Comment Text:
io-ooi
COIVIMENT
CL-06507
From:
Sent:
To:
Subject:
fj k
Sunday, March 7, 2010 10:20 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
The CFTC restricting forex leverage to 10:1 will destroy forex trading. Destroying forex would almost
appear to be the goal of the CFTC! First the leverage was lowered to 100:1, then hedging was
disallowed, and now lowering the leverage to 10:1 is almost the last nail in the coffin.
Supposedly all this is done "for the trader's best interest". Well, why not let us figure out what is in our
best interest. Mounting losses is a real clue to any trader with a brain to change tactics or quit. Another
clue is the risk would be too great trading at 10:1 to make it even worth trading. You would have to
trade too much money to make very little.
So, if the CFTC really is looking out for the best interests of the trader, then don't leave 100:1. If
anything...go back to 200:1.
