Comment Text:
i0-001
COMMENT
CL-05529
From:
Sent:
To:
Subject:
Charles Leonard
Monday, February 22, 2010 9:42 PM
secretary
Retail Forex Trading Regulation
Charles Leonard
1705 Ridgeway Dr.
Kingsport, TN 37664
423-246-9408
David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st St. NW
Washington D.C. 20581
Re: RIN 3038-AC61
Dear Mr. Stawick,
I am a 50 year old trader, and have invested many hours as well as dollars to learn and understand forex trading. I
find it interesting and challenging. I NEED to be good at trading because as you well know, there will be no Social
Security for me. And even if there were, I could not sustain a lifestyle on those monthly checks. I see what my
parents are receivng, and it is insulting!
I have turned to trading and studying, and have begun to do well for myself in practice accounts. I am considered
by myself to be ready to open my live account. It is my hard earned money and I am willing to take the risk. And
now I find out that you are considering imposing a leverage restrction that would negate most of my realised
success! From 100:1 reduced by 90% to 10:1 I do not believe that this is to be imposed to protect me.
I would like to state that I am very much against this legislation because, it does not matter the reasons why, the
outcome is the same. If you impose this restriction, you will take another means for me to support myself and my
family, as well as punish every other small trader.
I am asking you to please remove the proposed maximum leverage ratio from this legislation.
Sincerely,
Charles Leonard
