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Comment for Proposed Rule 75 FR 3281

  • From: Colin Christmas

    Comment No: 23
    Date: 1/14/2010

    Comment Text:

    Colin Christmas
    Thursday, January 14, 2010 4:35 PM
    Regulation of Retail Forex
    Dear Sir or Ma'am,
    It has come to my attention of a recent proposal to change retail Forex traders' leverage from 100:1 to 10: 1. I
    would really appreciate it if you wouldn't do that. I've been trading for 6 years and the whole purpose of trading
    leveraged accounts is to manage larger amounts of money, provided we trade wisely. With this new proposal to
    change leverage it would mean that we could control less and need to have a higher margin in our accounts to
    trade. What this potentially could do is pull other investment monies off of our other working investments to cover
    our Forex Margin, thus slowing the impact of money flow into other markets and consumer spending. Spending less
    can have a negative impact in our economy which is already struggling. I know we area small group but tougher
    regulations aren't the answer to the question.
    Why punish us for the negligent traders who can't manage their own margin and get into trading without a real
    understanding of how leverage works. Please find another way to idiot proof the Forex without taking it out on
    everyone. Casino's still run and people can gamble there if they like but that's not what experienced traders do.
    Kind regards,
    Colin Christmas
    Cell: 949-933-5703
    Office: 949-273-1897
    Skype: colinxchristmas
    St. George, UT