Comment Text:
i0-001
COMMENT
CL-04097
From:
Sent:
To:
Subject:
rkinvest
Tuesday, January 26, 2010 3:38 PM
secretary
Proposed Changes in CFTC rules
Sir:
I am against changing the amount of leverage allowed for a trader in the FOREX market. For the small trader like
me, the FOREX market is the only market where we can trade frequently without having large sums of money.
If the leverage changes from its present 100:1 ratio, the small trader is the one who will be hurt, not the
institutional investors or the wealthy investors. It is difficult to trade stocks and make much profit because of the
amount of money we need to buy several hundred or 1000 shares of a stock.
This change in leverage, thus raising the amount of money required in a FOREX trading account tenfold, is being
suggested because many new FX traders have lost money. This is not the fault of leverage. This is the fault of
poor money management on the part of traders. I would suggest that if a change is to be instituted, it would be
along the lines of providing new FX traders with money management training or guidelines for trading.
If the present leverage rule changes, this punishes the majority of traders for the poor decision making of a few
traders.
Regards,
Ray Keilman
(609) 909-0093
