Comment Text:
i0-001
COMMENT
CL-04548
From:
Sent:
To:
Subject:
Man Yeung
Saturday, January 30, 2010 2:59 AM
secretary
Regulation of Retail Forex, CFTC
RIN 3038-AC61
To whom it may concern:
I believe deleveraging of the Retail Forex will be counterproductive and futile.
First, if the trader doesn't know how to mange his own account or risk, no matter how low the leverage
is, he will still lose all his money.
Second, it will bar the poor people like me from making a little fortune from the currency market
and keep the big fishs, like banks and hedge funds, having complete control of the market. It will not
help with the control of the currency market's fluctuation neither.
Finally, it will have a spill over effect and force people to open accounts over sea. This will put
the New York currency market and US Retail Forex in a disadvantage position.
Please reconsider your policy. I believe policies should benefit all groups of people and not restricted
any individual group. It should also benefit the long term growth of the economy and not just
concentrating on short term fire. Any measures that are over protective or restrictive, I believe it will
lead to counterproductive results.
Thank you!
Best Regard,
Albert
