Comment Text:
i0-001
COMMENT
CL-02919
From:
Sent:
To:
Subject:
hmnelson
Friday, January 22, 2010 6:00 PM
secretary
10:1 Leverage
To whom it may concern,
I am a stay at home dad who ran across the opportunity to be had in FOREX trading. I am counting on the income
I can make for my family. I am sure there are more people like me who study and learn how to effectively use
money management rules in their trading plan so not to wipe out their equity. Right now I can make, using my
trading plan, a conservative $100 a day by trading 5 mini lots. With 100:1 this is perfect requiring about $500. I
got an annuity check from my union for $3700 for my 3 years of work with them. All the work ran out and my wife
has to work. A tighter leverage will make my $100 a day to risky. I will be forced to move my account to the UK. I
would rather not.
Every FOREX dealer's website I ran across, while I was researching who I wanted to go with, had plenty of
education on what not to do. Everyone of them recommended using a practice account before live trading. They
all provided education on leverage and how it works. It is not ethical to take away the American dream from some
of us little guys who see FOREX as a means to change our family's financial future. Let the ignorant pay the price
of ignoring the disclaimers that are all over the internet and not having the patience to educate themselves with
practice accounts. It is not the retailers fault for stupid people. All the education, warnings, and protection won't fix
our problem of there always being ignorant people. Please don't make countless millions pay the price for
irresponsible people.
Thank You for your time,
Harold
[email protected]
