Comment Text:
i0-001
COMMENT
CL-03586
From:
Sent:
To:
Subject:
Gary Reichle
Sunday, January 24, 2010 6:06 PM
secretary
proposed 10:1 leverage
To the Secretary-
I have been demo trading forex for the past three years, and am opening a
live account this week when I heard the news of the proposed 10:1 leverage
ruling.
I cannot beg you enough to stop that ruling, since I am the sole breadwirmer
of my family after my husband's stroke.
This is a business I need, and a job I am putting myself into which I
control despite the bad economy. A retail trader needs to keep the leverage
where it has been. If it goes to 10:1, hundreds of thousands of traders
will have "lost their jobs", and this is something that has always been
independent of any economic cycle. Trading is an environment which does not
depend on the economy being up or down, and for those who want to do it, it
is their last bastain of independence.
The CFTC needs to oversee and regulate, not kick thousands of traders out of
their business by making it impossible to do their job.
Please reconsider this.
Sincerely,
Nancie Reichle
