Comment Text:
i0-001
COMMENT
CL-00436
From:
Sent:
To:
Subject:
Kenneth Guzman
Tuesday, January 19, 2010 10:08 AM
secretary
Proposed 10:1 leverage
My name is Kenneth, I'm a retail trader and have been for 6 years. Leverage in the FX is an enticement for some
to enter this market and create strategies to profit from it. The risk that each trader takes by using leverage should
be of his/her choosing (100:1 is the highest I'd ever use). It is eventually learned that leverage can harm as well
as grow ones equity and any trader who does not become aware of how to use leverage as part of their trading
education quite honestly deserves to be wiped out. Trust me that you can not protect these traders from
themselves no matter what. The CFTC should not punish those of us that have learned how to trade with risk
control by lowering the amount of leverage to a point were making a profit each day would only cause traders to
risk more in order to make a profit.
It may certainly cause some of us that love to trade FX for a living to open accounts were leverage is more flexible
and trader friendly. A truly fair and well regulated FX market in the U.S that protects the trader but allows for
equity growth through knowledgeable account management can become a very vital part of our economy, but
10:1 leverage is too restrictive. As a U.S citizen I ask that you not put forth this change. Regulation is important I
agree with that but 10:1 leverage will cause more harm than good.
Thank you for your time.
