Dabba walah

[mastermind007]

Last week, met yet another trading trainer who trades (claims to trade) his own money thru Dabba walah. Keeps a small yellow post-it notes for trades taken and destroys records once settlement is concluded.

He uses software only to see the chart but continues to trade by dialling into the dabbawalah broker.

 

[shirajroz]

Last week, met yet another trading trainer who trades (claims to trade) his own money thru Dabba walah. Keeps a small yellow post-it notes for trades taken and destroys records once settlement is concluded.

He uses software only to see the chart but continues to trade by dialling into the dabbawalah broker.

Just Curious, how do they infuse money into the system anonymously , i mean someone somewhere has to b accounted for if dey actually trade thru exchanges.

Anyway it's not my Dabba of Tea

 

[mastermind007]

Just Curious, how do they infuse money into the system anonymously , i mean someone somewhere has to b accounted for if dey actually trade thru exchanges.

Anyway it's not my Dabba of Tea

What I've understood is as follows; If a client calls and says he wants to buy something for Xyz Rs blah blah qty, the operator looks at the screen for LTP, Bid Ask and if all is well, orally confirms the order. Trade is considered executed at that point. Same thing for Exits. If client is in profit at the end of week, he gets paid otherwise he has to pay. Those orders are never reflected in exchanges.

 

[lemondew]

wow never knew something like this exists. Yes its a good idea to become a dabba operator. As most loose money its good idea to start that business.
Interesting I liked this thread

What I've understood is as follows; If a client calls and says I bought something for 10Rs xyz qty, the operator looks at the screen for LTP, Bid Ask and if all is well, orally confirms the order. Trade is considered executed at that point. Same thing for exit. If client is in profit at the end of week, he gets paid otherwise he has to pay. Those orders are never reflected in exchanges.

 

[timepass]

What I've understood is as follows; If a client calls and says he wants to buy something for Xyz Rs blah blah qty, the operator looks at the screen for LTP, Bid Ask and if all is well, orally confirms the order. Trade is considered executed at that point. Same thing for Exits. If client is in profit at the end of week, he gets paid otherwise he has to pay. Those orders are never reflected in exchanges.

Sort of a parallel exchange, just not paying any taxes, not having a regulator like the SEBI.

 

[lemondew]

I think they must be trading through a prop desk. Otherwise the broker is taking a position contrary to every client of his which doesnt make much sense. No sane would take position contrary to other guy without thinking

 

[tradersumo]

wow never knew something like this exists. Yes its a good idea to become a dabba operator. As most loose money its good idea to start that business.
Interesting I liked this thread

Excited with this idea. When taking a franchise

 

[Riskyman]

I think they must be trading through a prop desk. Otherwise the broker is taking a position contrary to every client of his which doesnt make much sense. No sane would take position contrary to other guy without thinking

Nope. The broker himself is acting like the exchange. The orders are not sent to any exchange. All orders are executed on the books of the dabba wallah. Thats it.

 

[amandeep86]

Last week, met yet another trading trainer who trades (claims to trade) his own money thru Dabba walah. Keeps a small yellow post-it notes for trades taken and destroys records once settlement is concluded.

He uses software only to see the chart but continues to trade by dialling into the dabbawalah broker.

A consistent trader cant survive with any of the dabbah wallah

They will track your performance for one month and understand your nature of profit and losses,if one is a consistent earner or is a professional trader ,they will close your account,Since your profit is their loss.

They purposefully give high exposure as they want you to lose as early as possible ,all your lost margin is their profit.

They simply main a register of trades without actually punching trades into the system.Have a couple of freinds trading with them ,They behave like casinos and hate the consistent money makers which we all here aim to become.....:lol::lol::lol:

 

[shirajroz]

What I've understood is as follows; If a client calls and says he wants to buy something for Xyz Rs blah blah qty, the operator looks at the screen for LTP, Bid Ask and if all is well, orally confirms the order. Trade is considered executed at that point. Same thing for Exits. If client is in profit at the end of week, he gets paid otherwise he has to pay. Those orders are never reflected in exchanges.

The catch is IF ALL IS WELL (obviously for the Dealer) , if not, the Dealer flies to a new Dwell leaving the traders in Hell, so whether the Traders do Well or jump into Well , the Dealer always Swell.

in a Zamana where even the bowel movements are a matter of bets, this Dabba Trade is surprisingly lesser known.