Comment Text:
i0-001
COMMENT
CL-00699
From:
Sent:
To:
Subject:
fuj [email protected]
Tuesday, January 19, 2010 4:20 PM
secretary
CFTC Seeks Public Comment on Proposed Regulations Regarding Retail FOREX
Transactions
To whom it may concern:
As a Forex spot trader, I've been trading this Market for 2 year, I used to trade stock equity
Market, I switch to Spot Forex market, Because this Market has higher transparency then
stock Market and also there is not any inside trade manipulated, also with the 100:1 leverage
used to be 200:1. I found this market has provide me a tremendous opportunity to trade,
However with the high leverage of this Market it can be a double sword edge for any novice
trader, it can easy for them to lose Money. Let me ask you one serious question, tell me about
can you find me any investment that can define as a safe investment in the world if you don't
have a plan at the first place or you just thinking to have the get rich quick scheme, regardless,
you restrict the law to 1:1 leverage to think to protect those greedy herb crowd, at the end of
the day they still blow their account, then they start blame the Broker or the Market or the Law
regulators so on and so forth, they will never ever point the finger to themselves, if you are not
thinking the Market as a whole which I would think you are well awareness, and just thinking to
protect the greedy herb crowd, why don't you put in more education relate subject to sharp
their trading skill. As I understand trading is a journey of learning and self discovery, if you are
not well educated and well awareness of every market movement, and have no plan at the 1st
place, regardless, at the end of the day you still got crush from the Market. unfortunately its
very sad to see you are going to propose a new regulation. Hope you can consider your
Proposal again. Thank You.
Best regard,
Minh Hua,
Forex spot retail trader
