Comment Text:
i0-001
COMMENT
CL-04719
From:
Sent:
To:
Subject:
Patrick Fitzgerald
Monday, February 1, 2010 11:26 AM
secretary
Retail Fx regulation
I am writing to let you know how disgusted I am with the new rules dropping leverage from 400:1 to
100:1 to 10:1.
I have enjoyed the leverage because I was able to keep my risk down. I didn't need to have a large
account to trade. When My account grew substantially, I would take my profits and move it elsewhere.
That way, if I ever had a bad day and blew out my account, I could pull from my reserves and start
over. With out a manageable leverage I would never have been able to start trading on my own and
would probably still be deep in debt.
Regulating any market is anti-capitalism and helps no one in the long run.
h
is better for failures to
learn the hard way sooner rather than later. A really free market can sort out the bad from the good on
it's own. Regulation denies market cycles and only makes a market's inevitable downswing worse in the
long run.
Markets work best when you leave it alone
