Comment Text:
io-ooi
COMMENT
CL-02336
From:
Sent:
To:
Subject:
Roy lnman
Thursday, January 21, 2010 10:48 PM
secretary
RE: Regulation of Retail Forex
I am writing in response to
RIN
3038-AC61, the CFTC's proposal to change leverage requirements.
Please don't do this. I am an older gentleman (retail trader) that lost more than half of his retirement in
the stock market collapse in 2008 and am still trying to recover from it. I have had good success with the
forex markets and only risk less than 3 or 4% of my account on trades. With the higher leverage
requirements, I will be stifled in my trading techniques. Tightening of the leverage requirements are not
only going to hurt the retail trader, but also many US jobs will be lost because retail traders will simply
go outside of the US and put their money in foreign banks using dealers that offer better leverage
options. I can live with the CFTC's existing 100:1 leverage, but the 10:1 leverage will put me out of
business. Please don't! I'm begging you as an American and someone that still has a little faith in our
nation and leaders to do the right thing.
Thanks you,
Roy
