Comment for Proposed Rule 75 FR 3281
Note:
If you experience an issue clicking on the "View Comments", the "Submit Comments", or any other buttons, please clear the cache in your browser and refresh the page. In Chrome or Edge, you may refresh the cache by holding down the ctrl key and clicking the F5 button.
-
-
From:
Tim Newton
Organization(s):
Comment No:
1154
Date:
1/20/2010
Comment Text:
i0-001
COMMENT
CL-01154
From:
Sent:
To:
Subject:
Tim Newton
Wednesday, January 20, 2010 9:19 PM
secretary
Apposed to R1N 3038-AC61
Hello Secretary of CFTC,
I'm a forex currency trader and I'm sending my dissapproval of the new CFTC changes in RIN 3038-AC61. 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 in RIN 3038-AC61. 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 in RIN 3038-AC61. 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
