The dubba trading comes in many colors and flavors, friend. The dubba trading I am talking of is not semi-legal sort which is used to launder money . I am talking of dubba trading in which a group of people become the virtual exchange and the broker. Mainly it is played by the people who want to trade like you and I but don't want government to know from where the playing money comes from and where the profit/loss goes to. All black, all on trust, high brokerage. In bombay there are many outfits as such, almost all dealing in commodities, particularly in gold and silver. There are arbitrary margins from person to person, decided by the bosses. For example, I go in there and put 50k on the table and say, I want to go long on 2 lots gold at CMP with brokerage of say 600 per lot, win or loss. No actual trade gets executed, just an Odin or nest screen showing prices. If say price goes down to the level of 50k loss. Either I am out of trade or I ask for to let it play and give me time to arrange more money - that is the margin. 80% of the times this 50k becomes 150k and end up in bosses pockets sooner or later. And I suspect the same thing is going to happen to Nifty, coz I think BNF is already being played. BTW, Stock market that we all play eventually does the same legally, and to lesser scale. Only difference is, Dubba people don't like too many winners, and they have ways to discourage them.
How do know I all this? Well, I was once offered a job by a big tipper from bombay on moneycontrol to help him cater a cartel of jewellers who regularly speculated on gold and silver in obscene quantity. 5000 per tip plus percentage share on profit.
How do know I all this? Well, I was once offered a job by a big tipper from bombay on moneycontrol to help him cater a cartel of jewellers who regularly speculated on gold and silver in obscene quantity. 5000 per tip plus percentage share on profit.
