Comment Text:
i0-001
COMMENT
CL-03342
From:
Sent:
To:
Subject:
Dave Babcock
Saturday, January 23, 2010 4:34 PM
secretary
Forex leverage rule change
Dear Secretary,
I am opposed the the rule change limiting leverage in the forex market from 100:1 to 10:1.
As a trader with a small account (a bit under $10,000), this would severely limit my trading. I take a position based
on risk ( entry minus stop) rarely do I take a position more than 1% of my capital.
Often this risk would allow me to take a position with 5 or more contracts. With the proposed rule change I would
get a margin call before my stop was hit or would not be permitted to take the position at all.
This rule change would make it so I would have to trade such a small size that with commissions and bid/ask
spread I would not be allowed to make any money and most trades that otherwise would be winners would turn
into losers.
Thanks for your time,
David C Babcock
1118 Scholastic Circle
Durham, NC 27713
919 475 6682
