Comment Text:
i0-001
COMMENT
CL-08769
From:
Sent:
To:
Subject:
[email protected]
Sunday, March 21, 2010 4:43 PM
secretary
Regulation of Retail Forex
To whom it may concern,
I appreciate your time in advance. I am writing to comment about the recent proposal (RIN 3038-AC61) to
decrease the amount of leverage available to retail Forex traders. I do recognize the larger concern here, and the
obvious effects of over leveraged accounts across multiple asset classes in the past few years.
I believe that one of the main spirits in our country is speculation with risk. There is no point in history where this
has not been a main factor in our success. People no the risks, they just ignore them due to ignorance and lack of
skill. I believe that the Forex brokers are doing an excellent job by offering comprehensive education as well as
ample warning(s) of the RISKS involved with Forex trading.
If you take big risks you can have big losses, but you do not have to take big risks with high leverage. With proper
education and money management (skill) you can avoid this cycle. I think that 50:1 leverage is more than enough
for any trader and would bea good compromise. I am new to this market and a small trader, if 10:1 is the only
thing available I cannot trade in this market; it's that simple. I apologize in advance for any responses that have
arrived based on anger or misunderstanding instead of the spirit of dialogue. Thanks again
