Comment Text:
i0-001
COMMENT
CL-05149
From:
Sent:
To:
Subject:
Vince
Monday, February 8, 2010 10:45 AM
secretary
New Proposal to CFTC Margin Requirements
Your Regulation of Off-Exchange Retail Foreign Exchange Transactions and Intermediaries,
would
greatly impact and even discourages beginners from developing and strengthening their trading style. It
effectively prevents investors from evaluating their own appetite for risk and making personal investing
decisions.
If your intention is to protect new investors from the risks, your intention is good but your manner is
unfair. It should be placed in ensuring the beginner Forex Retail trader has gotten some basic to
moderate trading education and paper trading experience before he ventures into the market.
This would allow the new retail trader to understand the market, evaluate the risks and rewards, develop
strategies to minimize the the risks, determine how to research and select a good Forex Brokerage and to
learn to trade responsibily.
Your proposal would effectively close the market to the new retail investor and once again only allow
the large financial institutions to access and benefit from this market.
Do not impose this proposal. Keep the market available to those responsible retail forex investors.
Thank you.
Vincent Gerretz
