Comment Text:
i0-001
COMMENT
CL-04138
From:
Sent:
To:
Subject:
James Myers
Tuesday, January 26, 2010 6:56 PM
secretary
"Regulation of Retail Forex"
MR. Secretary,
Who is the CFTC, trying to protect, by lowering the leverage to 10:1?
The trader who has 'No' idea what Forex trading is about, or the trader
who has been an astute student and is making money trading the Forex market?
That's my way of thinking when the Governing body wants to tell
everyone what leverage they should use, then set it so low that
you are hard pressed to make a living with trading.
What happened to our free choice of choosing the leverage that
we feel is right for our account and ability?
Am a Forex trader, currently trading at a 50:1 leverage.
Not making much money but am having a ball learning and trading.
Definitely opposed to lowering the leverage to 10: 1.
The leverage is currently 100:1 which is down from
a max of 400:1 just a few months ago. Thought that was
a good move, but this is too much, 10:1.
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-
of 10:1 will make it hard to make any money
with small trading accounts. It will also cut the
amount or money that can be made with larger trading
accounts.
Respectfully,
James Myers
[email protected]
