Comment Text:
i0-001
COMMENT
CL-03136
From:
Sent:
To:
Subject:
Aaron Johnson
Saturday, January 23, 2010 4:54 AM
secretary
Regulation of Retail Forex RIN 3038-AC61
1/23/2010
Subject: Regulation of Forex RIN 3038-AC61
Dear Secretary CFTC,
It is impossible to fully regulate risk. As a retail forex investor/trader, I disagree with the CFTC [] s 10-1 leverage proposal
(RIN 3038-AC61). How does this actually help a middle class investor? It doesn [] t. Please understand that there are
successful traders/speculators who have the psychological fortitude, and technical aptitude to manage their own risk, without
the high demand of oversight of the US government.
Overall, the premise to impose a 10-1 leverage requirement assumes that more money means more sophistication and safety
in ones trading endeavors. This underlying assumption is incorrect.
The premise of a 10-1 leverage requirement seems to be an ever increasing tool to limit my freedom of choice.
In the spirit of freedom to all retail forex investors, do not force us to have to do business in other countries that do not
impose this amount of leverage. But do allow us the opportunity to choose leverage that is commensurate, and proportional
to our current financial fitness. The recent leverage change of 100:1 is reasonable enough.
Again, thank you for your time and consideration.
Sincere regards,
Aaron D. Johnson
