Comment Text:
i0-001
COMMENT
CL-02370
From:
Sent:
To:
Subject:
Dan Krafthefer
Thursday, January 21, 2010 11:49
PM
secretary < secreta ry@ C FTC. g ov >
regulations of retail forex
Dear Secretary of the CFTC-
Thank you for looking out for the consumer. I appreciate the fact that you are looking to protect
people.
With that being said, I am opposed to the regulation to reduce leverage limits from 100:1 to 10:1.
There is risk involved with investment and trading. That is understood and something that comes
along with the opportunity to make money. Risk involves chances for profit and chances for loss.
That is how markets operate.
Any business venture involves risk. It may succeed and it may fail. You may make money and
you may lose money. It's the opportunity that most people want. This is America, "land of the
free". Here, people havea chance to succeed and fail. That's what we want; the opportunity.
If you change the regulations regarding leverage, you will be taking away the opportunity, for
many middle and lower class citizens, to have a chance to better their lives. Please don't take that
away!!!
I have been trading for about 4 years. There has been a learning curve and it has taken some
time to educate myself regarding currency trading. However, Iam determined to become
consistent at trading this market. I have finally found something Iwanttodo. Iam passionate
about it and it gives me hope to provide a better living for my family. Iwantto be able to pay off
my debts and be able to give to my family, friends, church, charities and others in need. Iwantto
be a solid American citizen who contributes to society. By lowering the leverage you will be
affecting this opportunity. You would make it more difficult and it will take longer for me to
achieve these dreams and goals.
I look at this asa business. As with most any business, the owner must invest time and money
before the business succeeds and makesa profit consistently over time. So, though it has taken
me 4 years and several thousand dollars, I believe in the end, that my efforts will pay off.
Is therea guarantee? No. Is there risk involved? Yes. I understand this. Why? Because of
current laws, everything I've been exposed to has always warned that there are "no
guarantees". Risk is involved, and there isa chance of substantial loss. I have learned that thanks
to the laws and regulations that are in place.
However, this is America. This is "the land of opportunity". I don't want anyone "spoon feeding"
me or holding my hand. Please allow me and others to make our own decisions. Please don't take
away an opportunity for us to better our lives, and the lives of those around us.
I would be glad to discuss this further, if you wanted to talk with an "average Joe", with someone
who lives in "Main Street" America, not Wall Street. Please don't take away opportunity away from
US.
Thank you for your time and consideration.
Sincerely,i0-001
COMMENT
CL-02370
Dan Krafthefer
215 Smith Street
Woodmere, NY 11598
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