Comment for Proposed Rule 75 FR 3281
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From:
Richard Monaghan
Organization(s):
Comment No:
2896
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02896
From:
Sent:
To:
Subject:
BUBBLEZ < [email protected]>
Friday, January 22, 2010 5:34 PM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
hello my name is richard monaghan and it has come to my attention of the cftc plans of the 10:1
leverage for retail traders, i would just like to say to you that i disagree about this particular plan
but agree with that brokers need to be regulated and under stricter rules to stop scares and fraud.
the reason i disagree with this leverage limit is i find it unnecessary and i this year will be trading
the forex market as a living as i am struggling to make a living due to loss of jobs and other
personal situations and the leverage that is available to me makes me making a good income from
forex achievable i do understand the risks involved in trading the forex market and the risks
involved with leverage but this is my choice to trade and i'm sure i can make a good income to
substitute my job loss but if you did change this leverage and cap it at 10:1 then me achieving any
type of success is absolutely impossible also you would of taken away the choice that was
available, please take this as a serious objection towards the cftc plans of the leverage limit of
10:1.
many thanks
richard monaghan
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