Comment Text:
i0-001
COMMENT
CL-01555
From:
Sent:
To:
Subject:
Bob Muniz
Thursday, January 21, 2010 5:11 AM
secretary
Regulation of Retail Forex
RIN 3038-AC61
Dear David Stawick, Secretary
I am a graveyard shift part-time forex trader. I hope to earn enough money to trade full-time and quit my
day job. I am only 25 years old but for the past 7 years I have been trying to find where I can work and
enjoy what I do while making a lot of money. I have been working hard and studying the forex market
for about 3 years. I can honestly say that I have lost $2,500 dollars, but I can honestly say that I have
quadrupled my money an equal amount of times. I recognize my problem is a lack of discipline - not
leverage. Leverage is what allowed me to quadruple my balance in a week. I don't want my years of
hard work to be wasted when my leverage is squashed to 10:1. I trade with the $500 1 get every few
months. I have turned that into $2500+ (in a few weeks)multiple times with 400:1 leverage. It is as
simple as this. With 10:1 leverage I will not profit enough to continue the work necessary to make any
trades unless the forex market becomes extremely volatile. Otherwise I will turn $500 into only $575+
(in a few weeks)multiple times .... Please do not kill my dreams with regulation that has done nothing to
protect me. I am afraid that the current and future regulation of the part-time home trader will drive me
out of the market. Taking away my freedom of leverage and hedging has no foreseeable benefit to me,
the markets, and my retail broker. Please reverse the hedging and leverage limitations.
Thank you,
Robert Muniz of San Francisco California
