Comment Text:
i0-001
COMMENT
CL-03545
From:
Sent:
To:
Subject:
Kirk Stem
Sunday, January 24, 2010 2:27 PM
secretary
Regulation of Retail Forex
Dear Mr. David Stawick,
As an individual Forex trader I urge you please DO NOT change the leverage from 100:1 to
10:1 (RIN 3038-AC61). It would totally ruin and eliminate the individual Fforex trader in the
United States. Yet the rest of the world would be able to continue to trade the purest of all
markets, the Forex. The Forex market has been very successful in policing itself and no one is
in danger of losing more than their account and typically gets the trade(s) closed by the
broker when the trader's margin level is hit versus other Future instruments where you can
lose more than the account balance. A blanket type of ruling would be short sided. Again
please DO NOT change the leverage from 100:1 to 10:1, it would eliminate the individual
trader and kill a lot of dreams. Please contact me if you would like to discuss this from a
newly successful Forex trader that this would eliminate. We did not cause the financial crisis
and should not be lumped in with it. Thank you for listening.
Take care,
Kirk H. Stem
5743 Sentinel Drive
Raleigh, NC 27609
[email protected]
919.302.1590
