Comment Text:
i0-001
COMMENT
CL-04141
From:
Sent:
To:
Subject:
Travis Law
Tuesday, January 26, 2010 7:14 PM
secretary
'Regulation of Retail Forex'
Hello CFTC,
This is an email in response to the CFTC's proposed changes to the retail Forex trading industry. I
vehemently oppose this proposition and would like to voice my opinion about it. If the CFTC and the
NFA have the intent to protect the American trader, I believe the implementation of this proposal will
not have the desired effect and thereby these agencies will fail in their basic mission.
I understand people have been loosing money claiming they didn't know they could and that is
stupidity on their part and i don't want to be regulated based on other people not knowing how to
manage their money. Everywhere I look in the Forex industry states that Forex is extremely risky and
you should not risk capital you can not afford to loose. If this rule goes into effect, it may hold back
traders like myself who have developed the discipline to manage risk but am still saving my money
for starting capital. I have been working the last year and a half on demo accounts and micro accounts
to get myself to the point where I'm at now with my education and risk management ability and you
guys throw this at me! All i want to do is trade retail Forex and have been putting all my time and
energy into it. I'm upset that my life, my future, the only thing I see myself doing, is now in jeopardy.
Its not fair and ill stand against it. If it is passed, ill just going overseas and take my money to a land
where they still believe its free. After all this is America "the land of the free" right. Each Forex trader
should be able to make their own educated decisions about their money and take responsibility for their
own actions, right. Then why are you guys trying to make it not so by breaking apart this country? That
is exactly what you are doing, you are not trying to help us out one bit because if you were then you
would allow an option to choose rather we want the 100:1 vs the 10:1 not force us to 10:1.
This country is falling apart from the inside out and this is just more thing to speed up that process. Its
sad.
Travis Law
