Comment Text:
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COMMENT
CL-02362
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Thursday, January 21, 2010 11:31 PM
secretary
megghegg@yahoo, com
Regulation of Retail Forex
RE: RIN 3038-AC61
This email is to submit my comments about the proposed regulations changes regarding reduction of
leverage in Forex trading from 100xl to 10xl. I do not support any changes to the current leverage ratio.
I am chronically ill and trading is my almost soul source of income. I spent many years training myself
so that I would be self-sufficient and economically independent. This effort cost me a lot of money, a lot
of sweat, and a lot of tears. Now, after all those years of hard work, I am finally successful. It would be
disastrous to me if the leverage were reduced. The net result of 100xl or 10xl is all the same anyway,
isn't it? A currency pair goes up and someone makes money. A currency pair goes down, and someone
else makes money.
The effect of changing to 10xl would, first, give me far less opportunity to generate income for me and
anyone else, including the small forex trader. Second, it would give me far less money to work with.
Since I only make a very small percentage of the money I trade with, reducing the amount of available
margin would just simply destroy my occupation, as well as the occupation of many others. For these
reasons I urge you to please not change the forex leverage regulations.
Sincerely,
Don Eden
Yelm, WA
360-894-4000
