A stock-trading company?

[shorttermer]

thanks kodange,

quite a lot of things you say are on my mind.

sincerest gratitude,

shorttermer

 

[jaideep]

Firstly......impressive claims.
Sercondly.........looks like you have good business pedigree to start with.
Thirdly.......nothing wrong in aiming higher.
Fourthly & most importantly......give some of your expertise to this forum so that others can benefit too.

 

[shorttermer]

Hi Jaideep,

Thank you so much for kind and encouraging words. (If anyone is wondering, i swear to the Universe, my claims are true)

Yes, I agree I should give more input into this forum, rather than take the way i have been. I guess i am over-awed by the depth of knowledge of TA and senior member's info. that I end up not feeling confident of putting my observations on the site, and feel underwhelmed. Yes, I maybe should start putting in my observtions and reccs, and also start a thread like amitbe and saint have done. sorry i just feel little small putting in my info which is more basic than the types senior members put in... they are wizards of TA... im a simple businessman at the end of the day with nimble skills and more basic knowledge and business acumen. i will give it a shot in the coming weeks and see how it goes! i heartily agree though i havent contributed my worth to this forum!

Thank you so much Jaideep

shorttermer

 

[shorttermer]

Hi Kondage,

Just wanted to tell yes, I have started getting a CA on board and the person who manages my personal wealth. I defi. need the tax help, co. structure, legalese, etc, etc. I have the fortunate help there of being from a business family where i have the contacts for all the right kind of people for all this (sigh - yuck) work.

Thanks,

shorttermer

 

[usha]

hi friend shorttermer,
First of all my sincere wishes to a young successful trader I ever kenw. Just today saw your thread and I felt like having a word with you.
What I understand from your first post is that you are not looking at becoming a broker, instead you want to manage your profits/turnover through a company. I feel you can start a private limited co., (if you have not yet started) instead of trading on your individual name. A company will be a seperate legal entity and not binding on the persons who work for it.
-you can buy blue chip shares out of profits only(as long term investment) to build fixed asset/capital for the company
-you will be managing the funds of the company towards trading which can be your own fund and/or funds of other directors/shareholders of the company
-your liability is fixed to your share holding in the company
-you can draw fixed salaries, commissions, sitting fees and other benefits like car, house rent etc as the Director of the company as per the terms aggreed upon in your memorandum and Articles.

I understand you have good business familiy support,experience and of course success at an early age. But never overdo anything, never ever blindly trust anybody who says they could help you, it is U who is gotta do your homework properly. God has given you a chance grab it, utilise it, holding company and warren buffet are big terms for you now, take one step at a time. Concentrate on your first step now make it a concrete step. Focus is all I can say for you now.

Usha

 

[harmads]

Thats great going Shorttermer !! for a novice like me the figures you mentioned are impessive. Keep it up !! I presume you day-trade your way through. Can you also pass some wisdom for people like me...

Best regards

 

[CreditViolet]

Hi shorttermer
A novel idea and sincere good luck and wishes for your project.

CV

 

[nkpanjiyar]

Hello members of the forum, respected Traderji, et al,

I have amassed a small fortune (around 70 lakhs - started with negative 9 lakhs) from trading and i basically live of it - make my capital appreciate around 50-70% every year, and getting more experienced with time. I'm 21, i dont have a job - trading is my job, and i know this is my life's calling. im now engaged, got a flat, got things really well set-up - well life's good. i now hire an accountant, got things setup in a small office in the building i live in - always losing the battle for perfect accountancy - but handle it good.

I really feel now I'm ready to stop doing my trading on my personal name, and establish a company. My family is a business family, and so the whole bureacratic bull will be easy to get through... setting up will be an easy task. an office sublet from my family is no problem. i feel having the dual structure of my personal finances and a co. to deal with will make life so much simpler with money. plus buying things like a car, holidays, etc can be done through the co., with me drawing a salary from the co., and issuing dividends from time to time. I feel it would be a more tax-friendly, efficient, and growth-oriented way of working. also it will be a great opportunity for me to branch out into other finance-related areas, like handling ppl's money (too many requests!), inter-corporate loans, and venture-capitalisms. it will also enable me to pursue my dream of having warren buffet like hold on cos. in the long run

anyone, who knows anything about such a concept of a trading company, or any related items, or just want to give their view-points, please post it to me. Hungry for any moral support and backing, and criticisms, flaws, or points of concern. Any views on taxation structure will also be welcome!

Please contribute to the thread, will make a world of difference for me,

Thanking you,

sincerely,

shorttermer

Dear Shorttermer,

I congratulate you sincerely for the success you earned in this young age and appreciate your openness. Its a mind-boggling figure indeed! Many learned people already suggested you with nice advice... talk with CA, have public ltd co etc etc. I would say that you can also think of putting some money elsewhere like forex trading, other stock exchange trading, commodity market. AMC kind of company will also make sense based on your strength and confidence.

All the best for your future projects. As jaideep mentioned, we also look forward in sharing some of your wisdom so that we can also make some!

cheers,
nkpanjiyar

 

[sh50]

You have mentioned some accountancy problems in the beginning. Accounts is the language of business and some knowledge of accounts is a must in my view. There have been several instances of accountants and chartered accountants fleecing their own clients.

The thread below contains tips on how to maintain accounts for investment portfilio. Trading portfolio entries are a lot simpler. It is easier to explain on one to one basis. If you are Delhi based by any chance, I can help you out.

http://www.traderji.com/risk-mone...ractical-money-education.html?highlight=Tally

I know a couple of people like who are actually doing portfolio. I will find out from them and let you know.

Trading education and chatrooms are other business opportunities you can look into with the way things are going.