Comment for Proposed Rule 75 FR 3281
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From:
Bob Gordon
Organization(s):
Comment No:
2548
Date:
1/22/2010
Comment Text:
io-ooi
COMMENT
CL-02548
From:
Sent:
To:
Subject:
[email protected]
Friday, January 22, 2010 9:28 AM
secretary
Regulation of Retail Forex
[]To the CFTC: []Re: RIN 3038-AC61.
I have traded the forex market for about 10 years and feel these regulations are to the point of being grossly unfair to traders
in the USA. The forex is not a USA based market, it is worldwide, unlike the other USA based markets. [] To implement
these rules puts us at a competitive disadvantage with the rest of the world. It is like targeting one gas station in a city and
changing the rules for it (say adding a limit on the number of gallons to 5 per day) and letting the rest operate freely, Would
you use this station?... []Not likely!!
This market uses risk to gain rewards. I have to say that limiting the leverage to 100:1 was reasonable, after all who can
manage 500: l and what trader needs that? But this rule will be the straw that breaks the camel's back for the forex market for
traders like myself.
Let us trade with the reasonable 100:1 ratio.
Sincerely, Bob Gordon
