Comment Text:
i0-001
COMMENT
CL-02695
From:
Sent:
To:
Subject:
Hal Holbrook
Friday, January 22, 2010 12:33 PM
secretary < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
Date: Fri, 22 Jan 2010
David Stawick, Secretary
Commodity Futures Trading Commission
[email protected]
Regulation of Retail Forex
RIN 3038-AC61
Dear Mr. Stawick,
I am responding to your announcement seeking public input on proposed regulations concerning retail
Forex trading, identification number RIN 3038-AC61. Your proposed regulations would change the
leverage requirements to a 10-to-1 limitation from its current 100-to-1 ratio.
This proposal is not good for small traders in the Forex markets. I know several people who supplement
their incomes trading Forex. For example, one such person is a young stay-at-home mother who has a
Forex trading routine and system that provides her with extra money each month for her family. She
only trades in small lots and keeps an account of approximately $1,500. By changing the leverage
requirements to the proposed levels she will no longer be able to trade.
This proposed change would take away an opportunity from her and so many people like her who trade
in smaller Forex accounts. I'm sure you would agree that this country all about opportunity. The
proposed leverage change will take away an opportunity that allows one the freedom to choose an
appropriate level of risk in trading Forex.
My concern is that some people who trade Forex in small accounts will stop trading altogether or will
try to move up to the higher leverage amounts and consequently place a financial strain on their family's
budget. This would not be a safe trading environment.
I am asking you to please re-consider the proposed changes and make sure it doesn't happen.
Thank you for your time and offer of input.
Sincerely,
Hal Holbrook
halholbrook@hotmail
Phone: 541-515-5763i0-001
COMMENT
CL-02695
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