Comment Text:
i0-001
COMMENT
CL-04781
From:
Sent:
To:
Subject:
Johnny Earley
Tuesday, February 2, 2010 12:28 PM
secretary
Regulation of Retail Forex
Good Day Mr. Secretary. I'm writing you today to just share with you my comments on the latest
proposed rule changes in the Forex market involving leverage. First let me start by saying i will not be
disrespectful or use any foul language. But I do want to say that I do not like nor agree with the possible
change to a 10/1 maximum leverage for retail investors/traders. I've been trading the Forex market for
the last 4 years and have come accustom to having 100/1 leverage. I understand that this is being done to
protect other individuals who may not have a full understanding of how to protect themselves when
using leverage and to ensure safety of the "Lil guy " (retail investor), but at the same time you do have to
understand that in trying to protect those who haven't properly educated and prepared themselves by
either demo trading or with live experienced over time you are putting those of us who have been
trading in these markets for the past three years plus, at a SERIOUS DIS-JUSTICE &
DISADVANTAGE. We the experienced trader/investor have navigated these markets threw the
worst Financial Market since the Great Depression and thou there are a lot of us who have had hard
times and not succeeded in our trading, there are those of us who have been profitable also. That is
what Capitalism is all about right? And we do live in a capitalist society right??? In asking these
question i have to ask one more than I'll let you go. Why do the new proposed rules only target the Lil
Guy(retail investor)??? We did not bring the markets to the point they were back in 2007-2008!!! A lot
of us retail traders are looking to make back and possibly profit a little from those ruff times. If you
allow this proposed rule to take effect your once again putting us the Lil guys at a major disadvantage to
the BIG BOYS!!!! You have to understand that to a lot of us this sounds like the same "OLD WALL
STREET" sticking it to those of us who have the short end of the stick already!!!! So for me and a lot of
my fellow traders/investors I ask that you REALLY reconsider this part of you're regulation reform and
to show that I'm not all negative I want to commend you for ALL the other parts of the Regulation that
you have put together I feel that those are great ideals and much needed!!!! But when it comes to
"RIN
3038-AC61" PLEASE
just say NO!!!!! Thanks 4 your time.
