Comment Text:
i0-001
COMMENT
CL-07764
From:
Sent:
To:
Subject:
Gene Onweller
Tuesday, March 16, 2010 3:02 AM
secretary
Regulation of Retail Forex
RIN 3038-AC61
To Whom it May Concern:
I am STRONGLY OPPOSED to the de-leveraging of retail forex market.
I don't feel that is a neccessary step that will be useful to ANYONE involved in the retail forex market. It will hinder
the individual investor. It will hinder brokers' incomes. It will hinder the economy. It will hinder the business of
honest, legitimate money managers like myself.
I feel that this is a complete and utter outrage. This is because of the fact that high leverage can't teach you to use
proper risk control. Just as guns don't kill people, leverage doesn't kill account balances. It is, and always has been
the trader's responsibility to utilize proper risk control.
What this seems like to me is a classic case of a few rotten apples trying to spoil the great returns that the forex
market has produced for the experienced and conscientious traders for years.
I DO NOT WANT DE-LEVERAGING OF THE FOREX MARKET.
PLEASE SPEND YOUR TIME AND ENERGY TRYING TO BAR THE BERNIE MADOFFS OF THE WORLD, AND LEAVE US
HONEST PEOPLE ALONE!
Sincerely,
Gene Onweller
Bull Flag Asset Management LLC
