Comment Text:
i0-001
COMMENT
CL-06155
From:
Sent:
To:
Subject:
Beth Ege
Friday, March 5, 2010 11:11 AM
secretary
Regulation of Retail Forex
RIN 3038-AC61
Dear Sirs,
Upon your invitation for comments in regard to the proposed change in
leverage to 10-to-l, I'd like to express the following:
I have been able to eek out a modest living with the 100-1 leverage. If
this leverage were to change, I would no longer be able to do so, because I
would not have the capital to increase my account, nor would I be able to
capture 10 times the moves I currently repeatedly capture. I would have to
become 10 times the trader I am now, or risk more, which is never a good
thing.
This 10-to-1 limitation would potentially put me out of business in the
Forex trading market. I don't think this is your goal.
At the risk of repeating something you may have heard all to often, we (the
little guys) have a saying in Forex: 30 pips a day keeps the job away. I
do not know how to suddenly make 300 pips a day, which means I will be on
the unemployment line soon. I hope you will consider not making this
change.
If I understand the situation correctly, I only lose what is in my account.
This may not be true of the big banks. So this change essentially puts me
out of business in the forex market.
Thanks for taking our comments. I hope there is a way to keep us (little
guys) in the market.
Sincerely,
Beth Ege
704-896-2811
