Comment Text:
i0-001
COMMENT
CL-06499
From:
Sent:
To:
Subject:
Scott Bird
Sunday, March 7, 2010 7:27 PM
secretary
Cftc 10- 1 maximum leverage! I oppose this!
To it may concern
This leverage reduction would mean that I can no longer make a living as a retail Forex trader.
This is a ruling that would only leave the large institutions, hedge funds ,foreign investors and central banks
with the ability to
participate in this market. All who stay in the retail FX market will do this primarily by leveraging their money
(borrowing) to make up for the lack of FX leverage.
This seems to be perpetuating the systemic risk in the market you are trying to avoid.
There has been no abuse by retail investors and huge abuse by those being exempt from the proposed ruling.
All the money and years of time I spent learning to trade this market is down the drain. Will you reimburse me
for my time
and my money?
Retail investors can lower there leverage at any time.
Scott Bird
Retail FX Investor
[email protected]
