Comment Text:
i0-001
COMMENT
CL-05447
From:
Sent:
To:
Subject:
Eric Morin
Thursday, February 18, 2010 3:57 PM
secretary
Regulation of Retail Forex
My name is Eric and I am a trader on the Forex Market.
My address and contact information:
Eric Morin
250 181st drive #111
Sunny Isles Beach, FI 33160
I can be reach at email: [email protected]
Me, Eric Morin, I am opposed to the proposal that would restrict available leverage to 10:1 even for the most
widely traded currency pairs and will be actively lobbying against it.
I know as a trader that leverage is risky. That's why it is important as a trader to adopt good money management
when trading. In my case I use discretionary money that I have saved over the years. As an adult, I know what I
am doing, I take calculated risk, I protect myself with protective tool (Stop/limit), but if it happens that l loose on
one trade, I don't loose all my money. Anyway, this is discretionary money, so, I do whatever I want with it.
May be some people in the past have lost their savings by over leveraging their trade and taking a wrong trading
decision with no protection. In that case the problem is not the leverage ratio; it is only a matter for the person to
question themselves about how much money they can loose. This is a risky business; the problem is not the
leverage. You can not regulate the stupidity. If somebody decides to use the food money to trade on Forex, the
problem is not the leverage. The problem is within the mind of that person.
Probably this market is not for everybody, make sure that they are adult and they have red the notices, that
appears everywhere on the trading websites. It is posted everywhere. Those notice advertise the fact that this
kind of market is risky and they can loose all the money in one trade. If they don't have the money to do it and
decide to do it anyway, that's not my problem and I don't want to be affected by the bad decision of a few
peoples. I don't want a regulation that modify my trading habit only because a few people can not live with it. I am
opposed to this regulation.
Thanks,
Global Beauty Collection
http ://www.globalbeautycollection. com/
