Comment Text:
i0-001
COMMENT
CL-03288
From:
Sent:
To:
Cc:
Subject:
John Mendgen
Saturday, January 23, 2010 2:11 PM
secretary
ndg 100@hotmail. com
re: forex margin rules
Hello Sir,
I understand the CFTC is considering limiting leverage to ten to one on forex trading. As a small trader, this
would completely wipe out my edge, the chance to enlarge winning positions I have carefully cultivated. Cautious
money management and stops keep my losses small...I cannot afford large losses. But when I do have a
profitable trade, my current leverage allows me to add to it as needed. Ten to one would lessen this to the extent
that it would take several years to build sufficient capital to trade at worthwhile levels. Please keep leverage at no
less than one hundred to one.
If not, I will be forced to consider moving from my existing American brokerage, The Collective, to Canadian or
Swiss brokerages that offer higher leverage.
Thankyou ~ryourconsideration,
John Mendgen
Vancouver, BC
Canada
