Comment for Proposed Rule 75 FR 3281
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From:
James Glass
Organization(s):
Comment No:
2852
Date:
1/22/2010
Comment Text:
i0-001
COMMENT
CL-02852
From:
Sent:
To:
Subject:
[email protected]
Friday, January 22, 2010 4:29 PM
secretary
My Email In Opposition to Proposed Leverage Cuts
Dear Sirs,
Retail forex is a speculative market, and forex traders are very aware of this. It is not a retirement or saving
vehicle that requires extreme regulation. And while you may have good intentions in protecting traders by
reducing leverage to 10 to 1, the proposed trading restrictions will cause me, and probably many others, to
move our respective accounts offshore (thus leaving the protection and oversight of the NFA) where the present
leverage will remain available. If your mission is to protect traders, your proposals will not accomplish the desired
effect. The traders who trade this market are intelligent and aware of the risks. Your changes will not change
how they trade, but it will change the origin of those trades.
Thank you.
Sincerely,
James Glass
Houston, Texas
