Day Traders Lounge.

[Smart_trade]

BREAKING NEWS :Sebi clamps down on 59 entities including high net worth individuals (HNI) for tax evasion: PTI

Wondering what kind of tax is evaded as SEBI is not concerned with tax evasion. It is the jurisdiction of Income Tax Department. It could be P- Notes misuse which SIT has been telling SEBI from some time now,

Smart_trade

 

[XRAY27]

Wondering what kind of tax is evaded as SEBI is not concerned with tax evasion. It is the jurisdiction of Income Tax Department. It could be P- Notes misuse which SIT has been telling SEBI from some time now,

Smart_trade

This is the Breaking news in times of india website

 

[gkpc]

Wondering what kind of tax is evaded as SEBI is not concerned with tax evasion. It is the jurisdiction of Income Tax Department. It could be P- Notes misuse which SIT has been telling SEBI from some time now,

Smart_trade

It pertains to pre arranged entities making Profit at the cost of pre decided people making Loss ! These have been referred to IT dept for other action !

http://www.livemint.com/Money/pVHjPrfLGe7LIyrUzBrJQO/Sebi-bars-59-entities-for-tax-evasion.html

 

[Smart_trade]

It pertains to pre arranged entities making Profit at the cost of pre decided people making Loss ! These have been referred to IT dept for other action !

http://www.livemint.com/Money/pVHjPrfLGe7LIyrUzBrJQO/Sebi-bars-59-entities-for-tax-evasion.html

This is the practice of "entries" which was very rampart few years back....even small time brokers used to indulge in it...it is on much reduced scale these days.

ST

 

[wisp]

Dear ST and other Seniors,

Please share your views on daytrading as a profession. how good or bad can it be if we are able to survive the initial years? Is it a futile mission? please share

 

[timepass]

This is the practice of "entries" which was very rampart few years back....even small time brokers used to indulge in it...it is on much reduced scale these days.

ST

Yes, rampant on lower scale too. I have seen it here among the textile traders when they need to spread out their turnover in multiple companies to avoid getting into audit bracket. They used to charge 1-3% per entry.

 

[Smart_trade]

Dear ST and other Seniors,

Please share your views on daytrading as a profession. how good or bad can it be if we are able to survive the initial years? Is it a futile mission? please share

Daytrading is a fantastic profession if we are able to survive through the initial years. But let me caution you....the success rate is very small...less than 5 % so it obviously wont be easy.

Initially in daytrading we start with 1-2 Lacs capital but as we become successful, we have to increase our capital by adding back the profits. Problem is that traders after 5-10 years still keep trading 2-4 lots on small capital and compare their earnings with IT professional or corporate executives....for a full time trader one needs upwards of Rs 10-12 Lacs or more as trading capital....one can trade some swing trade positions also.

I have no doubt in my mind that trading is one of the best professions.If I have to start as a 20 years young man all over again, I will definately opt for trading again, no second thoughts.

Smart_trade

 

[timepass]

Daytrading is a fantastic profession if we are able to survive through the initial years. But let me caution you....the success rate is very small...less than 5 % so it obviously wont be easy.

Initially in daytrading we start with 1-2 Lacs capital but as we become successful, we have to increase our capital by adding back the profits. Problem is that traders after 5-10 years still keep trading 2-4 lots on small capital and compare their earnings with IT professional or corporate executives....for a full time trader one needs upwards of Rs 10-12 Lacs or more as trading capital....one can trade some swing trade positions also.

I have no doubt in my mind that trading is one of the best professions.If I have to start as a 20 years young man all over again, I will definately opt for trading again, no second thoughts.

Smart_trade

I wouldn't, not as a 20 years old fellow. Not with the mindset of a 20 years old. I suppose you meant 20 years of age and today's maturity

 

[TradeJoker]

I wouldn't, not as a 20 years old fellow. Not with the mindset of a 20 years old. I suppose you meant 20 years of age and today's maturity

And after marriage too

 

[wisp]

I wouldn't, not as a 20 years old fellow. Not with the mindset of a 20 years old. I suppose you meant 20 years of age and today's maturity

Who says mindset changes with age? Some 20 year olds are more mature than some 70 year olds :lol::lol: