Comment Text:
i0-001
COMMENT
CL-04864
From:
Sent:
To:
Subject:
Sarah Stephenson
Wednesday, February 3, 2010 8:36 PM
secretary
Regulation of Retail Forex
To Whom It May Concern:
I am currently a foreign exchange day trader and have recently received notification of the proposed "10 to
1" leverage change. I would like to express my regret that we have come to a point in our society where our
government is trying to minimize our success. Lowering leverage will take out many "common man" traders who
can only afford to begin with an extra bit of money; however, I am certain that this is the main objective.
Regardless of the "we are only looking out for your best interest" rationale that will be quick to follow this change,
those who undertake the foreign exchange market are big girls and boys and should be accountable for
themselves. I am certain that a new trader would show 100% accountability for their profits, what makes their
loses any different? Furthermore, perhaps if other areas of our government have received the same attention and
inherent "change" that the foreign exchange market has received over the past year, our economy would be in a
much better state and the US Dollar would actually be worth something.
Sincerely,
A Disgruntled Forex Trader
