Comment Text:
i0-001
COMMENT
CL-07807
From:
Sent:
To:
Subject:
Kelly Wiggins
Tuesday, March 16, 2010 11:39 AM
secretary
'Regulation of Retail Forex
RIN 3038-AC61
What are you thinking? Do you really think you can regulate stupidity by limiting leverage to 10:1? Reckless traders/investors
will blow up their accounts no matter what you do. Stop punishing responsible traders who have spent countless years training
themselves to make a career trading Forex. You will put me out of business or out of the country which inadvertently makes
my trading more dangerous.
Education and disclaimers are the answer. Make people take a short educational course online before they are allowed to
trade with 100:1 leverage. Once they know the risks, they should be on their own, just like driving our automobiles.
Many people die driving cars every year, but we do not reduce the speed limit to 10mph. This will fix the problem overnight,
but at what cost?
Politicians and regulators are out of control. Stop now, we will revolt!
Kelly Wiggins
