Comment Text:
i0-001
COMMENT
CL-03350
From:
Sent:
To:
Subject:
D.Alvarez
Saturday, January 23, 2010 5:00 PM
secretary
***** Regulation of Retail Forex **********
Dear Sir or Madame:
Please I would suggest and ask you... DO NOT IMPLEMENT THIS REGULATION. Here are some reasons why
this would negatively impact some one like me:
l.
I have been out of the regular corporate world (unemployed) for the past year and currently establishing my
own currency trading business. It is my only source of income using the little savings that I have; if you
increase the leverage requirements I may not be able to gain as much with the only working capital that I
have, thus, forcing me to either establish an account in another country or make use of my "Dual
citizenship" and move to another country all together.
2. I have spent time and education money preparing and training myself in order to responsibly use leverage
to my advantage; if you modify the "Retail Market" leverage currently required, you would, once again, be
giving more power to the big banks and institutions to gable up the little guy (very unfair - the government
always helping the bigger guy (making the rich richer) instead of keeping the field leveled for a more fare
competition.
3. As a government entity, you should promote access to the same "breaks" that big institutions have access
to by allowing the same leverage for every trader that wishes to participate.
4. If you are truly and genuinely concerned about protecting the public against predatory institutions, then,
why not make colleges and training schools offer "Financial and Self-Money-Management" or "Trading
Courses" (or the equivalent) in order to better prepare us to use what the industry has to offer.
5. The jobs lost in last couple of years are never coming back, we as a nation need to break the notion that it
is only thru "a job" the only way to make a living. Please DO NOT IMPOSE THE PROPOSED RETAIL
MARKET REGULATIONS upon us...they would put us (in the USA) at a big disadvantage with other
countries.
Respectfully,
Douglas Alvarez
