Comment Text:
i0-001
COMMENT
CL-03175
From:
Sent:
To:
Subject:
[email protected]
Saturday, January 23, 2010 8:53 AM
secretary
RIN 3038-AC61,
Dear Mr Stawick
The new proposal for 10-1 limit on Forex Trading, is outrageous,and not acceptable.
I have spent the last 14 months studying 8-10 hours a day (minimum) the Forex industry, I will take the decision
on the Leverage of my trades based on what and how I have learnt over that period of time.
There are those begginers who as a minority, who want to gamble using Forex as the way to lose their money,
these people may well have gone to a casino for the difference it really makes to them, the fact is you can learn to
understand how to trade forex, and the way leverage works, so you know how not to lose your money, those
people that choose not to learn, think it is easy money, They should not damage the reputation of the Forex
industry,
They should just gamble at any casino with their money ,that way when they lose their money they can complain
to the government about casinos,
It is not right that an industry with such vitality, be wiped out because of the few ignorant peope who are not
prepared to put serious efforts into learning this forex business,
All begginers are asked by brokers, to read and understand leverage and practice practice practice on their
Demo platforms to learn before trading live,
Clearly there will allways be reckless people who dont listen, dont learn ,then lose their money, and look for
someone or something to blame.
Learning how to trade Forex is like studying at University,and takes a long time ,12 months is nothing ,it is a
fascinating industry to study.
The result of learning the Forex industry is that you have learnt a new Business,
It is my exclusive right, to make decisions In my business about leverage size, or any other aspect of my
business, the same as any other business owner making a decision in their particular industry,, it is not the right
for you, or any other person or government to interfere with my life or livelyhood,
The fact is ,that I am part of a giant machine ,Forex, which gives employment to thousands of people around the
globe,
and providing we pay our taxes and the industry continues to develop integrity, it is an exciting business to be
in and use of leverage is fundimental and benificial.
You should not damage or destroy forex because of peoples ignorance about the use of Leverage,
Rather you should Increase the WARNINGS about Leverage to idiots looking for easy money,before they even
consider thinking about LIVE trading.
Kind Regrads
Damien S
