Comment Text:
i0-001
COMMENT
CL-06487
From:
Sent:
To:
Subject:
Daniel
Sunday, March 7, 2010 3:51 PM
secretary
Regulation of Retail Forex
Hi
I've noted the proposed changes to retail Forex from 100:1 to 10:1. As a former forex trader, albeit regrettably, and looking to go back
to trading forex someday, these changes would make it impossible for me to start trading forex anytime soon. I will have to go to other
trading possibilities. With todays trading environment, going from 1:1 as with stocks and their assorted rules for taxes, to futures with
their 10:1? Ratio, Forex was a godsend in that I could get started for $400 at my favorite broker. These proposed changes will force
me to shelve this option until I make something more significant elsewhere. Retail forex is a tough business, I'm a genius at paper
trading, but not so much with an actual account. I was looking forward to going back in within the next 24 months after I had built up
my trading accounts again at the 100:1 leverage. Please reconsider this move and leave the American brokers with the option of the
100:1 leverage, it will be a welcome way to diversify our trading capital. Thanks but no thanks to protecting me from myself if I trade
badly in this arena again.
Sincerely,
Daniel Hinz
