Comment Text:
i0-001
COMMENT
CL-03445
From:
Sent:
To:
Subject:
Jeff Alvarez
Sunday, January 24, 2010 1:33 AM
secretary
Regulation of Retail Forex
I am responding to the proposed changes in leverage in retail forex from 100:1 to 10:1. I think that such
a change would severely hurt the small retail forex trader, such as myself.
I love trading the forex markets. I have worked very hard to learn how to trade this market the "tight
way." It provides me with a good supplemental income. It is a market that allows me to trade in the
evenings/nights, which is the only time I can trade because I have a full-time day job.
As I mentioned, I believe I trade the forex markets the "right way." I never risk more than 1% of my
funds available for trading. Keep in mind that a lot of us forex traders keep some of our funds available
for trading in an FDIC insured account. If the proposed changes in leverage are passed, it would force
us to put most of our trading capital in our forex broker accounts which are not FDIC insured.
Again, to reiterate, I feel that the leverage changes you are proposing would severly restrict the small
retail forex trader from participating in the market. I do not feel that traders such as myself who manage
tisk prudently and trade the "right way" should suffer because of other traders who are irresponsible in
terms of managing their risks.
Thank you for the opportunity to express my opinion. I look forward to heating that the CFTC has
made the right decision.
Sincerely,
Jeff Alvarez
