Comment Text:
i0-001
COMMENT
CL-06702
From:
Sent:
To:
Subject:
John Wade
Tuesday, March 9, 2010 8:35 PM
secretary
Regulation
Dear CFTC,
I am totally against lowering leverage for Forex trading. Traders do not need the government or any
agency to protect us. Traders as a group are extremely intelligent individuals and can determine their
own risk levels. Most traders spend thousands of hours reading, studying and learning from other
successful traders about money management and risk. In fact, alot of the most successful traders in the
world " blew out " their trading accounts early on in their trading carreers and in most cases this learning
experience is what made them successful, by learning from their mistakes. If I blow out my account, I
am the only one responsible. I do not want or need the government or CFTC to protect me and tell me
how to trade or how much I can trade. Instead, why dont you offer traders educational risk
management, money management courses if you feel the need to control their risk .I vote
overwhelmingly NO to lowering leverage to 10:1 . I personally would never trade at 50:1 or 100:1
leverage, but I reserve the right to do so as its my money at risk.
Sincerely,
John Wade
Part Time Forex Trader with over 15 years trading experience.
