Comment Text:
i0-001
COMMENT
CL-04599
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[email protected]
Saturday, January 30, 2010 3:59 PM
secretary
Public Submission for 2010-00456
Public Submission for 2010-00456.zip
Please refer to the attached file.Please Do Not Reply This Email.
Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries:
Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
FR Document Number: 2010-00456
Legacy Document ID:
RIN: null
Publish Date: Wed Jan 20 00:00:00 EST 2010
Submitter Info:
first name Chris
last name VanHorn
address1 3560 Broadway 802
city kansas city
country United States
us state MO
zip 64111
company
I strongly oppose bringing down the leverage in forex from 100:1 to 10:1. The change in
leverage will all but wipe out most of the US based retail traders. Trading forex has got me
thru some tough times. I was laid off in june of last year and my trading acct is the only
reason i didnt end up on the streets. Many people that complain about the leverage in forex
are the very same people that should not even be trading forex in the 1st place. They are not
willing to put in the time and effort to learn the markets and take the responsibility of
accepting risk. you must not punish those of us that do put in the time to learn to trade. The
leverage available to us is what makes forex such a great product to trade. Most of us dont
have 25k to open an equities acct and honestly i wouldnt want to trade equities anyway. I beg
to listen and not do this.
thank you
chris
