Comment Text:
i0-001
COMMENT
CL-06948
From:
Sent:
To:
Subject:
Chris Fisher
Friday, March 12, 2010 8:14 PM
secretary
Regulation of Retail Forex
Dear
Commodity Futures Trading Commission:
I am writing in regard to RIN 3038-AC61. I oppose limiting retail forex customer accounts to 10:1 leverage.
I am a teacher. But my small retirement account was never going to be enough (even before the Recession). So,
for the last 3.5 years, I have been learning the complicated skills of successful forex trading. I have spent the same
care, conservative perspective and intellectual rigor in learning this skill as I did getting advanced degrees and
teaching college. I now can carefully add to my retirement savings through this rigorous work in forex. If the
leverage is limited to 10:1, I will be unable to have enough capital to trade in any way that would allow me to
modestly add to my retirement savings. I am 58 years old and would be severely damaged financially.
If you want to prevent risky financial actions that a portion of people seem compelled to take, please close the
casinos in Las Vegas. Of course, there are retail forex customers who use high leverage and find themselves
quickly without any more funds to trade. But, as sociology and history shows, this cohort of the population will do
find another risky venture regardless of RIN 3038-A061. Please do not shut off my avenue to a small sense of
financial security as I move into my 60s and 70s. My teaching load has been cut due to the state budget crisis, my
TIA-CREFF portfolio has tanked--please don't take away my one avenue to gain a modest safety net.
Please do not limit retail forex customers accounts to 10:1 leverage. If the political reality demands some
change, 50:1 leverage would at least allow traders such as myself to continue to work in a fashion that makes
financial sense.
Sincerely,
Christy Fisher
