Comment Text:
i0-001
COMMENT
CL-06252
From:
Sent:
To:
Subject:
Richard Grimes
Friday, March 5, 2010 2:41 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
Dear CFTC
I would like to comment on your proposed regulation and say that I disagree with this regulation and should leave this alone
as trading with leverage helps those who don't have huge funds to work with the leverage in their favor. I would like to see
this regulation to be not put on, and would like to say that I think forex traders are being attacked too much recently with all
of these regulations. I would like for things to remain the same way they have always been with allowing traders to continue
to use leverages of 100:1 as it allows those who don't have a lot of capital to trade in the markets as well. When we generate
an income it has the capability of stimulating the economy in return can give us more opportunity to move out of this so
called recession that we are in. If you decide to impose this regulation it will make it even more difficult for those who have a
desire to learn how to trade to be delayed for a very long time. I don't see any
reason for this regulation to be imposed other than the simple fact that when forex traders started to make too much money
now all of a sudden we are getting restrictions left and right. I am opposed to this new regulation and just felt i should
comment on this matter at hand. Thank you.
Richard Grimes
