Comment Text:
i0-001
COMMENT
CL-03921
From:
Sent:
To:
Subject:
Habib Choudry
Monday, January 25, 2010 9:28 PM
secretary
'Regulation of Retail Forex'
RIN 3038-AC61
Dear Sir/Madam,
I am not in the favour of 10:1 leverage as proposed by CFTC. Most of us have managed the
risk and the leverage very well. All I know is this that my account has not been wiped out in the last 15
months and I am waiting to recover the losses as the market turns around. If CFTC changes the leverage
to 10:1, then all my account will be wiped out immediately.
Therefore, I propose that if CFTC is hell bent on changing the leverage to 10:1 then it should be applied
on new trades not on open positions. I have survived with 100:1 leverage, please do not ruin my savings
and earnings by this new regulation. If 10:1 leverage has to
be applied, then please do not let it affect the current open positions.
I thank you for your kind considerations.
Habib Choudry
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