Comment for Proposed Rule 75 FR 3281
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From:
Dan E Craig
Organization(s):
Comment No:
2446
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02446
From:
Sent:
To:
Subject:
Dan Craig
Friday, January 22, 2010 4:03 AM
secretary
Regulation of the retail Forex
RE:RIN 3038-AC61
Dear Sir,
I am very much against the proposed regulation reducing the leverage amount from 100:1 to 10:1 in the Forex
market for a number of reasons, the first of which is freedom of choice. The trader should have the right to choose
rather than have the goverment "protect" him or her by limiting the choices available. That's like saying there
should only be white bread or wheat bread available in grocery stores because rye bread costs too much or
people who buy it reallly can't afford it.
Yes it is a risky market but traders who are in it are well aware of that fact. Without major leverage the small
investor is severely limited at ones chances of improving ones account from a small investment into a better
investment.
The current conditions of the markets and trading systems are fine as is. The recent changes in reulations are
enough. We don't need any more that this point, utnil the first changes have been in effect long enough to see if
other changes are warranted. As an individual trader, I say wait on any further regulation.
I like things the way they are.
Sincerely
Dan E Craig
emal address: [email protected]
1400 Pecos Avenue
Fort Sumner, NM 88119
