Comment for Proposed Rule 75 FR 3281
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From:
Kenneth E Vogt
Organization(s):
Comment No:
3009
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-03009
From:
Sent:
To:
Subject:
Ken
Friday, January 22, 2010 8:31 PM
secretary
"Regulation of Retail Forex"
RE: ID # RIN 3038-AC61
Dear Mr. Stawick:
I am just a small trader who trades only my own account.
Please
do not
change the margin requirements from the current 100:1 to the proposed 10:1.
First, it would make it too costly for me to trade ..... as I would have to increase my
account size to adjust for less leverage, and tough to come up with that much money
(I trade mini accounts). How many people could afford a home mortgage if they were
required to put 90% down instead of 20% .... that idea.
Second .... all I do is adjust the number of mini lots I trade to the total dollar amount I want
to risk on a trade, and having 100:1 leverage allows me to vary my trade amount accordingly.
If you feel you must do away with the 100:1 ......
50:1 should be the alternative to consider,
not 10:1.
Thank you,
Kenneth E. Vogt
