Comment Text:
i0-001
COMMENT
CL-05113
From:
Sent:
To:
Subject:
Jeff King
Sunday, February 7, 2010 11:00 AM
secretary
Regulation of Retail Forex
Mr. David Stawick
Secretary, Commodity Futures Trading Commission
1155 21st Street NW
Washington, DC 20581
RE: RIN 3038-AC61
Dear Mr. Stawick:
Please register my opposition to the CFTC proposal of a 1:10 leverage for retail Forex trading.
The Forex market's First Rule of Risk is that a trader should never trade with any more capital investment than he/she can
afford to lose.
The CFTC proposed leverage revision from 1:100 to 1:10 would increase the amount of my capital
investment by 10 times, a 1000% increase in risk exposure.
The basis for my opposition to the proposal is that it flagrantly disregards the Forex market's First Rule of Risk.
I will go overseas if this proposal is passed and so will about 90% of forex traders. The US wil suffer.
Jeff King
Roselle IL, 60172
[email protected]
