Comment Text:
i0-001
COMMENT
CL-03117
From:
Sent:
To:
Subject:
Alfred McCorrie
Saturday, January 23, 2010 2:28 AM
secretary
Re:
Proposed New CFTC Rule on Forex Margin
Dear Sir/Madam
I view with consternation the proposed new rule on limiting forex margin to
10:1. This will have a devastating effect on my trading. It will
effectively stop me trading at all.
Sir!Madam I do not need this kind of dubious protection.
Suppose it was thought necessary to put up crash barriers along the side of
every road, street, or sideway, in order to stop jaywalkers of any
description, wandering on to the road. Would you see any need for this kind
of action?
In any situation in the present world situation there is a need for the
individual to 'grow up' and accustom themselves to the prevailing risks, so
far as they are able, or course.
Preventing the small amount of risk the individual can't cope with, or may
be perceived to be unable so to cope, may be totally outside the realms of
the acceptable.
I respectfully compare the proposed rule on margin to be in the same
category as the above.
I therefore would like to suggest to the CFTC that they might reconsider
this rule, and see the need to not apply it.
Yours very respectfully
Alfred McCorrie
