Comment Text:
i0-001
COMMENT
CL-07491
From:
Sent:
To:
Cc:
Subject:
Ryan A. Zoerner
Sunday, March 14, 2010 3:12 PM
secretary
[email protected]
'Regulation of Retail Forex' ID number RIN 3038-AC61
Dear CFTC,
This is written in regards to the proposed leverage reduction in forex trading.
First, it seems to me that business men and women in the United States ought to have the right to get
what they settle for, at whatever rate of leverage at which the interested parties are willing to do the deal.
Second, it seems to me that you are seeking to make it mathematically impossible to become
meaningfully wealthy, quickly, through trading forex. It seems that you are doing this in the name of
preventing people from being defrauded. However, preventing markets from working efficiently does
not help prevent fraud, it simply prevents markets from working efficiently in order to 'create a safe
environment for our children' within the market place.
Please reconsider this proposed change because what you are doing is seeking to please the ear of those
who are listening to the market dialog, you are not helping market investors, particularly small investors.
You are mostly benefitting the very rich who can afford to do business on their terms in a country of
their choosing. You are also not benefitting the forex industry or those who do business as brokers.
Enacting this proposal will make happy, those who are envious of large "Wall Street" bonuses.
As an adult, if you are not willing to live with the consequences of your decisions, then you should not
make those decisions. It is possible to employ reasonable methods and strategies, which are consistently
profitable, even at, say, 500-to-1 rates of leverage, and even if that may sound outlandish to the parties
considering this email.
We all get what we settle for-- and if you aren't willing to accept the consequences of the deal, you
shouldn't write the order in the first place.
Leverage is a terrible place to try and address fraud; accounting is not allowed to be fraudulent. The
amount of leverage involved in any business deal ought to be up to the parties directly conducting that
business. Some may choose to directly conduct their business elsewhere, but not all of us have that
luxury (yet).
Thank you,
Sincerely,
Ryan A. Zoerner
