Comment for Proposed Rule 75 FR 3281
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From:
Merle Shenk
Organization(s):
Comment No:
944
Date:
1/20/2010
Comment Text:
i0-001
COMMENT
CL-00944
From:
Sent:
To:
Subject:
Merle Shenk
Wednesday, January 20, 2010 10:00 AM
secretary
No to 10:1 leverage proposal
Dear CFTC,
I appreciate most of your proposed regulation of the forex markets
within the USA. Requiring the the registration of forex brokers and
companies and those who work for them will be valuable for protecting
the investor from scams.
I do strongly object to the 10:1 maximum leverage though! This would
be very detrimental to us small traders who trade successfully but
with smaller amounts of money. It would mean that we could not trade
at all or that our lots would be so small that profit taking would be
very small.
I believe that imposing 10:1 maximum leverage would be stepping on
the little guy. Which is opposite to the values by which the USA was
founded. Yes forex trading involves risk. But risk is good and
important for learning and success.
Regards,
Merle Shenk
