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Petition to repeal NFA Rule 2-43(b) for FIFO/Offsetting Transactions for ForEx trading

Discussion in 'Forex Articles' started by gpcode, Sep 30, 2014.

  1. gpcode

    gpcode Recruit

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    Dear friends,

    I wanted to let you know about a new petition I created on We the People, a new feature on WhiteHouse.gov, and ask for your support. Will you add your name to mine? If this petition gets 100,000 signatures by October 19, 2014, the White House will review it and respond-

    You can view and sign the petition here:

    http://wh.gov/ilWF8

    Here's some more information about this petition:

    Petition to repeal NFA Compliance Rule 2-43(b) for FIFO / Offsetting Transactions for ForEx trading

    I wish to express opposition to NFA Compliance Rule 2-43(b) concerning Offsetting and FIFO (First In-First Out) Transactions and call for the repeal of this section as it pertains to retail-level ForEx trading for US residents and brokerages. This rule has since prohibited the freedom to utilize beneficial trading resources such as offsetting (commonly referred to as 'hedging'), as well as the freedom to close each trade, choose take profit, stop loss and trailing stop values for each order without the interference currently caused by the FIFO aspect of the rule. I did not ask for these restrictions and firmly disagree that those freedoms now prohibited 'were of no benefit to the trader'. I believe that restoring these freedoms will help ForEx clients manage trades more successfully.

    short video at YouTube.. http://youtube/GIXeoA53jmE
     
  2. gpcode

    gpcode Recruit

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    Just to clarify, only 150 signatures are required for the petition to remain available at the WhiteHouse.gov site and will also be submitted to the NFA once a sizable number is reached- If this petition gets 100,000 signatures by October 19, 2014, the White House will review it and respond-
     
  3. fxstrategist

    fxstrategist Corporal

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    NFA Rule

    I think regulations are going to get even tougher, who knows if they will repeal this rule.
     
  4. DavidC1

    DavidC1 Private, 1st Class

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    Did it ever get enough signatures?
     
  5. fxstrategist

    fxstrategist Corporal

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    How is it going? Any updates?
     

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