Comment Text:
i0-001
COMMENT
CL-04993
From:
Sent:
To:
Subject:
wayne etherly
Thursday, February 4, 2010 1:49 PM
secretary
Regulation of Retail Forex
Dear Secretary of CFTC
Identification number RIN 3038-AC61
I am a Forex Trader. I've been trading for about a year now. I've invested money in my training and I'm
working with a good broker in Fxsolutions.
However in this past year with the changes in regulation on leverage and margin accounts, these
regulations have hindered my progress in the business of my choice. With proper money and risk
management I as an independent trader am able to determine my risk per trade and the amount of money
necessary for my trading account. In this economic downturns Im able to trade without having to have
an account of 50K or 10K. The proposed changes in leverage amounts will pretty much make trading to
expensive for me to participate in. Inherent in the American Dream is always a calculated risk. A real
business man and traders are business people must determine their level of acceptable risk for the
business of their choice. Your proposed regulation changes though Im sure considered to be a good
thing to protect investor is damaging the overall business. When regulations make a business to
expensive to participate in because of federal regulations the intended affect of the regulations
completely hurts the business as a whole, so the intended desire to help only hurts and detroys.
Speculation is a business entered in by those who accept the inherent risk involved. Your regulation
changes only stifles the creativity of the trader whose desire is to make a profit. I ask you to not damage
the business by lowering leverage levels for retail FOREX traders.
Thanks
Wayne Etherly
