Comment Text:
i0-001
COMMENT
CL-06010
From:
Sent:
To:
Subject:
Matt ODonoghue
Thursday, March 4, 2010 1 :
11 PM
secretary
Regulation of Retail Forex
David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W.,
Washington, DC 20581
Dear Mr. Stawick,
It has recently come to my attention that the CFTC is proposing regulations that will reduce leverage available to retail forex
traders from 100:1 to 10:1. As a full time trader this will significantly affect my ability to earn a living. I realize that many
traders new to retail forex do not understand the risks associated with leverage. However, reducing the leverage available to
retail traders will not prevent any new or inexperienced trader from losing capital. It will simply hamper those of us who make
a living trading in the current FX market.
If you want to inform retail traders of the dangers of over-leveraging their accounts, then do so, but please do not take away
the ability of professional traders to use leverage in order to earn a living.
Sincerely,
Matt O'Donoghue
847.848.0340
