Comment Text:
i0-001
COMMENT
CL-06129
From:
Sent:
To:
Cc:
Subject:
Barry Weiss
Friday, March 5, 2010 10:34 AM
secretary
[email protected]; Dorraine Gilbert Weiss
Do not restrict our leverage in Forex trading to 10 to 1. It will give many of us
unfair position relative to professional day traders. How do you define "retail"?
If I register with my brokers as a Professional Day Trader since I spend my time doing that
for my living, will I still have the 10 to 1 leverage restriction using my California address?
If that is the case, I will have to use my other, non-domestic address as my base.
Please responc soon as
I will be setting up new Forex trading accounts
shortly for better platforms, lower spreads and commissions.
I was initially NASD registered in NYC in 1960, and have 50 years of brokerage and trading
experience which have taught me how to manage risk. To be sure I have taken several
programs with the Online Trading Academy which in itself should exempt one from
restrictions on leverage. I realize you may need to protect less experienced traders from their
own folly, but people like me need an exemption from the proposed lower leverage limit.
Barry Weiss [email protected]
