Comment Text:
i0-001
COMMENT
CL-07528
From:
Sent:
To:
Subject:
Rick Turner
Sunday, March 14, 2010 8:53 PM
secretary < secreta ry@ C FTC. g ov >
Re: proposed leverage change
Dea r Sec reta ry.
As a Part time trader of the spot forex market i am opposed to any
change to lower the maximum limit
of leverage. The proposed change makes it to hard for individual trader
with accounts of $10,000 or less
to make substantial gains. It is my goal to become a fulltime trader in the
near future. This change will impact my ability to achieve my goals.
It is the responsibility of each trader to understand leverage and use it
properly. If you are concerned about traders losing account capital. I
would rather see a mandatory training program on leverage and the use
of mandatory stop loss. People who use margin correctly can trade an
account with 400:1 leverage with no adverse effect on capital.
In closing. This change does more harm than good to the traders who
know the market and use margin correctly. Please do not lower the
leverage.
I would be happy to speak with anyone at your office about this. Please
feel free to contact me if you wish.
Thank you.
Rick Turner.
313 378 0651
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