Comment Text:
i0-001
COMMENT
CL-04922
From:
Sent:
To:
Subject:
Mark ...... < [email protected] >
Thursday, February 4, 2010 3:48 AM
secreta ry < secreta ry@ C FTC. g ov >
Regulation of Retail Forex
To whom it may concern at CFTC,
After reading of the proposed rule changes to substantially lower leverage ratios for foreign
currency traders, I think it's clear that you have good intentions and are attempting to help curtail
losses to those who trade on the foreign currency exchange in the United States. However, such
well intentioned regulations also equally serve to lessen people's ability to make money, those with
sufficient skill and talent to do so. And so it will do more to simply discourage those people from
further trading due to it being less lucrative for them to even bother with.
Less trading and investing on the currency and stock markets are not what's needed to help
stimulate the economy and one does not need an economics degree to determine that. You may
help some suffer less losses but you'll also equally degrade other people's ability to make money
on the market at the same time. Plus it will chase people away that have traded for years and also
dissuade newcomers to the markets all at the same time, doing more harm than good in the long
run. Those small time, non-institutional traders that trade on the retail markets need not be
"coddled" by a government nanny. And furthermore, this might make traders in the US more
heavily regulated than those in other participating countries. Why should we be more restricted
than they? Let people take responsibility for themselves, there is always risk ( but also potential
reward ) for anyone who invests or trades in any financial market. We need no heavy-handed
nanny, we are adults. All entities that allow people to trade currency sufficiently warn people of
possible loss, that is good enough in my mind.
Sincerely,
Mark M.
Utah
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