Comment Text:
i0-001
COMMENT
CL-04438
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[email protected]
Friday, January 29, 2010 10:59 AM
secretary
Public Submission for 2010-00456
Public Submission for 2010-00456.zip
Please refer to the attached file.Please Do Not Reply This Email.
Public Comments on Regulation of Off-Exchange Retail Foreign Exchange Transactions and
Intermediaries:
Title: Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries
FR Document Number: 2010-00456
Legacy Document ID:
RIN: null
Publish Date: Wed Jan 20 00:00:00 EST 2010
Submitter Info:
first name Ahlam
last_name Oughla
address1 109 66th
city West New York
country United States
us state NJ
zip 07093
company
I have been trading the FOREX for about two years, and thanks to its leverage otpions
(100:1), i have been able to make additional income that has helped a lot when the economy
turned around. I can pay 70% of my rent and monthly bills through what i earn trading foreign
currency and I believe that a major reduction of leverage will push me out of the market and I
may even have to find a second job which is schedule wise impossible. Just with any other
market there is risk, but unless i had the billions of dollars that big banks invest in the forex (
and which make them profitable), the leverage reduction would completely shut off the retail
traders who rely on this market as a source of income that helps them provide for their
families.
If this rule is supposed to help the retail traders, please keep ~n mind that going through with
it, will only force them to exit the market...which is not in my or any other Forex trader's
interest at all. It would actually cause harm and damage to our finances.
