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Comment for Proposed Rule 75 FR 3281

  • From: Steve McCay
    Organization(s):
    McCay Enterprises

    Comment No: 3874
    Date: 1/25/2010

    Comment Text:

    i0-001
    COMMENT
    CL-03874
    From:
    Sent:
    To:
    Subject:
    McCay Enterprises
    Monday, January 25, 2010 6:28 PM
    secretary
    Regulation of Retail Forex
    As an individual investor and retail forex trader I am strongly against any more regulation of
    leverage in the forex marketplace and especially against your proposed 10:1 ratio which in
    effect would cut me out of the market. I would have to keep at least $50,000 in my account to
    make the trades I currently am able to make and with that much money on the line the
    risk/reward ratio would make forex trading no longer a smart thing to do. I make my living from
    trading forex. It's taken me over 2 years of learning and investing, winning and losing to be
    able to say that I can manage my risk and to be able to reap the rewards. If you change to
    10:1 all of us individual forex traders will be out of the market and it will be left to the banks
    and big institutions which is totally unfair,
    Sincerely
    Steve McCay
    Port Charlotte FL