Comment Text:
i0-001
COMMENT
CL-00892
From:
Sent:
To:
Subject:
Ray Pratt
Wednesday, January 20, 2010 12:46 AM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex (RIN 3038-AC61)
Dear Mr. Stawick,
For small investors like myself the regulation of retail forex (RIN 3038-AC61) will terminate me as
an investor partly or entirely. RIN 3038-AC61 is a rule proposal not law yet but if it become law, the
leverage will go from 100:1 or better DOWN to 10:1.
This means you would now need $1000 to trade one mini
lot or $10,000 to trade one standard lot.
I am not opposed to regulation nor regulatory agencies. But that regulation/s needs to be fair, transparent,
and
open to public input, will
there be
any? Otherwise it becomes corrupt and self-serving. Sure high
leverage can get you into trouble if used it thoughtlessly. Sure hedging when not done properly turns one loss
into two. But I believe the cure is EDUCATION, not restricting what people can and cannot do with their
investment decisions. Guide, don't dominate - government was created to protect people and their property, not
to limit their potential." I strongly disagree with the CFTC proposal RIN 3038-AC61 (regulation of retail forex) now
and in the future.
Mr. Raymond E. Pratt President
Pratt's Consultant services,Inc.
htt p ://www.techexpo. co m/fi rms/pratcom p. html
http ://newmoney.tv
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