Comment Text:
i0-001
COMMENT
CL-00451
From:
Sent:
To:
Cc:
Subject:
kitchen78 @com cast. net
Tuesday, January 19, 2010 10:20 AM
secretary
kitchen78 @com cast. net
"regulation of retail forex"
Dear cftc,
My name is ...Gregory J. Kitchen
Address .........971 East 4555 South
Salt Lake City, UT 84117
Phone............ (801)268-8955
Email .............kitchen78@comcast, net
I just received word that you are considering changing the leverage for retail forex investors
from 100:1 to 10:1. Please I urge you DO NOT take this action. For the informed, educated
and trained individual forex trader, his/her capital is not in danger, in that, they understand both
leverage and risk, and equally important trading, and the inherent safety measures of stops
and limits.
The forex market is the greatest financial/securities market in the world. This significant
change in leverage that you are proposing would change the market to such an extent that you
would dash the hopes, dreams and aspirations of retail customers all over the world. The
analogy that comes to mind is that you would do to the forex market, what the oil companies
did to consumers when prices exceeded $4.00/gallon, it was bad for everybody!...many traders
would no longer be able to participate in this potentially lucrative market, and that being the
case many companies associated with the forex market business, with all their employees
would be looking for other work. I just can't see this as a good thing.
Thank you for your time and attention on my behalf,
Sincerely,
Gregory J. Kitchen
