Comment Text:
i0-001
COMMENT
CL-08778
From:
Sent:
To:
Subject:
Larry Johns
Sunday, March 21, 2010 6:56 PM
secretary
Regulation of Retail Forex
I am writing in regards to RIN 3038-AC61, and to the proposed
reduction of margin in trading the retail forex market.
I am 62 years old, single, and I have a limited source of income from
Social Security. I trade the retail forex market to pay for my
monthly expenses and future savings.
I trade with a $50,000 account at InterbankFX, and I use a
maximum of trading 1% for all daily positions. Using the current
allowed leverage of 100:1 enables me to trade successfully and
to pay my monthly expenses while saving for the future.
If the leverage were to be reduced to any less amount, I would have to use
much more of my account, and I would not be able to trade within
resonable risk parameters.
I do not desire to move my trading business to an overseas
account. I am asking that you keep the current margin
limits of 100:1 as has already been set by the NFA. Any
change would make it impossible for me to trade and make
enough money to provide for my living expenses.
Larry Johns
My address is P.O. Box 11147, San Bernardino, California,
92423, and my telephone number is 909-659-2126.
