Plan to Open a TRADING ROOM for Group Trading ? Is it Legal?

General
1

HI,
Planning to Open a Trading Room for Groups.
For this am going to provide a suitable atmosphere for the Traders viz.,

  • Charting Software (Customised) to easy to read charts.
  • Single Desk
  • Internet Connection
  • Power backup etc.,

For this I intend to charge a rentals from the traders.

By this, doing trading together with other traders, the traders may get sharing knowledge, as well decide to entry / exit of the trades without fear.

One those who intends to trade of his individual, he can come and join in our Trading Room by paying monthly subscription / rental value.

Is this is a Legal entity to start such business as per the SEBI ?

Please guide me what kind of legal documents required to start this kind of business.

Thank you,

2

@udayasai

i do not know the legality of it, but even if one could do it. Why should anyone join your group?

Sharing knowledge is not enough , as that is done on this forum and many others.

3

I am guessing this is an offline group? People have tried and failed at this. Even if you find people interested, how do you get them all to one place everyday is the question.

4

So basically its a gaming cafe filled with traders.

5

Thank you for your reply for my question sir.

Yes it is Offline Group Only.

If I can gathered them into one place, on daily basis, will it be Legal ?

Can I do that ?

6

This concept wont work in a market with Indian Mentality. Everyone in our Country wants to be a GURU and effortlessly spends too much energy to prove others wrong.

Moreover the Intraday Retail Segment is flooded with too many unemployed middle aged individuals with dreams to become the next Bansal’s of India.

The ones you manage to sign up will be the ones who are just looking around to see how you do it and steal your idea.

If life is peaceful as of now, why take un-necessary stress ?

7

:smiley::smiley:
Agreed. It’s true.

8

It’s legal, what’s illegal is those people doing circular trading

9

Can you eleborate about Circular Trading ?

10
11

Thank you. Got the right information.

12

For offline group study strategy you may get help from Alaxender elder’s book trading for living

13

Of course it is legal, nothing stops from a bunch of people to sit in one place and trade. How will you share the charting software among everyone will be a question. You will need multiple instances of it for as many people as you have.

If you are trying to do this for fun, maybe you can attempt it. It is not sustainable as a business model in today’s world where people don’t want to travel etc. Many have tried and failed.

2 Likes
14

@udayasai @nithin well i think beginner traders who live near by the area will definitely be interested or ever better if you can find few experience traders you can even start a class but again all of this will require proper plan and some investment
you can never know if it works or not unless you try
http://www.turtleonsteroids.ml/blog/

15

this is similar to renting office space…
There are many who offer this facility, check rentadesk kind of sites

16

I think Marketcalls.in is/was providing facility like u mentioned in Jayanagar/Bengaluru. Check out their website fr the latest.

17

Hi Udayasai,

I am new to day trading and I just love this idea at least once in a month. It will be like brainstorm on different view on price action strategy and investing at the same time. If we bagged profit then we can celebrate or in the event of loss we can mourn together.

If this is not possible we can meet over weekend and discuss our mistakes and make a fun out of it.

18

Do whatever you want to do.
But simply put a Disclaimer!
Just say that every info. is for Education.
Than nothing will be Questionable.

19

Thank you. You will love my website www.yesyoucantrade.com

20

Thank you