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Comment for Proposed Rule 75 FR 3281

  • From: John Trybus
    Organization(s):

    Comment No: 1121
    Date: 1/20/2010

    Comment Text:

    i0-001
    COMMENT
    CL-01121
    From:
    Sent:
    To:
    Subject:
    John T
    Wednesday, January 20, 2010 8:41 PM
    secretary
    Fwd: Regulation of Retail Forex RIN 3038-AC61
    CFTC:
    Dear Sirs and Madams;
    I strongly, very strongly, object to your raising the leverage
    requirements for retail Forex trading accounts.
    I am a retail trader in the FOREX market, and have long since
    accepted the risk involved as a trade-off for the potential rewards.
    If you raise the leverage requirement to 10:1, you will effectively
    destroy my ability to trade Forex, and you will have a material
    affect (negative) on my financial life and freedom.
    I have not asked you, or anyone else, to protect me from risk. If
    you take away my choices in risk-taking, you take away everything,
    including my freedom.
    Please stop making it anymore impossible to trade the Forex.
    You have done more than enough damage by the rules already
    instituted (no hedging, and the previous ruling on higher margin
    requirements).
    John Trybus, American citizen, Florida resident, and believer in
    the personal freedom to make mistakes and accept risk