Comment Text:
i0-001
COMMENT
CL-05633
From:
Sent:
To:
Subject:
Kyle Eidson
Sunday, February 28, 2010 8:31 PM
secretary
RE: RIN 3038-AC61 regulating the retail forex market
Here we go again with Big Brother sticking his nose in where it doesn't belong. I make my living by trading
currencies and because I have the leverage TO PROTECT MYSELF I do quite well. If the government changes the
leverage rules in retail fx I will be forced to move my trading accounts and my money out of the country, and every
trader I know is going to do the same.
Why can't you leave us alone and let us take care of ourselves. Regulate the brokers and punish them for for the
unlawful and unethical conduct some of them display. They get away with murder in this industry. Where in Gods
name did the idea that it should be ok for a broker to open his own trading desk and trade against his own
customers. My broker is MB Trading in Long Beach California, and I can't say enough as to what a class
organization they are. All brokers should be held to their standard by law, but instead we have to watch while the
government goes after the customer and makes it virtually impossible to make a living trading fx unless you have
deep pockets. I can't wait until it's time for the elections. There isn't one segment of government that the public
isn't fed up with, and when the time comes were are going to throw you collective sorry butts out on the street
where you will actually have to work and make your way in the world instead of sitting behind a government desk
trying to think up ways to screw everything up.
You think we out here in the real world don't know what the real agenda is? You think we really believe that CFTC
gives a rats ass about the retail trader? Get a clue. We know whats going on and when and if you go ahead with
this reduction in leverage bull, the next thing you hear will be the door closing behind us as we collectively take our
accounts and our money out of the country. I can only say mr. David Stawick, that if you can't find anything better
to do than take away my and all the traders like me right to make a living, then you and the CFTC are a pathetic
bunch. Our rights as americans are slowly and surely being taken away by narrow minded incompetent
bureaucrats who won't look at the big picture, don't give a damn about freedom and care only about there holier
than thou agenda.
Lastly, even though this last thought will fall on deaf uncaring ears I am still going to remind you that you are
serving as secretary of the CFTC in order to see to it that the commodities market carries on its business in a legal
and ethical manner. It is NOT for you to decide that the leverage rules are dangerous for forex traders. That is for
each trader to decide for HIMSELF. Not his mommy, his daddy, or you. If he gets into the situation that he loses
his money, thats HIS problem. Your job is to make sure that his broker and anyone else invloved didn't break some
law and cause him to lose his money. If he isn't smart enough to learn the business and protect himself then too
bad. It is not your job to protect some stupid idiot at the expense of the rest of us. We traders, as a whole, do not
want the leverage rules changed and it is incumbant on you to recognize that fact and act accordingly.
Wk Eidson
