Comment Text:
i0-001
COMMENT
CL-03495
From:
Sent:
To:
Subject:
Dave Clark
Sunday, January 24, 2010 10:48 AM
secretary
Regulation of Retail Forex
To Whom It May Concern:
I've just been informed that you're considering limiting the leverage allowed to US Forex Brokers to
10:1. Please, I beg you to reconsider. As a small-business owner, who has just gotten started trading
spot forex contracts, and, as forex trading is my sole means of support for my family, I
find this
potential regulation an unfair infringement of my rights.
As we all know, trading, whether in securities, commodities, currencies, etc., is very risky. I currently
use a 50:1 leverage, combined with strict money-management techniques, to ensure my business is
successful over the long term. And as I am just getting started, I
do not have the large amount of
capital needed to make a living using only 10:1 leverage.
Please, do not penalize those of us to take it upon themselves to use leverage in a responsible
manner.
We do not need more regulations, we need more personal responsibility for our actions. I've
worked very hard to build my business and have been very conservative with my investments.
Reducing leverage limits to 10:1 will proportionately reduce the income I can provide to my family.
I am strongly opposed to this regulation. Do
not implement it.
If you have any questions or comments, I will be more than happy to discuss them with you. Contact
me anytime.
David Clark - Owner
Live Better, LLC
RIN 3038-AC61
