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Petition to repeal US 'Hedging'/FIFO Rule
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Petition to repeal US 'Hedging'/FIFO Rule

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Trading Apprentice
Paterson, NJ
 
Futures Experience: Intermediate
Platform: MetaTrader
Favorite Futures: ForEx
 
gpcode's Avatar
 
Posts: 2 since Oct 2014
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Petition to repeal US 'Hedging'/FIFO Rule

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? 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-

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 with link for petition- please copy and paste petition title above in YouTube search- your help will be greatly appreciated- Thanks!

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