Comment Text:
i0-001
COMMENT
CL-04388
From:
Sent:
To:
Subject:
Kenneth Anderson
Thursday, January 28, 2010 5:20 PM
secretary
regulation of retail forex
Rin-3038-AC61,This email is in regards to the proposed change in
leverage regulations please understand by changing the leverage
requirements from 100:1 to 10:1 and thereby raising the margin
requirements for a standard account from 10005 to 10,000 you will
severely limit the ability of every trader in the forexmarket to be
profitable and with higher margin requirements you will have slammed
the door in the face of thousands of traders in the United States who
use the Foreign Exchange markets as a way to get their foot in the
door of the trading world. What you might fail to realize is that
people like myself who endeavor to trade the markets do so in order to
better our lives buy making more money to quit jobs we hate start our
own business's or spend more time with our children or enjoy our lives
in countless other ways you're proposed change in regulation would
take away one of the last viable means buy which people like myself
and countless others can achieve these goals and lets not forget that
all prospective traders do their home work by being mentored reading
countless books from experienced traders we take this seriously we
know the risks involved an I stand behind the belief that every trader
should be given the freedom and right to choose the amount leverage
that is appropriate for their individual desired risk and that this
basic principle of choice should not be jeopardized by the proposed
change in the CFTC regulations.
