Comment Text:
i0-001
COMMENT
CL-01154
From:
Sent:
To:
Subject:
Tim Newton
Wednesday, January 20, 2010 9:19 PM
secretary
Apposed to R1N 3038-AC61
Hello Secretary of CFTC,
I'm a forex currency trader and I'm sending my dissapproval of the new CFTC changes in RIN 3038-AC61. I, like
many, many traders can not work with the changes of 10:1 (10 percent with 1 lot (100,000) and Margin
requirement: $10,000. Please do not make these distructive changes to the millions of traders like myself who can
not withstand such changes in RIN 3038-AC61. I've had 3 heart attacks and my wife and I have lost our home
due to these health conditions affecting our income. I'm a stay at home day trader and I can not work with your
proposed changes in RIN 3038-AC61. We would like to have the choice to stay with the current regulations.
Maximum Leverage under Current Regulations
USD/CHF
100:1 leverage (one percent)
1 lot (100,000)
Margin requirement: $1,000
Maximum Leverage under Proposed CFTC Changes
USD/CHF
10:1 leverage (10 percent)
1 lot (100,000)
Margin requirement: $10,000
Thank you,
Tim Newton
