I'm confused about CFTC
Isn't this the same regulatory agency that unilaterally determined American consumer traders didn't have enough intelligence to take advantage of 100 to 1 leverage and thus imposed a regulation that restricted our leverage here in the states to 50 to 1? Isn't the CFTC a government regulatory agency somewhat like the NFA, which also imposed a regulation that eliminated the right of American consumer traders to hedge in forex based on the argument that "citizens needed to be protected from the practice of hedging because it doesn't work"? Seriously. Despite the fact that hedging has been around in trading since the dawn of goods being traded, they determined that American consumer traders needed to be "protected" by limiting our choices in how we trade OUR OWN MONEY!!!!! Yet again, now, they file lawsuits against forex brokers who may or may not be totally legit. I don't know. I do my OWN HOMEWORK before opening an account, and that's part of being an adult. A member of a free society. An individual who makes the FREE choice to trade his or her money when and WHERE I choose. And in America, that should be WHEREVER I choose. This all comes back to President Obama who insists on unilaterally pushing the regulatory agencies that the executive branch of the U.S. government oversees to OVER regulate consumer options and choices. 50 to 1 leverage cause I'm too stupid to manage an account with 100 to 1 leverage? Please. No more capability to hedge because I'm too stupid to manage a hedged position and come out with a net profit? Please. So many novice consumers who get into forex and lose cause they are stupid, fall for over aggressive solicitations, or just lose their money out of incompetence complain and whine to the Federal government that a soft touch, liberal socialist like Barack Obama pushes his government agencies to OVER regulate what was otherwise a FINE and FREE industry. I'm sick of the regulations. The system WAS working. It was working fine. Yes, there are a huge number of scam artists out there, including One Corp FX where I personally lost money almost immediately after opening a new account there. (Fortunately, just a small amount of money.) Hey. That was a risk I took based on a friend's recommendation. Is that stupid on my part? Yes. Did I lose some money? Yes. But, I was on a search for another broker who still allowed me access to 100 to 1 leverage. I'm sick of the over regulation. I trade at my own risk. I understand the risks. I can afford to lose the money I trade. I HATE to lose money, but I'm not AFRAID to lose money. If you're afraid, then you shouldn't trade. If you're too stupid to evaluate a broker, as I was in the rush to get into One Corp FX, then you deserve to lose your money. Forex is for survivors. I don't know anyone in forex who has consistently won money day after day, month after month. We are up, and we are down. That's the deal. Sometimes you beat the system, and sometimes you fall victim to a scam EA or some other unethical broker. But man, PLEASE join with me and demand that the GOVERNMENT get out of my business. I'm sick and tired of Obama's regulatory agencies telling me what I can and cannot do in forex. The next thing I expect is that they will tell me I can no longer short the USD because I'm an American citizen. I am seriously expecting some kind of stupid CFTC or NFA regulation of that type the way things are going. This is becoming less of a free market and more of a game you have to play within daily new rules established by the socialists now in the White House.
Isn't this the same regulatory agency that unilaterally determined American consumer traders didn't have enough intelligence to take advantage of 100 to 1 leverage and thus imposed a regulation that restricted our leverage here in the states to 50 to 1? Isn't the CFTC a government regulatory agency somewhat like the NFA, which also imposed a regulation that eliminated the right of American consumer traders to hedge in forex based on the argument that "citizens needed to be protected from the practice of hedging because it doesn't work"? Seriously. Despite the fact that hedging has been around in trading since the dawn of goods being traded, they determined that American consumer traders needed to be "protected" by limiting our choices in how we trade OUR OWN MONEY!!!!! Yet again, now, they file lawsuits against forex brokers who may or may not be totally legit. I don't know. I do my OWN HOMEWORK before opening an account, and that's part of being an adult. A member of a free society. An individual who makes the FREE choice to trade his or her money when and WHERE I choose. And in America, that should be WHEREVER I choose. This all comes back to President Obama who insists on unilaterally pushing the regulatory agencies that the executive branch of the U.S. government oversees to OVER regulate consumer options and choices. 50 to 1 leverage cause I'm too stupid to manage an account with 100 to 1 leverage? Please. No more capability to hedge because I'm too stupid to manage a hedged position and come out with a net profit? Please. So many novice consumers who get into forex and lose cause they are stupid, fall for over aggressive solicitations, or just lose their money out of incompetence complain and whine to the Federal government that a soft touch, liberal socialist like Barack Obama pushes his government agencies to OVER regulate what was otherwise a FINE and FREE industry. I'm sick of the regulations. The system WAS working. It was working fine. Yes, there are a huge number of scam artists out there, including One Corp FX where I personally lost money almost immediately after opening a new account there. (Fortunately, just a small amount of money.) Hey. That was a risk I took based on a friend's recommendation. Is that stupid on my part? Yes. Did I lose some money? Yes. But, I was on a search for another broker who still allowed me access to 100 to 1 leverage. I'm sick of the over regulation. I trade at my own risk. I understand the risks. I can afford to lose the money I trade. I HATE to lose money, but I'm not AFRAID to lose money. If you're afraid, then you shouldn't trade. If you're too stupid to evaluate a broker, as I was in the rush to get into One Corp FX, then you deserve to lose your money. Forex is for survivors. I don't know anyone in forex who has consistently won money day after day, month after month. We are up, and we are down. That's the deal. Sometimes you beat the system, and sometimes you fall victim to a scam EA or some other unethical broker. But man, PLEASE join with me and demand that the GOVERNMENT get out of my business. I'm sick and tired of Obama's regulatory agencies telling me what I can and cannot do in forex. The next thing I expect is that they will tell me I can no longer short the USD because I'm an American citizen. I am seriously expecting some kind of stupid CFTC or NFA regulation of that type the way things are going. This is becoming less of a free market and more of a game you have to play within daily new rules established by the socialists now in the White House.