Comment Text:
i0-001
COMMENT
CL-04452
From:
Sent:
To:
Subject:
Marie Bruno
Friday, January 29, 2010 2:43 PM
secreta ry < secreta ry@ C FTC. g ov >
leverage level on margin requirement.
Dear CFTC Secretary,
Most traders understand and appreciate what the CFTC is trying to do to keep us from loosing
more than our shirt using unscrupulous brokers to trade on the foreign currency market. However,
reducing the leverage level is not one of the step that would accomplish that. If anything, this is
certain that small traders will be stopped out often and quickly because the leverage level leaving
no room for market swing and volitility.
I implore you to reconsider this strategy as it would not help us in any way. With that
rule, currency trading will go back to those that have a lot more money than the typical trader.
Whether we trade for living or on a spare time basis, Uncle Sam gets it share in taxes only when
we gain. This new rule will put most of us on the loosing end.
Thank you so much for all you do,
Marie
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