Comment Text:
i0-001
COMMENT
CL-00847
From:
Sent:
To:
Subject:
Covenant Group
Tuesday, January 19, 2010 9:22 PM
secretary
Regulation of Retail Forex RIN 3038-AC61
Dear Secretary,
I trade the Forex markets and have traded them for several years. One of the reasons I love to
trade Forex is the increased leverage the Forex markets provide. Individual traders should have the
right to decide for themselves how much risk they want to assume. THERE IS ALREADY AN EXCESS
OF REGULATIONS NOW. The CFTC already has sufficient regulations in place...why don't you go
ahead and enforce them against the major shorts in the COMEX Gold and Silver Futures markets?
I think it would be a major error to lower the Maximum Leverage in the Forex markets. I believe
that all traders should have the right to choose the amount of leverage that is appropriate for
his/her risk appetite, and that this basic principle of 'choice' is being threatened by the proposed
CFTC regulations. I refer specifically to identification number RIN 3038-AC61.
PLEASE
DO NOT LOWER THE MAXIMUM LEVERAGE AND MARGIN REQUIREMENTS.
You will kill the goose that continues to lay the golden egg.
Stay out of more regulations in the Forex markets! First, show the trading community that you are
willing to enforce your existing regulations in the COMEX gold and silver markets and then maybe
you'll have some credibility...until then, leave the Forex markets alone.
With kind regards,
H Travis Putney
512.632.5184
[email protected]
