Comment Text:
i0-001
COMMENT
CL-00041
From:
Sent:
To:
Subject:
David Conley
Thursday, January 14, 2010 10:32 PM
secretary
Regulation of Retail Forex
Dear Secretary;
I am a retail forex trader who resides in USA and currently trade with a registered NFA broker. I want to express
my complete and total dissagreement with the new proposed changes in forex leverage from 100:1 to 10: 1. I
trade forex for a living and have done so for over 5 years now. I have never, not once, blown/lost my account
balance, as a matter of fact I have made money consistently. I've done so mainly because of leverage! Because of
100:1 leverage I was able to trade enough "lots" to actually make enough money to live on. Anything lower than
100:1 leverage would not allow me to do this! 10:1 leverage is insane for small time traders like myself.
I really like my USA NFA broker and desire to stay with them however if leverage is lowered below 100:1 I will be
forced to move to an unregulated USA broker, either here in USA or overseas. Not only myself but many others too!
That is not a good thing but again we will be forced to do so.
Please reconsider the new proposed leverage rule and leave it as it currently is, 100: 1.
Thank you,
David Conley
Lexington, Ky
