Comment Text:
i0-001
COMMENT
CL-08278
From:
Sent:
To:
Subject:
Rick W. Fredrick
Wednesday, March 17, 2010 6:46 PM
secretary
Margin Requirements for Foreign Exchange Retail Accounts
Mr. Stawick
I am a Retail currency trader and heavily rely on the additional income to support my family. The proposed
changes to limit the leverage from 100:1 to 10:1 will greatly impact my ability to continue to support my family. I
know there are other ways to mitigate risk and would hope you would pursue those before acting rashly to
penalize all traders, even the disciplined ones that are not abusing the 100:1 leverage. I can think of a few ways
to accomplish this without hamstringing the entire population.
¯
Require an automated liquidation of positions when the used margin amount is greater than the equity
in the account.
¯
Only allow 75% of the money to be leveraged at the 100:1 ratio and the balance to be held as a reserve.
These are just a few ways you can accomplish the goal of lowering risk without throwing the baby out with the
bath water. Please don't take away my ability to support my family.
Thanks-Rick
Rick Fredrick
FX Solutions Retail Trader
214-240-1111
