Comment Text:
i0-001
COMMENT
CL-03763
From:
Sent:
To:
Subject:
A.C. Jurenas
Monday, January 25, 2010 11:27 AM
secretary
Regulation of Retail Forex, R1N3038-AC61
Subject: Regulation of Retail Forex
Mr. David Stawick, Secretary
Commodity Futures Trading Commission
1155 21
st
St. N.W.
Washington, DC 20581
ID#: RIN 3038-AC61
Dear Mr. David Stawick:
I am writing regarding the proposed change in leverage requirements for retail forex traders.
As an individual forex trader for the past six years, I would like to register my strong objection to
reducing the leverage limit from 1:100 to 1:10.
My wife and I are retired teachers on a rather meager fixed income. I rely on my trading income to
supplement my retirement income. Since employment opportunities for those of us over the age of 65
are severely limited, the proposed leverage reduction would be a devastating blow to our family
income and leave us with few, if any, reasonable options to augment our fixed incomes.
I am unclear as to what might be the rationale for such a change in leverage requirements. If it is to
[~ protect[~ the small trader, I assure you I need no such protection, since I am well aware of the risks
involved in forex trading.
If the new requirement is implemented, it will eliminate many, if not most, of the traders trading with
modest accounts and limit such trading to much wealthier clients with infinitely more disposable
income. Such a ruling, I feel, raises issues of freedom of choice and fairness.
I appreciate your attention to my objection and strongly urge you and the CFTC to leave the
leverage/margin requirements as they are.
Thank you for your consideration.
Respectfully,
Albert C. Jurenas
620 NE Town Terrace
Jensen Beach, FL [email protected]
Albert C. Jurenas
acjj urenas@yahoo, com
772-334-5095
i0-001
COMMENT
CL-03763
