Comment Text:
i0-001
COMMENT
CL-05421
From:
Sent:
To:
Subject:
[email protected] on behalf of
Triffany Hammond
Wednesday, February 17, 2010 11:13 AM
secretary
Regulation for Retail Forex
Dear Mr. Stawick,
It is very clear to me that deregulation and loosened leverage requirements have led, over time, to the
irresponsible behavior of corporations and banks that have been the driving force behind the economic
collapse.
While it does makes sense to evaluate instituting regulation and leverage limitations I fear that by doing
so in the proposed manner, with a blanket leverage limitation to 10:1, the government removes one of
the few ways left for the individual trader to reap the benefits for income growth that has only been
available to large fund traders so far.
The retail trader relies, heavily, on the ability to control large amounts of money with small accounts in
order to make profits enough to grow the account.
With the onslaught of job losses and decline in average income, more and more people are turning to
alternative ways to make money. Trading is one of those ways and with proper guidance and support
for their learning curve people who have developed a system and learned to trade it well should be
rewarded by the opportunity to make the most profit possible.
I encourage you to reconsider this blanket application of the leverage limitation and take into account
Joe Public and how limiting this is to his ability to seek alternate means during such dramatic job
losses.
Restrictions like this are brilliant moves that work the US toward long-term recovery and stability. But
they're going
to feel
like one more rej ection of the middle class's attempt at wealth creation. Further
rejection of the middle class will lead to more support for the types of"government needs to get out of
our pockets" mindset that makes them vote for deregulation in the first place.
Please reconsider.i0-001
COMMENT
CL-05421
Be good to you!
Triffany Hammond
Forex Trader and Teacher
The risk of loss in trading securities, options, futures and forex can be substantial. Customers must
consider all relevant risk factors, including their own personal financial situation, and ability to handle
risk before trading. Forex, including Forex Options, involves risk and are not suitable for all investors.
Trading foreign exchange on margin carries a high level of risk, as well as its own unique risk factors.
Please read the following risk disclosure before considering the trading of this product: Forex Risk
Disclosure
The risk of loss in trading securities, options, futures and forex can be substantial. Customers must
consider all relevant risk factors, including their own personal financial situation, and ability to handle
risk before trading. Forex, including Forex Options, involves risk and are not suitable for all investors.
Trading foreign exchange on margin carries a high level of risk, as well as its own unique risk factors.
Please read the following risk disclosure before considering the trading of this product: Forex Risk
Disclosure
