Comment Text:
i0-001
COMMENT
CL-03932
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[email protected]
Monday, January 25, 2010 9:58 PM
secretary
Public Submission for 2010-00456
Public Submission for 2010-00456.zip
Please refer to the attached file.Please Do Not Reply This Email.
Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries:
Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
FR Document Number: 2010-00456
Legacy Document ID:
RIN: null
Publish Date: Wed Jan 20 00:00:00 EST 2010
Submitter Info:
first_name Wendy
last name Lewis
address1 19718 60th AVE NE
city Kenmore
country United States
us state WA
zip 98028
company
I am quite concerned about the proposed change in the Forex leverage. I have just recently
started working as a Forex Day-Trader to earn enough money to support my family. My
husband, who supported us very well died suddenly about 18 months ago. I have been
handicapped with Rheumatoid Arthritis for 25 years, so I can not go out and work. I have
taken about $25,000 of the life insurance money and am using that to generate income to
support my family through the Forex market.
I have put in a lot of long hard hours learning the Forex market, but it is truly the only place
that a person like me can earn an honest living - often from my bed because I can't get up
due to stiffness and pain.
Some days I'm up, some days I'm down (financially) but I am up overall and that is
encouraging me to move on to become a better, wiser trader. I actually study more than I
trade, but the overall result is beneficial to the bottom line.
If the leverage changes to the proposed 10:1 I will not be able to make the money that I
currently can and am making. The $25,000 that I have available is all l have, and I do not
have the ability to go earn more. I can now earn several thousand each month from that,
which we live on very nicely. By dropping the leverage I will only be able to earn a few
hundred, which we can not live on at all.
What kind of a job can I get to earn money when many days I can't even get out of bed due to
pain and stiffness from RA?
Instead of punishing everyone for the acts of a few, why not create a required education
system and test to make sure those who are using the system know and understand what
they are doing and the risk they are taking on?Thank you for your consideration of my situation, I am sure there are many others out there
who are in a similar situation.
Wendy Lewis, Ph.D.
