General Trading Chat

[umesh12]

This will have a major impact on trading forums. Even commenting on a stock could be interpreted as a directional reccomendation.
The broker threads, educational stuff and 100% copy paster threads will continue.
Trading diaries and daytrading comments are over.

As per rules, not even educational stuff by an unqualified person (as defined by SEBI in the rules), unless clearly specified and exemption given to unqualified persons, by SEBI

 

[DSM]

Raghuveer, You said it right. SEBI guidelines apply only to professionals who derive an income from or write or appear on TV or have paid subscription services, (which are now flourishing by the day) The opinions expressed by these guys can impact public sentiment. SEBI cannot ban freedom of speech, which in case of the forum is only expression of opinion.

My understanding of this SEBI pdf is that it does not apply to most people, posters in forums. I am just a lay person (not a lawyer, advisor etc) so I could be wrong, just an opinion of mine.

As per pdf only below types of people cannot post/comment/advise without registration etc.

These new rules apply to:
(g) "fund manager" includes fund managers of a mutual fund or alternative
investment fund or venture capital fund or portfolio manager;
(h) "independent research analyst" means a person whose only business activity is research analysis or preparation and/or publication of research report;
(j) "investment adviser" means any person registered under Securities and
Exchange Board of India (Investment Advisers) Regulations, 2013;
(k) “limited liability partnership” means a partnership formed and registered
under The Limited Liability Partnership Act, 2008(6 of 2009);
(l) “merchant banking or investment banking or brokerage services” includes,-
(p) "proxy adviser” means any person who provide advice, through any means, to institutional investor or shareholder of a company, in relation to exercise of their rights in the company including recommendations on public offer or voting recommendation on agenda items;
(t) "relative" means a person as defined in sub section (77) of section 2 of the
Companies Act, 2013 and who is financially dependent on independent
research analyst or individual research analyst employed by research entity;
(u) “research analyst” means a person who is primarily responsible for,-
i. preparation or publication of the content of the research report; or
ii. providing research report; or
iii. making 'buy/sell/hold' recommendation; or
iv. giving price target; or
v. offering an opinion concerning public offer,
with respect to securities that are listed or to be listed in a stock exchange,
whether or not any such person has the job title of 'research analyst' and
includes any other entities engaged in issuance of research report or
research analysis.
Explanation.-The term also includes any associated person who reports
directly or indirectly to such a research analyst in connection with activities
provided above;
(v) "research entity" means an intermediary registered with Board who is also
engaged in merchant banking or investment banking or brokerage services
or underwriting services and issue research report or research analysis in its
own name through the individuals employed by it as research analyst and
includes any other intermediary engaged in issuance of research report or
research analysis;

 

[umesh12]

My understanding of this SEBI pdf is that it does not apply to most people, posters in forums. I am just a lay person (not a lawyer, advisor etc) so I could be wrong, just an opinion of mine.

As per pdf only below types of people cannot post/comment/advise without registration etc.

These new rules apply to:
(g) "fund manager" includes fund managers of a mutual fund or alternative
investment fund or venture capital fund or portfolio manager;
(h) "independent research analyst" means a person whose only business activity is research analysis or preparation and/or publication of research report;
(j) "investment adviser" means any person registered under Securities and
Exchange Board of India (Investment Advisers) Regulations, 2013;
(k) “limited liability partnership” means a partnership formed and registered
under The Limited Liability Partnership Act, 2008(6 of 2009);
(l) “merchant banking or investment banking or brokerage services” includes,-
(p) "proxy adviser” means any person who provide advice, through any means, to institutional investor or shareholder of a company, in relation to exercise of their rights in the company including recommendations on public offer or voting recommendation on agenda items;
(t) "relative" means a person as defined in sub section (77) of section 2 of the
Companies Act, 2013 and who is financially dependent on independent
research analyst or individual research analyst employed by research entity;
(u) “research analyst” means a person who is primarily responsible for,-
i. preparation or publication of the content of the research report; or
ii. providing research report; or
iii. making 'buy/sell/hold' recommendation; or
iv. giving price target; or
v. offering an opinion concerning public offer,
with respect to securities that are listed or to be listed in a stock exchange,
whether or not any such person has the job title of 'research analyst' and
includes any other entities engaged in issuance of research report or
research analysis.
Explanation.-The term also includes any associated person who reports
directly or indirectly to such a research analyst in connection with activities
provided above;
(v) "research entity" means an intermediary registered with Board who is also
engaged in merchant banking or investment banking or brokerage services
or underwriting services and issue research report or research analysis in its
own name through the individuals employed by it as research analyst and
includes any other intermediary engaged in issuance of research report or
research analysis;

No the rule applies to all sort of persons, individuals, blogs, forums etc. and to those who are not qualified to do so.

 

[umesh12]

Bombarding by carrying bombs in spoons, wont help
Use some other method to vent out your frustration for not knowing the levels before hand.

And also dont allow your shoulders to carry guns of others :lol: :lol:
You cant even pull the trigger of the gun you are carrying, someone's else finger is there. :annoyed:

 

[TradeJoker]

No the rule applies to all sort of persons, individuals, blogs, forums etc. and to those who are not qualified to do so.

wat if someone use code ?, like kiss 100 mukesh ambani @ 1000, or kick murthy@ 4000 etc.?

 

[XRAY27]

wat if someone use code ?, like kiss 100 mukesh ambani @ 1000, or kick murthy@ 4000 etc.?

Admin has to tell whether this rule of SEBI applies to forum/s and codes also

 

[Pradeep Narayan]

From Dec 1, only registered analysts can give recommendations: SEBI


http://www.thehindubusinessline.com...-give-recommendations-sebi/article6643934.ece

Time to short google and facebook

My opinion (and I am no legal expert):
I guess members of the forum should declare their name and phone/address and also state whether they are/or not authorized research analyst/investment advisors. For the folks who are Investment Advisors/Research Analysts a foot-note giving those details can come under their forum name. For the folks who are not sebi certified, a disclaimer under the user name stating that the user is just expressing his opinion and one should not construe this of any financial value etc.. could suffice.

The names and addresses can be collected or mobile phones verified.. this will be part of user registration and will be held confidential.

 

[Somatung]

My opinion (and I am no legal expert):
I guess members of the forum should declare their name and phone/address and also state whether they are/or not authorized research analyst/investment advisors. For the folks who are Investment Advisors/Research Analysts a foot-note giving those details can come under their forum name. For the folks who are not sebi certified, a disclaimer under the user name stating that the user is just expressing his opinion and one should not construe this of any financial value etc.. could suffice.

The names and addresses can be collected or mobile phones verified.. this will be part of user registration and will be held confidential.

Your idea is not wrong, but I guess not worked out in its last detail. Let me take your idea and modify it a bit.

The forum can open a new section for tip providers or for those who want to give buy and sell signals in any way in any derivative. Who ever posts there is recognized as such a member and at the moment he posts in that section, he has to give his exact details and qualifications to the forum. Those data will be held confidential if the posters wants. But those details will be controlled by the admins and even reported when not being true.

To post in that section, this would be a must and even a certain amount of previous, serious post would be acquired to even have the possibility to post in that specific section of the forum. Let say around 50 serious post. No post counted in the "General Chit Chat" section nor in the "Introduction section" nor in any section which is not related to trading. So a needed, passing level would be set here and watched from the admins and mods.

If done that way, other forum members know with who they deal. Any post in any other sections which will show any tips or what so ever will be deleted as long as it is not clear that this is just for educational purpose. This is easily done with a disclaimer in the post which then will be a muss to post, other wise the post will be deleted and the member will get a warning.

In this way all still can come in to the forum under avatar names and at the moment some one will show off with buy and sell levels or what so ever recommendations, she/he has to get officially in the forum.

For all existing threads this rule would start the day the forum admins do agree with such a way of handling the forum and all would know that this are now the new rule. Past would be past and a new start would be able and non would need to change much, just act according to the new rules.

Take care / Dan

 

[manishchan]

Was busy wid personal stuff over this weekend.. opened TJ jst now and looks like loads of talks around what should and what shouldn't be the content of TJ going forward in the light of SEBI's new circular. (nice to see all the members participating in the discussion)

Well.. I dnt know how admin (TRADERJI) wants to control the posts technically.. but I have always said out loud dt this platform is for learning and sharing trading skills. Giving level doesn't help nyone at all unless there is reason given. Or just saying I bought here.. and I sold here and then later posting with joy.. showing off etc (without posting charts/actual trades/reasons or at least saying dt itz model trade). I mean how is dt going to help nyone. Prob is ... often I hear answers like, "what's ur problem If xyz or abc is posting levels". Well.. I personally never have problem coz I dnt care for the levels...but its problem for the people who are trying to learn methods but are getting stuck in the vicious cycle of levels.

Again.. I say.. giving level is not wrong.. but give a reason for the level. Why this level.. is it some fibbo retrac, Gann angle, your personaly calculation based on something you have developed., some prev resistance/support, somebody's age..house number.. road number.. ur girlfriends' phone number... or some fancy number.. etc etc.. I mean just post why d heck u are considering that level dtz it. It doesn't necessary requires you to disclose method. At least person learning would have some curiosity to learn about dt particular reason. right ?? You just have to type a few extra words. Why is dt so hard..!!

Nyways.. with all said and done. I havn't completely gone through the new SEBI rule. but I guess the moderator/admin has to decide how they want to go ahead with anyone posting their analysis/views/levels etc.

PS : This is my personal view based on my overall months/years spent on TJ. I'm NOT at all pointing this towards any single person.. so I won't entertain attack for this

 

[XRAY27]

Was busy wid personal stuff over this weekend.. opened TJ jst now and looks like loads of talks around what should and what shouldn't be the content of TJ going forward in the light of SEBI's new circular. (nice to see all the members participating in the discussion)

Well.. I dnt know how admin (TRADERJI) wants to control the posts technically.. but I have always said out loud dt this platform is for learning and sharing trading skills. Giving level doesn't help nyone at all unless there is reason given. Or just saying I bought here.. and I sold here and then later posting with joy.. showing off etc (without posting charts/actual trades/reasons or at least saying dt itz model trade). I mean how is dt going to help nyone. Prob is ... often I hear answers like, "what's ur problem If xyz or abc is posting levels". Well.. I personally never have problem coz I dnt care for the levels...but its problem for the people who are trying to learn methods but are getting stuck in the vicious cycle of levels.

Again.. I say.. giving level is not wrong.. but give a reason for the level. Why this level.. is it some fibbo retrac, Gann angle, your personaly calculation based on something you have developed., some prev resistance/support, somebody's age..house number.. road number.. ur girlfriends' phone number... or some fancy number.. etc etc.. I mean just post why d heck u are considering that level dtz it. It doesn't necessary requires you to disclose method. At least person learning would have some curiosity to learn about dt particular reason. right ?? You just have to type a few extra words. Why is dt so hard..!!

Nyways.. with all said and done. I havn't completely gone through the new SEBI rule. but I guess the moderator/admin has to decide how they want to go ahead with anyone posting their analysis/views/levels etc.

PS : This is my personal view based on my overall months/years spent on TJ. I'm NOT at all pointing this towards any single person.. so I won't entertain attack for this

Manish !!

I never care for levels...as far as i remember i have only posted charts till now...

Anyways till TRADERJI deside in the direction of SEBI circular and update new rules of forum...i will not post any charts...

Thanks for SEBI as it reduced my work !!!