Comment Text:
i0-001
COMMENT
CL-03248
From:
Sent:
To:
Subject:
Max Ramirez
Saturday, January 23, 2010 12"24 PM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex
RIN 3038-AC61
To Whom it may concern,
I have recently received the news that new rules regarding the limitation of leverage brokers can
offer to their clients will be limited by the CFTC to 10:1.
I've been trading for over a year and a half in the Forex market and since the very beginning I
learnt that this market is 100% speculative, no warranties are given and risk is very high.
With this principle in mind I've been studying and developing skills and methods to become
profitable.
As me, thousands of traders around the globe are very educated as how this market works,
leverage is a main part of this market, not everyone will have thousands of dollars to start trading
even if a demo account is used at the beginning.
The fact that few hundred dollars are the munimun capital required in a 400:1 leverage or just a
thousand dollars are required in a 100:1 leverage makes this market very attractive and profitable
for many people with dreams of financial freedom.
Forex is all about freedom, freedom to become rich, freedom to take risks in live, freedom to trade
with limited risks!.
Where the US goes the rest will likely follow, I live in Canada and Forex is my passion, if leverage
is limited to 10:1 I will simply have to stop my dream, I am not wealthy enough to start off with
$10,000.
The retail market will be destroyed in the US if you decide to apply those new rules.
I invite you to reconsider your position, listen to traders, and take the leadership that US is
supposed to take.
Regards,
Max Ramirez,
www.sniperforextrader.com
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