Comment Text:
i0-001
COIMMENT
CL-06976
From:
Sent:
To:
Cc:
Subject:
Ken Knollman
Friday, March 12, 2010 8:16 PM
secretary
[email protected]
Regulation of Retail Forex
David Stawick, Secretary
Commodity Futures Trading Commission
1155 21st Street, N.W., Washington, DC 20581
Dear Mr. Stawick:
Your proposed plan to increase margin requirements for retail forex by a factor of 10 has me, and I am
sure, many other forex traders deeply concerned. This plan is covered in language stated to protect the
consumer. If the consumer you are thinking about is the one who jumps into Forex with no education and
no ability to read and understand the disclaimers presented when signing up for a Forex account, then
please find a way to avoid penalizing those of us who have spent thousands of dollars and years of
education learning how to trade the markets properly.
I am in the process of trading for a living after losing my job of 38 years, and your plan will derail my ability
to make a living. This plan will effectively reduce my income potential to as low as 10% of my current
capability.
May I suggest that the dealer sets the consumer's leverage according to a criteria that may, perhaps,
include a list of courses attended or records of simulated trades completed?
Please do not penalize those of us who are trying to make trading a business.
Sincerely,
Ken Knollman
9914 Winnebago Trail * Cincinnati Ohio 45241
Home: 513-563-8968 * Cell: 513-560-6830
