Any way my account will b deleted from this site at any time as I requested to moderator bhuvanesh to delete my account.I will try my best to help u .
A leader/administrator is needed.
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Yup, and unless I see a suitable person at the top, I am afraid, I won’t be of much help either. We would be fighting against a statutory body and I don’t think I would be doing that without proper protection.
Yes it might affect me, but I’d rather wait and see first what rules are promulgated and what is the response of people. It might keep me out of market for a while but I am ready to wait.
I really don’t have enough resources to get involved. So I would like to be excused. Also, this is affecting my trading, so I would rather focus on it while I can.
Showing dissent is one thing, actually fighting it out in court is another.
I am also a bit confused about supporting this. It is kind of right thing to do. But there are just too many variables to consider. And I am not sure how the government will respond. It has the power to do a lot of things and I wouldn’t want to be in it’s cross-hairs.
P.S. If you play chess, you know you always keep your pieces covered when you make a move, else it is game-over for you.
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The main problem in organizing a protest will be this:
- 90% of F&O traders are at loss and they don’t worry much about sebi restricting retailers
- Most of the people(out of the remaining 10%) who are making good money wouldn’t have reported their correct F&O profits in their IT returns over the past several years.
Beware, you are trying to fight against Government of India’s stand.
Also, I repeat this once again. Forget protest, first ARTI members should atleast try to meet at a common place.
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I kept quite for sometime, but I have to say this. You are a bit scared person. All the things you mention are valid points, but they all are mostly ifs and buts. A project/endeavour sometimes collapses because of people with shaky feet. Mind you, I am not talking about dare devilry. This is actually weakness I should say. People who decide upon a certain thing and barge ahead (after making necessary calculations,as much as possible) with faith in themselves are the ones who actually get something done. If this wasnt true, there would never have been something called ZERODHA ! You would have been doing some other job instead of trading. I know all this because I am an entrepreneur. You have to take RISK to go places. @Avi_Garg is trying to do that. Wish him well and bow out gracefully. You can stay on the sidelines if you want to no problem.
EDIT : What is govt ? They are servants of people. Whenever people have become furious, govt has bowed down always. I have plastered all over the internet the choicest words for modi, Even before they come after you, they will be taking me down first. So dont worry. Whatever is happening is injustice to small traders. We have to fight this. And we are not AMFRI, we are in millions.
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I think 90% is a myth. Most probably the number is somewhere near 50%. Even if it is true, they will surely complain about high contract size.
This is not only about ITR.
So ? Do you think we are planning to assassinate the PM ? We are only trying to explain ourselves. It is our right ! And I am sure if we have good enough numbers, govt will bow out.
I agree to this. And I think if we dont encounter anymore naysayers, this will happen for sure.
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Well, that’s every game. That’s life. 10% succeed and 90% lose. That everyone experiences when they are in school. Like there are a few toppers and rest are average or failures. It’s natural and it has been like that forever. But it doesn’t mean trading itself should become harder. What good does it serve? It’s making it harder to participate and to be profitable if you do participate. You still aren’t doing anything that can prevent losses, only making it less impactful but at the same time what’s the point of doing that if you are making it harder to make a profit at the same time. That’s why people should care. To have a game, to have a market that is profitable.
I am not afraid of the government. People make all sorts of jokes about the government. This is a democracy. I can’t be afraid of what everyone put together and created to serve us.
And one more thing. The difference in strength? What about it? Do you think I should give up just because they are stronger.
And meeting in person is not necessary. Things happen that way globally. Support can be given through a lot of ways.
Having said that, please do consider supporting us. I know you can. I’ll be waiting.
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Whatever you say. But I have had been in couple of real protests before. Got bruised and abandoned. So once bitten twice careful.
I already said it is a right thing to do, but I don’t want to play blind. You people seem to be young to me so go ahead and do what you feel you really want to do. The secret to success is the enthusiasm with which a goal is approached but not resourcefulness or power. If you just keep your enthusiasm alive you will win.
If I would be with you I might actually slow you down, by trying to secure everything before something is done.
Infact a few days ago I just had thought of stealing the association name by registering it and file a writ petition all by myself but then I thought I am not ready enough to do this.
If I want to do something. I don’t wait for other people’s permission or acceptance. So if I am not ready, your criticism won’t affect me either.
I never base my judgement on what has happened, what is happening elsewhere etc. There can simply be no comparison to anything but what my true problem is and how it can be addressed.
So no need for association, no need for money, no need for lawyer, infact no need for SEBI or even stock market. But, What is my goal, what I can give to achieve it, what costs I am ready to pay etc. If you think like this, you may find 1000’s of solution than being single minded about wanting to go to court. What if I simply file a habeas corpus against SEBI. Do you think I will need any of the social jamboree to do that. It might get thrown, but If I work right and get it accepted, the SEBI rule will fly right into thin air.
So you take your approach to this fight, I shall take mine.
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I don’t attest to whatever you said. All of it is meaningless. The only thing meaningful is, SEBI’s rule will be hurting me and it must get reviewed to address the same (be not hurtful to me). There are fundamental rights and laws for everything, which work for me as well. And being an Indian citizen those rights and laws apply to me as well.
If I think I am being wronged I have all the right to voice myself against it or take appropriate action to protect myself. In there nobody can come in between. So don’t give me the problems, just tell me, how much you really want it.
If you want it badly enough, you will get it for sure.
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superb!
I will support you the day you do this… no worries …I don’t think such organisations will become someone’s properties because they will be created for common good and over time there will be many people who will head it … although I’m doubtful if you will be able to register it all alone …you will be needing a group of people to become office bearers and members who will have responsibilities … so go ahead the day you feel you are prepared and my support will be with you … as far as stealing the name is concerned … even the name is no ones property yet till it gets registered … so it will be yours if you register it first
As far as a writ petition is concerned …it’s the easiest solution available …even an individual can file it if a rule is hurting even one person.
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This is not the correct writ … habeas corpus is filed when some person goes missing.
Correct writ in our case will be writ of prohibition and certiorari …which relates to prohibiting a govt organisation to perform some action in excess when such action is hurting the affected person in some way or does not apply to him and/or quashing such order/rule.
For filing the writ by single person it’s not even necessary to form any association. A writ in HC is better because HC has more powers than SC in terms of writ petition. Rest your lawyer will guide you.
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Hope it recruits some sensible people
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I understand what habeas corpus means. It also means wrongful confinement. I guess in the world of law many things are also based on interpretation rather than just literal meanings. So my interpretation in using this writ would be that since I have given about 7 years to reach where I am today with respect to trading in the markets, I am wrongfully being confined economically and as such either SEBI rule has to be delayed so that I have enough time to find alternate employment or remove it all together as it will affect livelihood of so many people.
And yes I might have gotten corrected by the court may be. But I would have filed another based on feedback from the court. The first step is taking action than waiting for money or support. There is always problems, by taking action one might know what kind of problems be faced and then solve them one by one and keep going forward.
I can’t tell you the kind of opposition I faced when wanting to be a trader. But here I am. The only thing is, certain things have changed in my personal life and I am responsible for many things so I have to take care of them first than get involved in a court battle. It’s not just about my own security but them as well.
Yeah and that too. That’s why I mentioned no need for association etc. Why take such long route when things can be done more easily. Also, I wouldn’t be dependent on any external factors to get my grievances redressed. And a writ has much more power than any other kind of case as it relates to fundamental rights of a person being breached. It’s like pressing an emergency button.
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Yeah I know that too. But had I decided to go this route, I wold have found right number of people to join it. As I said, I wouldn’t wait for permission or acceptance. If I really want to do something, I work hard to make it a reality. It is easier that way.
But right now I am waiting for the rules and If necessary then take appropriate action.
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Yes, lot of things depend on interpretation … however using habeus corpus here would be inappropriate because a provision is already present which relates exactly to the present situation you mentioned.
Your logic is correct… it’s about snatching people’s livelihood which they have developed by their hard work and snatching it all of a sudden by implementing a rule is not fair.
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Some points you can use to argue against SEBI in court and to keep you guys motivated 
"We are the masters of RISK, we are not gamblers"
Seriously, I am proud of the fact that I eat what I kill, and I dont have a godfather giving me monthly salary.
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See the result of protest.
EDIT: This is about FPI protesting, not ours.
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This circular/news states that SEBI may look at the problems of FPIs (and not the problems of retail traders/investors).
Lol… This is the famous Lex van Dam !!
From Million Dollar Traders… 
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SEBI agrees that it is not doing well ?
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