Tuesday, April 7th, 2015

Video Response: CFTC Proposed FOREX Leverage Change


My name is Wayne McDonell. I am a retail forex trader and Chief Currency Coach of www.fxbootcamp.com This video is in reponse to the CFTC’s proposed changes to the retail forex trading industry. If passed, leverage will be reduced to 10-to-1. If the CFTC and the NFA have the intent to protect the American trader, I believe the implementation of this proposal will not have the desired effect and thereby these angencies will fail in their basic mission. This video offers two key points on why leverage should be left as is. Please leave a comment and share this video with other forex traders. Also, you may also want to share your opinion with the CFTC while they are in the “public comment” part of decision making process. They are your agencies that govern or over see your industry. They welcome your opinion and are looking out for you best interest. Send emamils to secretary@cftc.gov You MUST INCLUDE ‘Regulation of Retail Forex’ in the subject of the email and reference RIN 3038-AC61 in the body of the message.

View full post on Currency Trading Strategy

Related Sites

Comments

11 Responses to “Video Response: CFTC Proposed FOREX Leverage Change”
  1. ILuvTrading says:

    Guys, under the proposal the CFTC states on page 11

    “Under current practices, customer
    positions are usually closed out once
    the losses in an account exceed the
    initial investment. However, if, for any
    reason, the positions are not closed out
    at a zero balance, the customer could be
    liable for additional losses. “

  2. mattisthegame08 says:

    I suppose that if this is approved and EE.UU block the retailers us to have accounts abroad, will move Germany as I were born and she grew up there anyway, and this country has become regulated form and controlled by the fear and I only go to his get worse with time. president hell of Russia has demonstrated the world-wide currency already, so who knows which is the next one for all we.

  3. automatedtrading9000 says:

    That has to be like a one in ten million or less likely, or never? Do talk of that happening to anyone, I never pas? to m? and have done thousands of transactions.

  4. automatedtrading9000 says:

    If this passes it means that our rule makers are literally the lamest people on the entire planet, end of sentence.

  5. mattisthegame08 says:

    Im praying this does not pass, as its gonna do alot of harm to people that make livings on trading in the U. S, i do this part time, but as a student with limited capital i dont have the 100,000 dollar account to trade with on 10:1 leverage thats why its nice to make steady incomes with a 5,000 dollar account, i can see getting rid of 400:1 and 200:1 leverage which they did, but 10:1 is overkill, and the brokers allow us choices anyways on our leverage so idk what CFTC is thinking, Dumbasses

  6. automatedtrading9000 says:

    Exactly, Obama says he’s trying to get people working and at the same time he’s taking away jobs from traders currently employed. This is NOT THE AMERICAN WAY, PUTTING PEOPLE OUT OF THEIR OCCUPATIONS. HELLO SOMEONE IN CHARGE STOP THIS NONSENSE.

  7. mattisthegame08 says:

    Yes it’s getting to be BS. I have no problem leaving the US and going back to Europe if more stupid laws and regulations pass. All I can do Now is hope CFTC does not pass the leverage proposal the others I agree with but the leverage change is going to take away more jobs as some traders don’t have the capital for 10:1. This just pisses me off

  8. edmondublianda says:

    I hope the CFTC can sympathize to all retail fx traders who make money at home or while travelling. . it is a great life to be self employed and I believe it’s good for the economy of US

  9. automatedtrading9000 says:

    I have never or “do talk about that happening to anyone, and I have been trading for m? S of 3 years and have done thousands of transactions, I am sure that any broker made this mistake I’m sure that just taking the p? loss themselves and not the client, you est? talking about less than one in ten million shares, b? basically nonexistent chances.

  10. automatedtrading9000 says:

    Forex is not really “dangerous” as est? N doing to be to p? Public. The i sometimes lose money with m? Maximum from 100 to 1 leverage, you have? To do m? S of 200 M WITH DIFFERENT TRADES? XIMO 100 to 1 leverage that people are well aware RISKS AND NOT LOSE MONEY YOUR IN a few trades, NOT AS? WORKS. Est YOU MONEY? locked (protected) in your position? No leverage. if it is against YOU HAVE TO MAKE MONEY REMAINING other trades. Any other pa? S permits.

Trackbacks

Check out what others are saying about this post...
  1. [...] Video Response: CFTC Proposed FOREX Tools Change « New Stock Market Rally Examined Choice Trading Plans? » [...]



Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!

*