Comment Text:
i0-001
COMMENT
CL-04267
From:
Sent:
To:
Subject:
[email protected]
Wednesday, January 27, 2010 2:07 PM
secretary
Public Comment Form
Below- is the result of your feedback form. It was submitted by
(d [email protected]) on Wednesday, January 27, 2010 at 14:06:39
commenter subject: REGULATION OF RETAIL FOREX
commenter comments: The presence of the CFTC is naturally a positive
element in oversight and protecting all customer
traders. However, I strongly feel the present
proposal to limit leverage to 10:1 in the forex
market represents a dramatic unwarranted step. I
am a recent retiree, well educated, and my trading,
which is patient and cautious, is an essential part
of my retirement income. I studied and tested my
approaches at length prior to enbarking on forex
trading, and find that I have earned the ability to
secure a steady income, though not extravagant.
Surely my personal effort to gather these trading
skills should allow- me to continue to pursue this
trading endeavor. Any limitation below-50:1
requires dramatic account sizes and punishes trader
preparation, and, of course, potential returns.
Naturally traders must exercise responsibility in
their trading decisions, but as in other areas of
personal freedom in society, such decisions and
actions must be born by the individual and not the
government. I sincerely hope for minimal or no
change to trading possibilities which limit use of
responsible leverage to any number below- 100:1.
Thank you.
commenter name: David Shafer
commenter firm: none
commenter addressl: 2302 W. 14th Avenue
commenter city: Junction City
commenter state: OR
commenter zip: 97448
commenter phone: 541.234.2139
