Comment Text:
i0-001
COMMENT
CL-05093
From:
Sent:
To:
Subject:
Oakie5th
Saturday, February 6, 2010 3:17 PM
secretary
Regulation of Retail Forex
Dear Mr. Secretary:
I have been reading about the proposed rules calling for the restricting of leverage to 10-to -1 in the Forex
Currency Trading Market. I am not quite sure of what the CFTC is trying to accomplish other than to
eliminate retail traders in the Forex Market dealing with U.S. Brokers. This would certainly be a major set back for
all retail traders and for me personally since I trade very seriously and very conservatively as a means of
supplementing my income. With the current dismal economy in the United States today, it would be a great
hardship for me to not have the Forex Retail Market as an option to supplement my yearly income.
Of course, I guess I could move to an overseas broker, but that just doesn't feel right or comfortable for me. I
sincerely hope that you will give strong consideration to us, the small retail traders, when you consider this ruling.
In spite of the obvious "gambler" type of trader that plays in the market, there are a substantial number of very
conservative, money management professionals who trade this market very responsibly.
Thank you for allowing this forum for me to express my concern.
Sincerely,
Barry R. O'Connor
