Comment Text:
i0-001
COMMENT
CL-04555
From:
Sent:
To:
Subject:
Frank Lamont
Saturday, January 30, 2010 7:32 AM
secretary
Regulation of Retail Forex
Dear Mr. Secretary Stawick,
In regards to the proposed margin changes (10:1), I would like state my opinion that I am NOT in favor of margin
changes.
I have helped many of my friends understand the technical analysis of currency trading. Most of the people I
teach come from all sorts of backgrounds such as plumbers, truck drivers, maintenance, repairmen, etc. Most of
which is have never done anything else in their life. What the present margins do is allow people with very little
means try something else to generate income. I'm not expecting everyone to in my group to be long term
currency traders, what I am expecting is for them to understand that are other ways of generating wealth
instead of doing a nine to five job.
There have been several who in the past 3 years of trading have quit their jobs to become fulltime traders. If the
margin had been anything else then what it is now, this would not have been possible. The proposed leverage
change would end it for all of those who have already begun on this new journey of life and for this reason the
leverage rule must not stand.
Sincerely,
Frank Lamont
RIN 3038-AC61
