Comment Text:
i0-001
COMMENT
CL-03511
From:
Sent:
To:
Cc:
Subject:
Darrall Myhro
Sunday, January 24, 2010 12:10 PM
secreta ry < secreta ry@ C FTC. g ov >
[email protected]; MattSharp
< M attsha rp@ fivetictrad i ng. co m >
Proposed regulation: "leverage in retail forex customer
accounts would be subject to a 10-to-1 limitation"
Hi,
I just heard about the proposed regulation concerning retail Forex trading where the leverage in
retail forex customer accounts would be subject to a 10-to-1 limitation.
I've already been taken out of day trading stocks with the latest change in regulation that
requires a minimum account balance of $25,000 for day traders.
Now it appears that I may be taken out of Forex trading as well.
I always thought that the "markets" were the last bastion of pure capitalism on the planet. If
brokers are wanting, willing and waiting for people to risk their hard earned dollars
in the "market" so they can make money whether or not the investor does, why must
interference occur? If a broker will leverage my account for my potential gain, why must
interference occur?
Investors do not need help protecting their money from potential loss, they are very well aware of
the risks involved in trading. This is why most people will not trade; the risk. We investors
welcome the risk because we are well aware that this very risk is where we have our potential
gain.
If we are to have a free market, do we need that market excluding those standing on the outside
looking in because they cannot cover the price of admission? How is that a free market?
Forex is not only the largest market in the world, but the only one where an average Joe can
afford to try his hand. Now why shouldn't the average Joe get a shot? Why must we alter the
markets
so that only the rich can keep playing? This does not sound like the USA our founding fathers
created, it sounds more like what our founding fathers fled.
Please let the Forex market remain a free market where it flows freely as it should, where the
average Joe can test the waters, where freedom reigns.
Thank you,
Darrall J. Myhro
