfortable with a trade in
the EUR/USD than a trade in Apple. Who knows what
those executives will say by the time the market
opens tomorrow?
Please leave the current retail forex leverage
ratios at the current levels.
Thank you,
Stephen Harris
commenter_name: Stephen Harrisi0-001
COMMENT
CL-05409
commenter ~vithhold address on: ON
commenter addressl: 353 Montabello
commenter_city: Bloomingdale
commenter state: IL
commenter zip: 60108
commenter~hone: 6309801049
