Comment Text:
i0-001
COMMENT
CL-03306
From:
Sent:
To:
Subject:
Jared Dunsdon
Saturday, January 23, 2010 2:44 PM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
I recently heard about a proposed regulation on Forex brokers that will only allow a maximum of
10:1 margin. I want to assert to you that Iam vehemently opposed to this new regulation, and I
hope that you will do all in you power to make sure this does not happen. I believe that this new
regulation is intended to protect traders such as myself from incurring large losses. I myself lost
60kin the Forex markets in less than a years time. This loss was extremely large for myself and
very hard financially. But, it happened because Iwas careless and Idid not fully understand the
market before I played with too much of my own money. I wish I hadn't lost all that money, but it
was nobody's fault but my own, and I want the freedom to make my own decisions without the
government trying to regulate everything Ido. Another negative result to this proposed
regulations will be business failure and job losses. I believe that if these changes are made, it will
cause a lot of Forex traders to take their money outside of the US where they will be able to trade
with whatever leverage they choose. I myself will be one of those, Idon't like being told what I
can and can't do. If enough people move their accounts, that will result in some brokerages being
forced to close and jobs will be lost. I don't think this will bea positive result in our current
economy where job losses are already out of control.
Thank you,
Jared Dunsdon
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