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Comment for Proposed Rule 75 FR 3281

  • From: Kirk H Stem
    Organization(s):

    Comment No: 4038
    Date: 1/26/2010

    Comment Text:

    i0-001
    COMMENT
    CL-04038
    From:
    Sent:
    To:
    Subject:
    Kirk Stem
    Tuesday, January 26, 2010 10:04 AM
    secretary
    Regulation of Retail Forex
    Dear Mr. David Stawick,
    As an individual Forex trader I urge you please DO NOT change the leverage from 100:1 to
    10:1 (RIN 3038-AC61). It would totally ruin and eliminate the individual Forex trader in the
    United States. Yet the rest of the world would be able to continue to trade the purest of all
    markets, the Forex. The Forex market has been very successful in policing itself and no one is
    in danger of losing more than their account and typically gets the trade(s) closed by the
    broker when the trader's margin level is hit versus other Future instruments where you can
    lose more than the account balance. Again please DO NOT change the leverage from 100:1
    to 10:1, it would eliminate the individual trader and kill a lot of dreams. Please contact me if
    you would like to discuss this from a newly successful Forex trader that this would eliminate.
    We did not cause the financial crisis and should not be lumped in with it. Thank you for
    listening.
    Take care,
    Kirk H. Stem
    5743 Sentinel Drive
    Raleigh, NC 27609
    [email protected]
    919.302.1590