Comment Text:
i0-001
COMMENT
CL-05119
From:
Sent:
To:
Subject:
[email protected]
Sunday, February 7, 2010 3:47 PM
secretary
A Disabled American Veteran's Opposition to reducing retail FX
leverage
Dear Sirs,
It is with a heavy heart that I write to you today as your proposal to reduce retail forex margin to 10:1 would
adversely impact the livelihoods of millions of disabled Americans. Each year more and more disabled
Americans and their families rely on online trading and more importantly online retail forex to support
themselves and their families.
As for myself, since suffering a permanent disability in 2004, I struggled to find ways to support myself and my
family. Disability benefits alone paid far too little as I was forced into bankruptcy due to the
unexpected disability. After attempting several unsuccessful online business opportunities, I was eventually
introduced to retail forex through a TV add on MSNBC.
I purchased and read books on technical analysis of the financial markets and sought all available information
so as to learn the skills necessary to trade with consistent profits. I trade my personal forex account utilizing a
100:1 margin and have been doing so successfully since April 2006.
The monthly income that I have consistently earned from my trading has allowed me and my family to
reacquire the standard of living that we had before my disability. Furthermore, my 2008 and 2009 earnings
have exceeded my pre-disability earnings so that I no longer require disability payments.
If your proposal to reduce margin to 10:1 were to become law, I would no longer be able to support my family
with my current trading resources.
Shame, shame on you and your colleges should you decide to implement this far over-reaching restriction on
retail forex.
Regards,
Fred Fields
