Comment Text:
i0-001
COMMENT
CL-07651
From:
Sent:
To:
Cc:
Subject:
Steven Winters
Monday, March 15, 2010 2:22 PM
secretary
[email protected]
Regulation of Retail Forex
RIN 3038-AC61
To Whom it May Concern,
I am writing this letter to state my opinion on the regulation of leverage in consumer forex
trading. As I can understand some reasons why this regulation could take place I do not agree
with the decision to do so. Regulating leverage for consumers limits them in the decisions that
could help them to achieve success in their lives. Part of the american dream is that we all have
opportunities in front of us and it is up to us to take advantage of those opportunities. Restricting
leverage takes away the opportunity from many traders to make the trading decisions that they
want. Traders know that there is risk involved in forex trading. When I started trading forex I
made bad decisions early on and I also made some very smart decisions. People need to have the
freedom to choose higher or lower leveraged trades. Every trader trades and performs
differently. Successful traders find a strategy that works for them through trial and error.
Restricting leverage tells some traders that they cannot have success in their strategy because the
CFTC says so. Don't get me wrong, I know that the CFTC needs to exist and am greatful that
such organizations work so well. I do not agree with this decision and ask that that you reconsider
such a regulation.
My Regards,
Steven Winters
