Comment Text:
i0-001
COMMENT
CL-04884
From:
Sent:
To:
Subject:
Dusty H
Wednesday, February 3, 2010 10:01 PM
secretary
Proposed Forex leverage limit
To whom it may concern,
As a current US retail Forex trader, I strongly urge you to reconsider your proposal to limit leverage to
10:1. I currently trade for a living, but I am only doing this until I can save enough money to start
another business - I sold my first business earlier this year. In order to effectively trade, 200:1 leverage
is preferable, with 100:1 being the minimum. If all traders in the US were limited to 10:1 leverage, I
think it would have an overall negative impact on the economy, but I can only speak for myself
personally. Since Forex trading is currently my main source of income, if I were to no longer use Forex
in this way, my contributions to the US economy (spending and taxes) would be severely reduced - I
would still be able to start another business, but it would take a lot longer for me to save up the required
funds. I want to be a productive citizen and do my part to contribute to the economy and the general
well-being of this nation and its people, but this proposed rule would severely limit my ability to achieve
these goals.
Thank you for your time and consideration.
Regards,
Dustin Howlett
