Dear Sirs,
I have been investing in leveraged securities since 1979 and have never had a margin call. For 20 years, I traded commodities on the Chicago Futures Exchange and held a full-time job as a construction Teamster. I counsel people to not do that. I just wish to make the point that I know how to safely handle leverage, and don't need a hand-holder. I do my own research, having taught myself how to do my own daily charts.
I now use leveraged and inverse funds through TD Ameritrade on my own. These are the only vehicles to trade on the downside, as well as bull trades. They allow seasoned traders to maneuver without a commodities account.
If onerous restrictions are going to be implemented on the stock trading platforms, then I will be forced back to the CME.
Everything has a learning curve, and people should be educated about it. Regulators need to put their efforts into clearing the stock trades every day instead of the two- or three- day rules, since this is a digital world. I much prefer the clearing rules at the CME, much simpler.
Please make it more streamlined for traders, instead of dumbing the trading platforms down. The only way for traders to learn is to just do it and find out for themselves if they can take the heat. Any investment is for grownups.
Robert Bailey Comment On Regulatory Notice 22-08
Dear Sirs,
I have been investing in leveraged securities since 1979 and have never had a margin call. For 20 years, I traded commodities on the Chicago Futures Exchange and held a full-time job as a construction Teamster. I counsel people to not do that. I just wish to make the point that I know how to safely handle leverage, and don't need a hand-holder. I do my own research, having taught myself how to do my own daily charts.
I now use leveraged and inverse funds through TD Ameritrade on my own. These are the only vehicles to trade on the downside, as well as bull trades. They allow seasoned traders to maneuver without a commodities account.
If onerous restrictions are going to be implemented on the stock trading platforms, then I will be forced back to the CME.
Everything has a learning curve, and people should be educated about it. Regulators need to put their efforts into clearing the stock trades every day instead of the two- or three- day rules, since this is a digital world. I much prefer the clearing rules at the CME, much simpler.
Please make it more streamlined for traders, instead of dumbing the trading platforms down. The only way for traders to learn is to just do it and find out for themselves if they can take the heat. Any investment is for grownups.