Comment Text:
i0-001
COIMMENT
CL-062 94
From:
Sent:
To:
Subject:
Dave
Friday, March 5, 2010 6:01 PM
secretary
Regulation of Retail Forex
Mr. Stawick
I am responding to the new regulation regarding changes in retail Forex trading. I believe this pertains to RIN
3038-AC61
I understand the need to regulate brokers but the proposed change in leverage from 100:1 to 10:1 will affect many
private investors inappropriately. I have been trading Forex for roughly four months as a full time trader and fully
understand the risk involved. I was attracted to Forex because of the leverage in being able to replace my income
after being one the many that lost a job last year. I am sure there are many traders that start out depending on the
leverage in Forex in order to produce a necessary level of profit in order to keep trading such as myself. Frankly I
don't understand the rational behind this new proposal other than private traders who get involved without
understanding the risk. I have invested considerable time and money learning Forex through several reputable
sources. If this new proposal in leverage took place I would be without a source of required income to keep
trading. I am sure this would also be the same for many other private Forex traders and ultimately affect the
brokers that many of us use to trade Forex. I don't know the full impact of the financial value this has with Forex
brokers, but I am sure this will affect their income and ultimately the revenue that is generated to the U.S.
government in taxes.
In conclusion, I am adamantly opposed to the change in leverage in the new proposal for Forex. I would be happy
to speak to those at your agency who are considering this proposal in order to provide feedback from a private
investor.
Thank you
David Graessle
614.889.5027 (Home)
614.653.3642 (Mobile)
