Comment for Proposed Rule 75 FR 3281
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From:
Tim Newton
Organization(s):
Comment No:
1139
Date:
1/20/2010
Comment Text:
i0-001
COMMENT
CL-01139
From:
Sent:
To:
Subject:
Tim Newton
Wednesday, January 20, 2010 9:14 PM
secretary
Apposed to new CFTC Changes
Hello Secretary of CFTC,
I'm a forex currency trader and I'm sending my dissapproval of the new CFTC changes. I, like many, many traders
can not work with the changes of 10:1 (10 percent with 1 lot (100,000) and Margin requirement: $10,000. Please
do not make these distructive changes to the millions of traders like myself who can not withstand such changes.
I've had 3 heart attacks and my wife and I have lost our home due to these health conditions affecting our income.
I'm a stay at home day trader and I can not work with your proposed changes. We would like to have the choice to
stay with the current regulations.
Maximum Leverage under Current Regulations
USD/CHF
100:1 leverage (one percent)
1 lot (100,000)
Margin requirement: $1,000
Maximum Leverage under Proposed CFTC Changes
USD/CHF
10:1 leverage (10 percent)
1 lot (100,000)
Margin requirement: $10,000
Thank you,
Tim Newton
