Comment Text:
i0-001
COMMENT
CL-08360
From:
Sent:
To:
Cc:
Subject:
[email protected]
Wednesday, March 17, 2010 10:27 PM
secretary < [email protected]>
[email protected]
Regulation of Retail Forex
Good Evening:
I just wanted to express my feelings regarding the proposal to limit leverage
on Forex transactions to 10:1 from the existing 100:1 policy.
I believe that this would be quite harmful to the many traders who have
devoted years of study and trading with the intent of creating a new career or
supplemental income in their retirement years.
Having been around many of these folks over the past 4 years, I can attest to
their sincerity in their pursuit of the knowledge necessary to succeed in
trading Forex. Are they all successful? Absolutely not! However, the one
overriding factor that stands out, is that through the years I have not run
across more than a small percentage that were what might be described as
"Riverboat Gamblers." Mostly, they are very well grounded and just trying to
learn the trading skills.
Some of the people I deal with have already begun moving their accounts
overseas so they will not be "shut out" of their dream of independence. The
only practice I've noticed in the industry, that I feel is a detriment to the
retail trader, is what they call "stop hunting" being practiced by some of the
brokerages. If you could police this item it would be a big help to the public
and they would applaud your effort.
In closing my comments on RIN 3038-AC61, I would just like to ask that you
leave the leverage limits as they exist today. It would be appreciated by a
huge amount of just regular folks who are not trying to get rich quick, but just
trying to be self-sufficient.
Thank you for listening to my comments.i0-001
COMMENT
CL-08360
Mike Wietor, Senior Broker
CRS CRB e-PRO
Country Squire, Inc., 10400 Griffin Road #303B, Davie, FL 33328
800-887-4867 954-434-4444
e-Mail:[email protected]
http://www.LauderdaleHomesAndLand.com
Four-time President of the 3,000 Member
South Broward Board of Realtors
Life is a series of choices ......
choose well.
