Comment Text:
i0-001
COMMENT
CL-08028
From:
Sent:
To:
Subject:
Mike Parker
Tuesday, March 16, 2010 6:53 PM
secretary
"Regulation of Retail Forex" --- ID number RIN 3038-AC61
This is getting absolutely unbelieveable --- you have obviously targeted the Forex marketplace with
some of the most inane junk imaginable and you're applying the rules to ONLY forex !
as a 6 year trader, it wasnt a stretch to sort out good vs. bad brokers, liquidity providers or chinese
restaurants, but you people are out to save us from ourselves and we NEVER asked for it --- what with
prohibiting "hedging" (something NO broker ever advised ANY client to do which drove us all overseas
and included the opening of foreign branches by your USA brokers, lowering margin down to where no
one but the "pro" shops can make money, removing "mom and pop" investment clubs and now THIS.
maybe the government wants you to do SOMETHING because of what shape the economy is in, but NO
ONE of the "little folk" had a thing to do with it --- it was banks and your own poorly regulated
COMMODITY MARKETS that caused most of the damage, so STOP PUNISHING the people who did
nothing but trade a mini or full lot here and there !
Its rather obvious that we will all end up in europe, just as was done when margin was increased to
$25,000 a few years back --- started trading in Germany so we could short the pennies and be rid of your
margin requirements.
WELL, its just gonna happen all over again, and already has .... do you have ANY figures on how
many forex traders are overseas now, costing American jobs right at a time when the opposite is
required.
ENOUGH already --- go and regulate what NEEDS to be regulated if you're looking for work to do and
keep your hands, which will mess EVERYTHING up, out of forex trading.
Remember please, most getting into forex are coming from trading OTHER instruments and are NOT
"pie in the sky" investing newbs --- they already have LEARNED how to trade and what to do and your
regulations serve as nothing more than another government hindrance and NOT as any help.
You want to HELP --- then find something real and of real HELP and not the silliness you seem to come
up with every few days --- whoever is in charge of finding these "solutions" should be cashiered out,
given his/her most likely LARGE pension. Let us know where you send them so we can tar and
feather them, as they rightly deserve !
RELAX PEOPLES --- dont keep messing with that which is working
michael parker
happy trader and decent teacher
