Comment Text:
i0-001
COMMENT
CL-01061
From:
Sent:
To:
Subject:
lormer@bikerider, corn
Wednesday, January 20, 2010 5:16 PM
secretary
Change of Leverage
Dear Sirs;
This is regarding the proposed change in leverage. I have been trading 4x for over ten years and I have never
heard such fantastically high handed proposal for a regulatory committee in my life. This is regarding proposal
RIN 3038-AC61, I swear your committee loves wrecking the market place for all future traders who have any
ambition at all of making a living as a trader. Under your regulations no one with less then a Hundred Thousand
dollars will be able to trade profitably. What makes more sense would be to establish a standard required
educational curriculum. In this you could regulate the educational facility and the curriculum being taught. This
would go a long way to getting rid of the so called over night educator praying on the unaware individuals trying to
educate them selves. There is more money lost to phony educators on the internet then is lost in the 4x market.
The so called auto traders supposed to make everything easy with little or no loss cause more grief then you can
possibly be aware of.
Instead of acting as an over serious regulator you should be acting as an activist advocating the little man this is
what has propelled the 4x market for ever. It is the great equalizer it is what makes the market place work. When
you start over regulating you put the market in the hands of a few wealthy individuals. It is no longer a democracy
or a free market place. This proposed regulation stinks of the under educated individual who went to a one day
seminar and went home took his life's savings put it in trade account at 400 to 1 bought the largest contract
possible and lost his money in five seconds and then called his attorney crying fowl.
Sincerely,
Loren W. Lewis
P.S. I am a little guy who earned his education in the market the hard way.
