Comment Text:
i0-001
COIMMENT
CL-06606
From:
Sent:
To:
Subject:
ken aucremanne
Monday, March 8, 2010 8:13 PM
secretary
Regulation of Retail Forex- An American Sailor's Perspective
To Whom it May Concern:
I am adamantly opposed to the current proposal to limit retail forex leverage to 10:1, as this proposal
puts uneccesary restrictions on beginning traders, like myself, who are operating in this market.
We are all inherently aware of the risks presented to us regarding significant leverage, however we
continue to want to trade, and by allowing 100:1 leverage, we are rewarded with higher gains to offset
the wider spread offered by retail brokers, with the upside that it's currently impossible to lose more
money than the balance of the account.
Limiting leverage to 10:1 for retail accounts would effectively wipe out an entire sector of brokers, as
well as consumer-investors that are in this for an education, with the target of creating an effective long-
term investment strategy. Limiting the American market would not stop the practice, it would simply
drive us all to invest our funds with overseas brokers who are not under the regulation of the United
States
If the retail foreign exchange market resembled the futures market with the risk of losing more than just
the account at hand, this point would be a moot one. However, we as beginning/hobbyist investors are
enabled an incredible opportunity today with the availability of such leverage, and anything less would
make this sector far less attractive.
So, please let a shipmate develop his investment plan, would ya?
SN Ken Aucremanne, USN
Arabic Linguist, CIDD Monterey, DLIFLC
