Comment Text:
i0-001
COMMENT
CL-01541
From:
Sent:
To:
Subject:
John Arend
Thursday, January 21, 2010 4:43 AM
secretary
cftc
Dear CFTC Secretary,
I have spent much time and effort to acquire knowledge about Forex Trading including months of Demo
trading, with the hope of being able to make a living by using the present margin arrangement. I can
determine my maximum margin and leverage Trading as an former Securities Analyst with a British
Brokerage Firm, an MBA, and many years of business experience. I am too old to be hired after a lay off
from a Teaching position here in Southern California. I must become self-employed but cannot be
successful in Forex trading without the leverage of 100 to one.
The proposed cftc rule helps the rich and leaves out the opportunity for those of us who need to use
leverage in our trading in a manner that enables us to support a family. Such a decrease in leverage by
the cftc will contribute to thousands of middle-class people becoming unemployed and unable to support
a family. My training and investment in learning how to trade Forex would be wasted and I would have
to start all over again to learn another means of livelihood.
Please do not change the present Trading margin requirements. Focus your rule-changing efforts on
restoration of the Up-Tick rule to prevent those ETF's who use short trading to manipulate stock prices
for the purpose of putting companies out of business and thousands of people out of wor!!
Sincerely,
John Arend
