Comment Text:
i0-001
COMMENT
CL-02870
From:
Sent:
To:
Subject:
Jeff Cramer
Friday, January 22, 2010 4:52 PM
secretary < secretary@ C FTC. g ov >
Regulation of Retail Forex
Re:
RIN 3038-AC61
I feel strongly against raising the margins on retail forex trading. This forum has beena
way for me to free myself from a lifestyle of working for others and being subject to the
economy and it's negative fallout. For there to be such a HUGE change in the margin
requirements would be very detrimental to my plan and trading strategy and would be a
huge burden on my finances. It would also be detrimental to those who are new to
trading and wish to work on their strategies without putting up to much risk capital.
Part of this process for me, and many people I know, is to work out issues with trading
by "getting your hands dirty" and trading out your system's bugs and personal issues,
which means losing some money. As I'm sure you're aware, trading is mostly
psychological, and the higher margins allows a person to trade through their
psychological barriers with a smaller amount of up front cash. It would also takea
trader a lot more time to get up the funds to be able to trade for a living, greatly
decreasing the "average guys" chances of getting into this field.
I realize that a lot of people lose a lot of money in this venue, but it's not for everyone.
People lose a lot of money in many ventures (ie. restaurants, retail stores, etc). As with
any prospective business, those that learn and do their homework before hand will be
successful, those that don't, won't.
Please reconsider the margin changes so I don't have to take my accounts to foreign
countries.
Thanks,
Jeff Cramer
Northern California
Hotmail: Free, trusted and rich email service.
Get it now.
