Comment Text:
i0-001
COMMENT
CL-05434
From:
Sent:
To:
Subject:
Jay Holmes
Wednesday, February 17, 2010 9:29 PM
secretary
Regulation of Retail Forex
Re: RIN 3038-AC61
Dear Secretary Gary Gensler -
It has been reported to me that you are considering reducing the FOREX trading margin ratios so as to reduce the
size of the potential gains per trade. This is just a devious method to stop the flow of commodity traders from
moving to FOREX, a superior more honest game than futures. I happily switched long ago.
The FOREX market does not impact the retail consumer the way speculators and brokers in the commodity
markets impact the retail consumer. Businesses need the commodity futures markets to hedge their finances,
only banks and similar institutions need the FOREX market.
Any FOREX trader can reduce his risk by choosing a lower safer ratio any time he wants, he doesn't need to be
forced to lower it by government decree (I never used the 400:1 as it was too high, 200:1 is just right for me).
Fix the real problems with the Commodity Market and leave the FOREX ratios alone.
Respectfully,
Jay Holmes
