Comment Text:
i0-001
COMMENT
CL-04697
From:
Sent:
To:
Subject:
John Lodge
Sunday, January 31, 2010 11:02 PM
secretary < secreta ry@ C FTC. g ov >
Forex 10:1 Proposal
To whom it may concern
I am a 22 year old up and coming forextrader I like to say who comes from a poor parents and a
poor family in general. I made the decision to attempt to trade forex with a minimal investment, in the
hopes to change the fact that I was living on government assistance. The forex markets proves to be
tough, I won some I lost some and when I lost it made me realize I would have to understand what I
was doing in order to actually profit and achieve my goal which meant I had to be fully functional in all
aspects of the economy the news the reports forex can be a great motivator for the investor with
nothing who wants to become something more and the only reason that is possible in forex is first the
volatility of the market and how diverse a group us investors are the new 10:1 leverage would not
make any of this possible any more the market participants would return to the same individuals as
they were before the internet age the banks the wealthy and individuals with 100,000.00 plus salaries
this is a move that would just about deplete all of the current participants with the exception of those
mentioned above the average working class individual would have almost no hope of participating in
the forex markets we the working class would be put exactly where we were before yet again stuck
between new government regulations and once more pushed back into the corner we have been
kicked back in so many times I am new to investing but from what I understand the CFTC is supposed
to be there to help us investors along with protect us not kick us out of the game I would not mind if
the max leverage was reduced but 10:1 is more of an attack than a proposal. We need to be protected
not torched on the spot
Sincerely
John Lodge
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