Comment for Proposed Rule 75 FR 3281
Note:
If you experience an issue clicking on the "View Comments", the "Submit Comments", or any other buttons, please clear the cache in your browser and refresh the page. In Chrome or Edge, you may refresh the cache by holding down the ctrl key and clicking the F5 button.
-
-
From:
Jim Reed
Organization(s):
Comment No:
52284
Date:
9/29/2010
Comment Text:
As an individual investor, I have been trading futures and forex for over 10 years. Please correct the following restrictions placed on individual traders:
Hedging - individuals must be allowed to place a BUY, and then later a SELL in forex on the same pair as a form of stoploss. This protects the individual from further losses, and is not hedging as I am an individual NOT a business with a tangible product. PLEASE allow opposite positions at the same time on the same pair
Do not reduce any currency pair leverage below 50:1, as an individual I do not need protection from risk by the government, I know how to manage it myself and understand the difference between risk and leverage.
Remove the FIFO restriction in forex trading. The individual trader KNOWS what his position is, and profit and loss in his account, You have only made it riskier to trade because FIFO prevents stoploss orders on each position taken
Thank you,
James Reed
330-794-7000
