Comment Text:
i0-001
COMMENT
CL-06419
From:
Sent:
To:
Cc:
Subject:
Bruce Labonte
Saturday, March 6, 2010 6:38 PM
secretary
secretary
Regulation of Retail Forex
David, I am a retail trader of forex currencies, leveraging ones money is and always has been the smartest way
to earn finantial freedom. The greater the leverage the greater the ratio from risk to reward. The success of a
retail
trader is not dependent on the amount of leverage applied to a position, inasmuch the research, technical
annalysis and fundamentals that are acknowledged prior to taking a position at any given ratio of leverage.
Freedom is to choose. Traders already have the choise to trade at lower ratios
of leverage from their accounts. To restrict the entire retail trading market is like restricting free enterprise to the
general public It doesn't make any sense and won't protect any traders that
won't apply the proper time and effort to
successfully trade forex. My opinion is
this. All new retail traders opening new
first time tradind accounts should be required to take a trading aptitude test and pass it in order to trade forex or
futures and options. This test could be
developed by the cftc and a cross section of brokerage technical annalysist and specialist. Finally this test would
educate the new traders to
the potential for preceived risk and reward. The exam would serve as a industry certification that is endorsed
by the cftc and the sec.
technical speciali
