Comment Text:
i0-001
COMMENT
CL-06088
From:
Sent:
To:
Subject:
Patrick Sharkey
Friday, March 5, 2010 10:02 AM
secretary
Small Forex trader
David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W.,
Washington, DC 20581
Dear Mr. Stawick,
I am a small Forex trader who makes about $300 a month trading on a $2500 account. I make one
trade at a time and can trade about 5 - i0 lots (i0,000 lot size).
The income helps me financially, as I have been forced to take a low-paying job, having lost a
decent-paying job a few years ago.
The proposed change in leverage would force me to trade very low lots, maybe 1 or 2, which would
earn me only a couple dollars per trade.
I would close my Forex account and go back to trading stocks, which, as you know, has a much
narrower time frame for trading and much less profit potential for a small trader.
As you consider the pros and cons of raising the leverage for traders, I hope you keep in mind that
small traders like me would be virtually eliminated.
Thank you.
Sincerely,
Patrick Sharkey
PO Box 1754
Royal Oak, Michigan 48068
