Comment Text:
i0-001
COMMENT
CL-00753
From:
Sent:
To:
Subject:
Hunter Myers
Tuesday, January 19, 2010 5:29 PM
secretary
Leave retail forex leverage alone! Don't take away my freedom of choice!
To Whom It May Concern,
I am a retail forex trader. I got into trading shortly after being laid off from an engineering position in
April of 2009, which I had secured before graduation in May of 2008. In the 9 months since then, I
have been trying to find a job as much as possible, and learning to trade in case I can't find one.
The job market, especially for engineering, has stayed as poor as ever, but I have succeeded in becoming
a profitable trader. I have taken a conservative approach, first becoming profitable on a demo account,
and recently with actual money. In the coming months I will be depending completely on forex for
income.
I choose to have my account leveraged 100:1. I have accepted the level of risk that comes with 100:1
leverage. I have no desire for my leverage to be lowered, and see no need for it to be done. In fact, if
the leverage is mandated at 10:1, I will have to put unnecessarily large amounts of capital in my trading
account, which will cause severe cash flow problems for me, and will add to the already high pressure
on me to pay my bills and succeed at trading.
There is no reason to mandate that leverage be only 10:1. Anyone can set their personal level of
leverage to 10:1 if they want to - nothing is forcing traders to trade leveraged 100:1. Those that trade
with higher leverage either accept the increased risk, or they should simply lower their leverage or not
trade. There is no reason to take away everyone's free choice of leverage. That would be completely
unfair, and a violation of the principles upon which this country was founded.
Thank you for your time, and please do not take away my freedom of choice.
Hunter Myers
