Comment Text:
i0-001
COMMENT
CL-06840
From:
Sent:
To:
Subject:
James D Wilson
Friday, March 12, 2010 1:39 PM
secretary
Regulation of Retail Forex
Mr. Secretary,
I am a very small trader in the huge forex market who is attempting to make a living trading foreign currencies in these tough
economic times. Therefore, I am opposed to the proposed changes restricting leverage from 100:1 to 10:1. I feel the proposed
change would be a major mistake and will hurt those smallpersonal individual investors like myself, rather than protect them.
I understand your belief that by lowering theamount of leverage an individual may utilize will protect them from extreme market
fluctuation, but any trader who is not protecting himself with the use of common stop loss strategies is vulnerable to big losses whether
he be trading at 10:1, or at 100:1. I believe the vast majority of those trading in the forex market today are keen to the use of common
stop loss strategies. I don't like the idea of government penalizing the majority of forex traders in an attempt to protect those who are
not knowledgeable traders.
Knowledgeable traders are aware of the risks in the forex market and use good money management strategies. If the government
further restricts those knowledgeable traders in how they trade that will only hinder their ability to make aliving during these tough
economic times.
Please reconsider your options in this matter andwithdraw the proposed change in the regulation.
Regards,
James D. Wilson
713-213-3083
iamesd [email protected]
