Comment Text:
i0-001
COMMENT
CL-00492
From:
Sent:
To:
Subject:
David Dosch
Tuesday, January 19, 2010 11 : 15 AM
secretary
Regulation of Retail Forex
Dear David Stawick,
GFT, my current broker has informed me that the CFTC is considering lowering the current maximum
leverage from 100:1 to 10:1. I think this is the current regulation proposal RIN 3038-AC61.
I have been trading for over 30 years and leveraging my money has been the key reason I have been able
to make enough money to live on. I was trading futures when they introduced Single Stock Futures. In
order for this market to compete with stock options they allowed 20:1 leverage. That was enough
incentive to get investors to participate.
Many of us have entered the Forex market because of the high leverage. We can be in and out and the
market and it doesn't have to move much to make money. Lower the maximum leverage again will
discourage investors from participating in this market.
I have already had my account lowered from 400:1 to 100:1. I hope you will not regulate this again.
We can decide for ourselves how much leverage to use by using our own money management. It is our
money. Let us decide how to invest it.
Sincerely,
David Dosch
