Comment Text:
i0-001
COMMENT
CL-05887
From:
Sent:
To:
Subject:
Kevin Lawrence < [email protected]>
Thursday, March 4, 2010 1:44 AM
secretary
Regulation of Retail Forex
Dear CFTC,
Please do not reduce the current leverage available to forex traders from 100:1 to 10: 1. It seems to have been
working fine so far with this 100:1 ratio, and encourages more responsible trading, more income, and generates
more taxes for the government. In addition it allows more people to trade with less money thus encouraging more
people who could not afford to trade at the proposed new leverage of 10:1 to be in the forex market and make any
money.
Obviously more leverage can as well encourage some to trade irresponsibly, but the likelihood is that if they are
willing to engage in poorly planned risky behavior then they would continue to do so in another format. It is up to us
as responsible traders to weigh our risk and reward ratio and trade accordingly. It is not the job of the government
to interfere with this.
Please do not ruin a perfectly fine working 100:1 ratio for us responsible traders who earn by using this and paying
our taxes.
Thank you.
Kevin Lawrence
