Hello, I am a retail investor. I am one of many individual investors who lives month to month. I am a 100% disabled veteran and Ive been invested since the moment I got my disability. I mostly trade inverse and leveraged ETFs and ETNs. Since I began trading in 2020, I have made almost 300% returns. I am a traditional buy and hold investor. I know these investment vehicles are supposed to be in and out plays, but Im up over 1000% on one of my holdings, and up 300% on two others. This justifies less than 1/5 of my portfolio, and without my strategy, I dont believe I would continue to build on this success. I have done hours of research, scrolled through ETF after ETF, trying to figure out where my investment strategy may lie. Now, FINRA seeks to implement new controls over a portion of the market where I am making my success. The new controls would box me out because I am not a pattern day trader, have a high portfolio value, or my broker doesnt clear me. Sounds an awful lot like a pit boss at a casino who is tired of seeing his tables lose. I am opposed to this proposed rule. I would prefer instead that the SEC pursue charges against the big banks, the hedge funds, the overpaid CEOs, the corrupt politicians who insider trade, the regulators themselves who are complicit in almost every scheme but never admit wrongdoing. This, along with many other reasons, are why I lose faith in my own US regulators, and why the retail investor continues to get fleeced. I again, want to be clear, I am opposed to this rule.
Branden Melton Comment On Regulatory Notice 22-08
Hello, I am a retail investor. I am one of many individual investors who lives month to month. I am a 100% disabled veteran and Ive been invested since the moment I got my disability. I mostly trade inverse and leveraged ETFs and ETNs. Since I began trading in 2020, I have made almost 300% returns. I am a traditional buy and hold investor. I know these investment vehicles are supposed to be in and out plays, but Im up over 1000% on one of my holdings, and up 300% on two others. This justifies less than 1/5 of my portfolio, and without my strategy, I dont believe I would continue to build on this success. I have done hours of research, scrolled through ETF after ETF, trying to figure out where my investment strategy may lie. Now, FINRA seeks to implement new controls over a portion of the market where I am making my success. The new controls would box me out because I am not a pattern day trader, have a high portfolio value, or my broker doesnt clear me. Sounds an awful lot like a pit boss at a casino who is tired of seeing his tables lose. I am opposed to this proposed rule. I would prefer instead that the SEC pursue charges against the big banks, the hedge funds, the overpaid CEOs, the corrupt politicians who insider trade, the regulators themselves who are complicit in almost every scheme but never admit wrongdoing. This, along with many other reasons, are why I lose faith in my own US regulators, and why the retail investor continues to get fleeced. I again, want to be clear, I am opposed to this rule.