I guess this decision would go through if we keep blaming govt or pointing fingers towards SEBI.
The discussion paper was out last year and SEBI did seek public opinion about limiting retail participation in F&O. Whether they cared for our opinion or not is a different thing, but how many of us really gave feedback last year ? How many of us have cared to reach SEBI, PMO thru relevant forms at least now? Do we want them to dig into our minds and find out, what we think?
I request everyone to reach SEBI at
[email protected], PMO thru
https://pmopg.gov.in/pmocitizen/Grievancepmo.aspx etc, reach out to traders with 5k+ followers on twitter and tweet to PMO, SBI, finance ministry (dont tweet trolls, tweet sensible points), lets give a try at least. Previously the govt did revert their decision of taxing PF, when there was public out cry. Don't be a troll of the govt, take action.
Previous year when Ktaka govt increased stamp duty on trading and removed the max limit of Rs.50, it affected me drastically, as am a scalper. Unfortunately, not many were worried. Now, many more are affected and I believe many would be against this decision
Few points I could collate :
1. Explain how it affects you, if you are a full time trader
2. How trading is business for some
3. Explain the nuisances like how option premium is calc
4. Without traders how would the price discovery happen, where would be liquidity, how would investors hedge their risk without counter-party, would the mkts be efficient? 10k crore STT, several crores STCG, brokers, exchanges survive, there would many Indirect beneficiaries as well like hardware, software, broadband etc to name a few.
Few steps I could think of-
1. Not all retail traders are aware of this decision yet - We need to create awareness, so that we can get their support as well
2. Be ready with our concerns/ points when we reach out to brokers/SEBI/exchanges
3. Tag News channels, SEBI, PMO, use hashtag while tweeting - create buzz, make our voice by heard in all this noise
3. Wait for the actual details to be revealed
4. Seek legal opinion?
P.S : Am a full time trader and share the same concerns as others here. But the way we are disorganized, I dont see any result oriented thing happening.