Comment Text:
i0-001
COMMENT
CL-08607
From:
Sent:
To:
Subject:
Calvin Wang
Friday, March 19, 2010 12:58 PM
secretary
Regulation of Retail Forex
RIN 3038-AC61
Dear Secretary,
As both a retail forex trader and a retail forex charting package developer, I strongly object the proposal for the new 10 to 1
leverage rule.
I understand the purpose for this proposed rule is to protect the small retail forex trader like me. However, this new rule will
just do the opposite from my point of view:
1.The proposed rule will eliminate my small account. Most of small forex trader use the small real money account to improve
their trading skills. Now I will have to put 10 times more money in the account without enough trading experience. I might
lose 10 time more money than now.
2.With the new rule, most of small retail forex traders will disappear. They are the major customer of my company. We
develop forex charting package for small traders. Our company will have to be shut down under the new rule.
In a short, this new rule does not protect me, it will kill me. I will lose both my job and small forex account in the US.
Calvin Wang
Vice President of Technology
www.fxtrek.com
(203) 9610918
