Comment Text:
i0-001
COMMENT
CL-00575
From:
Sent:
To:
Subject:
EVAN MATHEW CROWTHER
Tuesday, January 19, 2010 1:12 PM
secretary
Regulation of Retail Forex
Identification #: RIN 3038-AC61
To whom it may concern,
My name is Evan Crowther, I am a 26 years old Utah resident, currently working full-time and attending
school full-time. As you can imagine my schedule is busy and my income is low. I began trading
currencies as a source of second income and have been doing so for three years now. Currency trading
is unnaturally hard and nearly impossible to attain a steady stream of income. Ninety eight percent of
traders will lose more money than they make on Forex. I have lost over twenty thousand dollars up to
this point to what I consider a worthy cause as I have high hopes of becoming a professional trader.
Current leverage regulations make it possible for people like me to trade on a very small level. Most
orders made by micro-traders will involve only thirty dollars at a time. If the CFTC regulates the Forex
leverage it will eliminate the average person from the market, kill the concept of allowing all people an
opportunity of the "good life". These newly proposed regulations by the CFTC will eliminate
fundamental American ideals and turn Forex into a discriminatory and elite money machine where
ONLY the rich can become richer. Our fore fathers envisioned the global market as an opportunity for
all to benefit as they created our constitution. The changes the CFTC want to make are irreverent and
disgraceful to our fore fathers and everything that Americans stand for. Please do not try to fix
something that is not broken. Please allow all people to continue to have an opportunity in the global
market. Please DO NOT pass this proposed leverage restriction.
Thank you,
Evan M. Crowther
evanmcrowther@gmail, com
