Comment Text:
i0-001
COMMENT
CL-08886
From:
Sent:
To:
Subject:
Bob LaRock
Monday, March 22, 2010 4:01 PM
secretary
REGULATION OF RETAIL FOREX
TO THE COMMODITY FUTURES TRADING COMMISION:
I
OBJECT TO CHANGING OR LIMITING THE LEVERAGE OF RETAIL FOREX FROM 100 TO 1 DOWN TO 10
TO 1.
TRADERS IN ANY OF THE MARKETS NEED TO STUDY THEM CAREFULLY AND PAPER TRADE THEM
SETTING PROFIT AND LOSS LIMITS UPON ENTERING ANY TRADE AND ACHIEVING A HIGH SUCCESS
RATE BEFORE TRADING WITH REAL MONEY.
THOSE THAT DO NOT USE THIS PRUDENT PROCESS CANNOT BE SAVED FROM THEMSELVES AT ANY
LEVERAGE LEVEL.
THE EXISTING LEVERAGE ALLOWS PEOPLE TO START AN ACCOUNT WITH LESS THAN $1000 AND
PUT UP AS LITTLE AS 1% IN ANY ONE TRADE. THIS MARKET MAKES IT POSSIBLE FOR THE LITTLE
GUY TO PROFIT $100 WITHOUT HAVING TO BUY 1000 SHARES OF SOME STOCK TO MAKE THE SAME
AMOUNT.
THE PROPOSED LEVERAGE CHANGE WOULD MEAN THAT THE SMALL TRADER WOULD HAVE TO
RISK 10 TIMES AS MUCH OF HIS ACCOUNT TO ACHIEVE THE SAME REWARD.
THIS PROPOSAL TO SAVE THE RECKLESS IS A PUNISHMENT FOR THE LITTLE GUY TRADER THAT
HAS STUDIED AND PRACTICED THIS RETAIL 4X MARKET AND HAS SUPPLEMENTED HIS INCOME
FROM SOCIAL SECURITY OR HIS LOW PAYING JOB.
THIS IS SUPPOSED TO BE THE LAND OF OPPORTUNITY WHERE THE LITTLE GUY CAN PULL HIMSELF
UP BY HIS OWN BOOTSTRAPS. DON'T PUT UP THESE ROADBLOCKS THAT PREVENT INDIVIDUAL
PROGRESS AND INITIATIVE.
SINCERELY,
ROBERT G. LAROCK
10426 60TH AVE. WEST
MUKILTEO WA 98275
