Comment Text:
io-ooi
COMMENT
CL-03222
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Attach:
[email protected]
Saturday, January 23, 2010 10:59 AM
secretary
Public Submission for 2010-00456
Public Submission for 2010-00456.zip
Please refer to the attached file.Please Do Not Reply This Email.
Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries:
Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
FR Document Number: 2010-00456
Legacy Document ID:
RIN: null
Publish Date: Wed Jan 20 00:00:00 EST 2010
Submitter Info:
first name G.
last name F.
address1 Barnes Ave
city Bronx
country United States
us state NY
zip 10467
company
I make a living from trading Forex and the propsed rules would devastate my ability to make
any money to feed my family. THis is not a game in these hard economic times. As a retail
trader, I have accepted the risk associated with using high leverage which is how I have
manged to have the same opportunity to make money as big businesses and institutions. I
beseech whoever is considering reducing leverage requirements to NOT do so as it would
eliminate the ability of traders like myself to earn a living at all. This is not fair since each of
us is responsible for how we use money management to control the inherent risks associated
with Forex trading. Leverage has aalready been reduced from 200:1 to 100:1 which has not
affected our ability to continue making money. However, the current proposal for 10:1 would
simply remove the ability of full time traders to make money at all. DO NOT tamper with the
livelihoods of people that trade Forex for a living in this country. Thank you.
