Comment for Proposed Rule 75 FR 3281
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From:
Rodney Smith
Organization(s):
Comment No:
438
Date:
1/19/2010
Comment Text:
i0-001
COMMENT
CL-00438
From:
Sent:
To:
Subject:
Rodney Smith
Tuesday, January 19, 2010
10:08 AM
secretary
Regulation of Retail Forex
Mr Secretary,
I am relatively new to the spot forex market and as such my knowledge is certainly limited compared to someone such as
yourself so I wont pretend to know more than you. However, I recently received notification of this proposed 10:1 leverage
regulation and thought I would shoot you a quick email. My first impression or question is 'why?' do we need this regulation?
Perhaps you could tell me the purpose for this regulation.
Is it's purpose to protect the invester/trader from having too much leverage working against them? If that is the case I would
ask the government to not impose this regulation. Risk is an inherent component of any type of trading and as such the
investor is responsible for their own protection by having a trading plan. Placing a regulation would not 'protect' people it would
only limit who can trade. Trading (as most things in life) has a risk that no amount of regulation could ever eliminate; instead it
only makes it that much more difficult to work around as the trader is more limited in their "think outside of the box"
possibilities.
Thank you for your time,
Rodney
Identification number RIN 3038-AC61 in the body of the message.
