Comment Text:
i0-001
COMMENT
CL-00187
From:
Sent:
To:
Subject:
Shams Haason
Saturday, January 16, 2010 1:57 PM
secretary
Regulation of Retail Forex
Dear Secretary -
I and a few of my colleagues who have been trading forex for a while are about to launch
a forex trading training business online. We are based in New Jersey, and are
alarmed by this new proposed regulation that will limit leverage to 1:10 for
retail traders.
We have learnt from our experience, there is great opportunity to help fellow traders
and newbies alike to train them and provide them with the discipline
and risk management so they can earn a living wage through their
forex trading.
With this proposed new regulation of limiting leverage, we believe,
will kill this important avenue for many, many individuals, a lot of
them who are unemployed, but are learning to trade responsibly
thru training and thru hard work and study.
This regulation should it pass will kill our business about be launched
with American jobs that will not be created, and Americans out there
not be able to earn a living way via hard earned profits thru responsible
trading.
We see forex trading training and mentoring as an excellent opprtunity
for American business like us and many others, as well as
our American students who will go on to earn a good income
as they become better forex traders.
We urge you to reconsider and instead propose a realistic
regulation that will help traders become responsible, ie if
such a regulation can be designed to help, rather then
restrict their income.
Thank You,
Shams
732-766-5544
