Following is my interaction with Joby. It all started with just around Rs back when I started and today whatever I have made is all out of that Rs I guess the reason for this is because it is very tough to trade and invest at the same time, I was never comfortable doing that. For example, I am shorting Nifty futures because I am feeling bearish, but what do I do with the stocks that I am holding for long term—hold or sell?
I usually hold the positions overnight and sometimes take intraday trades as well. I feel options give higher flexibility and shorting options inherently improves the winning odds as long as you have a risk management policy to cover when you are wrong, as the losses writing options can be unlimited. One of those things I do though is that when I take a wrong trade that was not intended to, I immediately book the loss if any and try to stay away from trading on that particular day.
Most of these trades typically are hedged because I would be shorting calls and puts at the same time so that I can benefit from both the calls and puts premium losing its value when in the range.
I also as a rule completely avoid writing naked put options. If the market is trading, I am looking at the screen if I am in a trade or not.
It is based on how I feel about my trade with respect to how the markets are moving. My routine is working out in the morning, playing football and going on family vacations with my wife Seena and two kids once or twice every year. Also before we end the conversation, I want to thank Zerodha for putting up a very unique initiative like the 60 Day Challenge that gives additional motivation to profit and be amongst the winners.
I could only conclude that he has a special skillset and importantly also the discipline to go along with it. Love playing poker, basketball, and guitar. I would like get Mr. This shows the Passion and Commitment towards Trading and finally the secrect of his success….
But all the years I have been trading actively, I have spent countless hours looking at the terminal on how Nifty prices move.
A bunch of people have requested for his number, but we cannot invade his privacy. Do ask any question on this post and will try to get answers from Joby as and when.
You are a real trader then, without using any other tool, you made fortune trading in the markets. Hello sir Congratulations Joby.. Now that is 22 years of hardcore trading experience speaking…. Congrats joby and a brave decision in quoting bakery business and to start as a full time trader..
Thanks a lot for sharing. Just i have query. I am having 5 different accounts at Zerodha mainly doing options. Right now i been putting all the orders at one time by putting 5 different copies of Nesttrader in my PC.
Is it possible that i have one Nesttrader putting orders for my 5 different accounts at one shot. One of my friend has told me that this is possible provided i do take the NISM certification derivative exam. Once passing the exam i can opt for a dealer terminal so that i can put orders for my 5 accounts at one shot. In case this possible would like to know more about it and is there any extra charges applicable.
Joseph this would be possible only if the 5 accounts belong to your immediate family. If they are your family accounts, yeah you can get registered with us as an Authorized person and get dealer terminals. Hi Nithin, how can it be beneficial for an individual trader in dividing the capital amount and trading via 5accounts.
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Yeah it is painful to trade on multiple accounts, but there are people who keep funds distributed in family members accounts to plan the taxes better. Thank You Nithin for the reply and will do it at the earliest. Should i undergo any exam like Nism. Yes, you will need to clear Equity Derivatives Dealers Module by NISM. Series Viii on this lin k. Thank you for sharing these success stories with us Mr.
These interviews are very encouraging and uplifting. Its really nice to see that you are really for trading and trading is really for you.
It is a fact that we see a lot of people from engineering background and trading succeessfully for the complexity handled by the brain on the path of education and it is natural though not so obvious to see engineers succeed. But time and again the world have seen many examples who have no formal education to interwind the brain but they have turned very successful and many really unknown names and still successful. We have seen Dhirubhai rising the great heights and becoming successful without formal PGDM or IIT….
We really need to understand and introspect irrespective of our any backgroung educational,financial interest and whatsoever…. Thanks Nithin and the entire Zerodha team for showing us the UNLOCKED value of passion called JOBY.
Abrar, he just knows very basics of computers, starting a terminal and logging in. He trades on his own. Truly inspirational real life story. Also, truly gifted to be able to take trades just by looking at the Market Depth window. I am also interested in options market. But it is very difficult to relate with them. The traders who you interview are more from a similar background and trade in Indian markets. So their success is truly an inspiration which improve my commitment as a trader.
Does Joby short strangle when the market is range bound in his analysis? If so, how does he manage risk? How does he do without keeping stops? Kartik, Joby trades on instinct and it is something you are born with. There are no stop losses kept, he gets out when he feels it is wrong.
I guess the risk management strategy is that the exposure to his networth is quite small. While you may see this as inspirational story, i see this as promoting bad trading habits.
The trader is trading based on his instincts and without a stop loss or any form of trading plan. One of the common reasons for people to blow out is that they bring in too much money on the table and hence are forced to put very tight stops and are trading with scared money, biggest reason for traders to loose money. That is the reason I have highlighted this twice, even ending the post with: Can I take trade leverage with this 3k? Pl excuse if this is a dumb question. Thats fluke in intraday traders will not get profited but only brokerage firms will get profited.
Sahil, the idea is to share what winners do while trading the markets.
I guess you have heard about our 60 day challenge, all of them profiled here have all been winners of our challenge consistently. I have just opened account with your brokerage. One thing which is missing is taking leveraged position in equity beyond intraday. They charge nominal interest for carry forwarding equity position. I wish Zerodha could enable such feature. Maan, we will not be able to do this but if you want such a feature, we can help you open a margin funding account with ILFS.
Once you have the margin funding account, you can keep the stock for as many days with leverage as you want with a nominal interest rate. But margin funding account, would require extra documents.
Liked all the comments a lot of information. I love the brokerage. Dear Nitin Ji, Namaste! You are doing an unparalleled work with respect to brokerage! I have lost a huge money in this market even after following some TV-appearing renowned tips providers.
I am in a distressed position now. Would you please help me connect some successful persons coming under days challenge section so that I could get some valuable guidance from them regarding how to trade or go in this market? Dear Nithin, whenever i press F5 button for the option scrips its not showing any values, i contacted your support team also, they are not able to help, will you pls. If F5 is not working, just double click on that scrip on marketwatch, the marketdepth window opens.
Guys do not be inspired with such nonsense. Whom will you believe, Zerodha or Market leaders??? If anyone has read some good books on TA will surely go with me. Is it possible, that 1 person with NO knowledge 2 Trades Options 3 Without stoplosses 4 Never has big losses 5 Without using any tools 5 Emotionally trading.
NOW THIS IS TOO MUCH TO DIGEST. I have read he made money from option writing and short selling…..
Nifty Trading Academy CEO - Mr HITENDRA DIXIT: THE INTRADAY MAESTRO HIS STORY OF SUCCESSFUL INTRA-DAY TRADING “The world is your oyster. It’s up to you to find the pearls”
As i am a new trader……Can anyone explain me what is short selling? Is it possible for nifty index? I want to know to short selling in NSE. Please can anyone explain with small example….
Or refer any link to understand its full concept….. You can read about shorting here. We will take the module on options live soon on Varsity which will explain about option shorting. I think the very first reason for his success his passion for trading and discipline to follow his set rules. JOBY, Congratulation you archived your target, hope we all of them to be achieved target as soon as possible.
Hello Nitin Sir, I m Rajiv…a govt. Since I have been trading only intra day. I am trading in equity.. I have lost around 30 lakhs.. I always played with borrowed mny. I am indisciplined trader, who hardly uses any TA, news n gutbased n emosnl scalper. I am perhaps d worst trader in d world.
I am in huge 10 lakh rs. I have two kids. I want to leave job but have no Many to start trading for leaving. I m stubborn n perhaps addicted to trading…fanatically passionate…I do over trade…sometimes cr.. I have earnest request to u to either meet me personally n solve my problem or guide me n recover my losses…so that I can restart trading for a living.
I see god in you…angel who can take me out of such mess n hardship. I m a gazetted officer…I am even ready to quit job.. I was just writing this for an article: Scared money is when your positions are big enough to cause your heart take over the decision making from your brains.
So everything said and done, the lesser capital you risk on a single trade, the higher the chance of profiting from it. I read the interview with Joby.
Once my mentor told me that If I earned money in the stock market by wrong methods, I will loose it one day surely. Trading in the market is just like driving. If I drive a car without learning it, it will definitely make accident. The same is with the market.
We all come here in the market to make money without learning. It is most important to learn the market. There are different methods, its upto us which method we adopt. Stock market is just like going in war.
A soldier with Rifles, knives, martial arts has surely edge above another soldier equipped with Rifle only. So we must have plan before trading. A Plan what to do when the price go against us, in favour of us. One thing, if after taking the trade, we have to ask some one what to do, I request forget trading rightnow and learn first. Even after learning we may make mistakes but chances are less.
Money Management if very necessary in trading. But we should make sure that we will never add any money to the gambling account. I personally prefer long term Investment as I dont have time for trading. Learnig to know profitable entry and exit ponts.
I have been trading from last 2 months , i only trade nifty option index when the markets are in positive side i mean i only buy nifty call options. Even the greatest breakouts have reversals. Imagine about a down trending market for a week. NITIN THEIR ARE SO MANY PEOPLE WINNING 60 DAY CHALLENGE BUT INTERVIEW OF ONLY FEW IS POSTED. BECAUSE WHEN YOU LOSE MONEY IN STOCKS IS VERY HARD TO GET BACK BUT WHEN YOU READ THE SUCCESS STORIES YOU FEEL LIKE DOING SOMETHING..
Hi nitin, Joined zerodha only a week back. As an amateur I have experimented with intraday trading in equities but without any success. I have a feeling that the market is rigged by heavyweights. Please suggest a suitable strategy. How difficult it is for a simple graduate without backgound in mathematics to learn the tricks of the trade by studying charts and TA.
Does Zerodha offer a service like Algo trading to investors like me. Suggest you to look at this: Since you are giving Mr. Joby a prestigious title of MARKET WIZARD, and a special place in your hall of fame of most successful traders I can not stop myself of raising few points over the statements made in the above interview.
Theoretically, in writing put, loss is limited to stock going to zero value, but there is no limit to loss in writing call.
He might be a Market wizard and his winning from market might as well run into crores, but writing option in rangebound market after patiently waiting does not seems to be mainly what he does. So why should stated method of Wizard of Market be so insubstantial? Open an Account Updates-Latest at Zerodha Pi Beta Updates Why Zerodha? Zerodha Associate Program Zerodha in News — Headlines Zerodha in News — Quotes. Winners - 60 day challenge. What do you do when not trading?
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