Comment Text:
i0-001
COMMENT
CL-08287
From:
Sent:
To:
Subject:
gregory j ones
Wednesday, March 17, 2010 7:15 PM
secretary
Regulation of Retail Forex
Dear Mr Stawick,
I could give you many reasons for why the CFTC's intervention in the retail forex market and RIN
3038-AC61 is a bad idea, detrimental to many responsible traders as well as the United States, and even
irresponsible. However, I am sure you have heard many of them already, so I will give you an example
of a personal one.
After many, many years in software sales, I lost my job several years ago. At the same time, I lost my
wife to breast cancer and became an only parent to two teenage boys. However for several years prior to
that I had been learning to trade spot forex on my own. I read books, attended seminars, and was and
continue to be, taught by professional traders and fund managers on a daily basis. I have been able to
transition to a successful full time trader and support my family.
I understand leverage, and the risks involved. I fully understand how the market is structured, why the
currecny market exists in the first place, what moves the market and the roles of central banks and
interst rates, international fundamentals and who the major players happened to be. In short, I have
learned to be a professional, take this seriously and treat it as a business with the respect and dedication
it deserves. As well, I am under no illusions that this is a get rich quick endeavor. I plan to do this for
the rest of my life, and there are many like me.
If the CFTC goes ahead with these changes, it will hurt many responsible traders like me.
Thank you,
Gregory Jones
Boston, MA
