Video Response: CFTC Proposed FOREX Leverage Change

My name is Wayne McDonell. I am a retail forex trader and Chief Currency Coach of http://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.

Category:

Education

Tags:

• forex
• fx
• CFTC
• NFA
• Proposed Changes
• Leverage
• FXCM
• GFT
• IBFX
• FXsolutions
• gain capital
• forex.com
• fxbootcamp.com
• fx bootcamp
• wayne mcdonell

[ILuvTrading]

Where is my video response? I left it twice this past week. Everybody- click on my user name and see my RESPONSE to the CFTC Ruling!!!

[fxbootcamp]

I don't know. We certainly didn't block it.

[ezhilpa]

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[mahakuet]

Good day, Ill teach you how you could make tons of cash uploading youtube videos. Search for some royalty free music or sounds. Upload those to megaupload or something. Then join bee4biz (just Google it) and use them to lock your download link. Make lots of videos showcasing your free downloads and post protected download link in your video description. bee4biz pays when people complete a free survey to unlock your download link. They pay well and they pay weekly.

[Briannarose95]

@ILuvTrading that happened to me with a different video...I wonder why I can't see it.

[flyingdutchmanhero]

glad i´m living and trading in germany ;P

[RandomShellAccount]

Here's a case in point.

I was going to use the LeverageFX software once I practiced more on trading. Wanted to give myself a few months before I jump in. By nature I'm conservative with money and only intended to minimize loss and play the market by the book.

BUT NOW, I find that leverage is only 50:1????

So I was thinking open my first account with $2,000. Nope, I would make PENNIES per pip with a conservative 2% investment on trades.

Guess this game is only for those with 20 GRAND now.

[ARTaken007]

Wayne, would you do a video response about recent changes 10/18/10 the CFTC has made to the retail FOREX industry.

[drfrankm]

Great commentary and I agree. This is what I have been telling people too. This is one of the reason when I started my forex brokerage firm that I opened it offshore.

[amillioncars]

Will the earthquake affect the nzd as of 9/4/2010

[gizmobozz]

Here in Japan some brokers offer a 50 to 1 for small accounts. I've seen brokers offering 1 dollar per pip mini accounts too. $stop loss is the secret to stay in the game $

[StephenStoryIsAScam]

DAMN YOU WAYNE! YOU MONEY GENERATING SWIMMING IN LIQUID CASH BASTARD! SITTING IN YOUR BAT cave all day with 50 monitors getting filthy rich, teach us how to make some damn money!!!!! Dammit wayne!