Comment Text:
i0-001
COMMENT
CL-00780
From:
Sent:
To:
Subject:
Spencer Beezley
Tuesday, January 19, 2010 6:19 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
Regulation of Retail Forex Comment:
Hello,
I am a full-time FOREX trader with a family of four. I owned my own retail business for several years
and was forced to close the doors in 2008 due to the downturn in the economy. Shortly thereafter, I
found the FOREX market when trying to determine what was next for me in my life careerwise. There
are very few good jobs in Springfield, MO where I live and FOREX was the perfect fit for me to where I
could pull in a good income and work from home. This regulation to change the leverage from 10:1
would be devastating to my trading. I don't have enough money across my accounts to trade and earn a
living from it at 10:1 leverage. I practice strict money management that allows me to open several
positions and trade several strategies. Without a leverage of 100:1, there is no way for me to continue
trading full-time. So that would leave my family and I in another predicament much like we faced in
2008 when I had to close my retail business. Captilism is what drives this country and many people are
able to run good FOREX businesses that are honest. This restriction would be devastating to so many of
us avid traders. Please reconsider this law to reduce leverage to 10:1.
Thank you for your consideration.
Spencer Beezley
