Comment Text:
i0-001
COMMENT
CL-06170
From:
Sent:
To:
Subject:
Charlie Arwood
Friday, March 5, 2010 11:25 AM
secretary
Comment on the proposed leverage changes ....
Sirs:
I am
dead set against
the proposed 10:1 leverage limitations on forex margining. If people
cannot accept the personal responsibility for their own actions in forex trading by limiting
their risk, they should not be trading in the first place, especially when their lack of taking
that responsibility results in them demanding that a government agency do something to
protect them and others like them in the future, which eliminates the opportunity for those of
us who DO UNDERSTAND the very simple fact greater rewards come from having to take
greater potential risks ( Those of us who have taken the personal responsibility and have accepted
the responsibility of greater risks and all of its ramifications and have taken measures to provide
SELF PROTECTION.)
If the 10:1 leverage limitation is passed it will inhibit the ability of smaller of investors from
participating
in a market that until the last several years was closed to them because of the amount of trading
capital needed in order to participate. With 100:1 leveraging and micro lot sizes available a
person can take a modest $250 and grow it slowly and responsibly into a very respectable sum
of money and potentially change their financial future. Also, if the CFTC passes the limitation it
will force smaller investors offshore where there aren't as many business restrictions imposed.
Thank you for considering my comment.
Sincerely,
Charlie Arwood
Thomasville, Georgia
