Comment Text:
i0-001
COMMENT
CL-06905
From:
Sent:
To:
Cc:
Subject:
ken willard
Friday, March 12, 2010 7:26 PM
secretary < secretary@ C FTC. g ov >
cftcfeed back@ fxd d. corn
'Regulation of Retail Forex'
RIN 3038-AC61.
"leverage in retail Forex customer accounts would be subject to a 10-to-1 limitation,"
which means 10:1 leverage would be the maximum amount allowed for Forex traders in
the U.S.
Dear David,
I trade Forex and have for about 3 years. I am just a regular guy and that is who is going to be
hurt with this proposed legislation. It will not hurt the rich, just a regular guy like me trying to
make money. There are so many things that should be done to protect people in this market but
one of them is not by taking away my ability to trade! This just hurts the guy with limited funds to
trade!
I guess in some peoples mind not being able to trade is protection because if you can't trade you
can't loose. But again this just hurts those of us that can't afford to trade off the new rules. We all
know the risks that are involved and if you don't then you deserve to loose your money. There is
no cheating in this regard, it is all upfront on how leverage works and the risk involved and a
trader must use good money management. YOU CAN NOT PROTECT ALL THE IDIOTS AT A COST
TO THOSE OF US THAT HAVE TAKEN THE TIME TO LEARN THIS FORM OF TRADING! THEY SHOULD
NOT BE TRADING AND IF THEY CHOOSE TO TRADE WITH ALL THE WARNINGS THAT ARE
CURRENTLY IN PLACE THEN THEY CHOOSE TO ACCEPT THE RISK INVOLVED! BUT ALLOW THOSE
OF US THAT ARE SERIOUS THE ABILITY TO MAKE MONEY!
And as you know this is only going to hurt Americans and American brokers! Please will someone
at the Government learn and understand this business before damaging it and me! LISTEN to us!
I URGE YOU, DO NOT PASS THIS LEGISLATION AND HURT THE AVERAGE GUY LIKE MYSELF!
Ken Willard
Average ForexTrader
Seattle, WA
253-732-0452
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