Comment Text:
i0-001
COMMENT
CL-03788
From:
Sent:
To:
Subject:
BARRY STREET
Monday, January 25, 2010 1:50 PM
secretary
proposed changes to Forex leverage rules.
Dear Mr. Secretary:
I am writing concerning the proposals being put forth to loweing Forex leverage from
100:1 to 10:1.
I am a private trader and have only been trading Forex for a year. I do not, at the
moment, depend on trading for a living but that is my goal. As a private trader learning
the market the current rules allow me to trad a mini lot that only costs me $100. Under
the new rules I would have to invest considerable more to learn to trade. Yes I can paper
trade but from a psychological point of view trading live and trading on paper will often
produce considerable different results.
I am a Canadian and have selected a U.S. trading company, MB Trading, to open a
trading account with. I made this decision because of their competive commission
structure but more importantly because of what I believe is a superior training program
that they offer.
If these rules go through I may be forced to looking for another company to provide me
with the platform to trade even though I do not believe there is anyone out there to match
the qualtity of MB Trading. What ever that company would be obviously will not be
American because of the severe limits on margin.
Although this new proposed rule will be challenging to the "big guys" once again it is the
"little guy" that will suffer most.
I appreciate your job is to protect all of us from a market that is allowed to run out of
controll but please provide the small trader with the abiltiy to participate.
Thank you for your time.
Barry Street
8 Highgate Place
Brantford, Ontario
N3R 5V4
519 757-0722
Barry Streeti0-001
COMMENT
CL-03788
Sales Representative
Portcullis Realty Corp.
905-319-7707 ext. 4
519 755-5660 Cell
519 757-0723 Fax
www.UsellUsave.ca
