Comment Text:
i0-001
COMMENT
CL-08276
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Sent:
To:
Subject:
wkeidson @dslextreme.com
Wednesday, March 17, 2010 6:44 PM
secretary
regulation of the retail forex industry
Regarding R1N 3038-AC61 I would like to express my intense disappointment that the CTFC is about to
wreak havoc on my ability to make a living.
I don't know what the thinking is around the offices of the CTFC but whatever it is, it is grossly flawed.
What the CFTC is proposing regarding the leverage parameters is insanity. We in the retail trade need
that leverage in order to be able to make a decent living. If you cut it to 10:1 you can kiss the retail trade
in the US goodbye. Actually I think that is the agenda of the government anyway because even, given
the fact that you people are government employees, you couldn't be so enept as to think that what you
are proposing will help the retail trader. No one could be that misinformed. (could they?) Think about
it. Only people who shouldn't be trading lose there money trying to make money in a business where
you need to do your homework. Many people think that its easy and that they will make a ton of money
trading. These are the losers that should not be trading, and who take themselves out of the business by
over leverageing and not paying attention to business. It's the natural order of things. The rest of us use
the leverage options responsibly and need that leverage in order to trade at a level that is profitable.
Please leave the forex market alone and let us take care of ourselves.
Thanks, WK Eidson
