Comment Text:
i0-001
COMMENT
CL-02444
From:
Sent:
To:
Subject:
nicholas nelson
Friday, January 22, 2010 3:59 AM
secretary
Proposed spot FOREX regulations
Please do not lower the leverage cap on the FOREX market. Fundamentally i don't like it when
governments try to protect us from ourselves and in this it would eliminate a source of income for me
which would be devastating in this economy. I wouldn't be able to continue trading in the market
because i don't have enough available capital to make trading worth my time and worth tying up all that
money.
There must be a better solution. I am in favor of leaving the leverage levels where they are and having as
little government intervention as possible. If that is not an option you are considering then please look at
other options. How about a leverage cap on new investors. Anyone who has opened an account must use
the 10:1 ratio for their first 30 days or something to that effect. There are many of us who understand
how to use the leverage properly and can properly manage our money. Please don't penalize us because
of a few investors who have made bad decisions and instead of taking responsibility for their own
actions, choose to blame others.
I don't want to have to look into opening an account overseas; it would be far more risky than continuing
to use the 100:1 leverage but i can't just simply eliminate the income. I really don't know what i would
do if i was forced by this new policy to stop trading the FOREX market with a brokerage based here in
the U.S.
Thank you for your time and consideration and again, please don't take this income away from me.
Nick
