Ever heard of the fact that only five percent from the hundred percent of the stock market participants earn money profitably and consistently from the stock market? If you are trading or learning about the stock market then you must have definitely come across this statement multiple times.
Well, unfortunately, this is true and there are multiple factors to blame and most of which are the habits and knowledge of the participants themselves.
Some of the participants don’t have the proper fundamental knowledge about the stock market and how it works, some don’t know what technical analysis is, some of the participants are not disciplined enough to hold the winning trades and cut the losses short, some are into revenge trading and some don’t even know how to place orders. Now, you can imagine that there are so many aspects of becoming a good trader.
One of the biggest price action traders of the world says you can enter into trades at any point of time in the day without even looking at the charts but if you can maintain your risk to reward ratio then you can get out profitable over a span of time like a month, a quarter or a year.
Now, I agree that these numbers of 95% losers and only 5% winners can be true but, is it always the participant’s fault.
The short answer is yes.
But, this is true only when I am talking about the present times when there are a lot of DIY platforms of trading available. Think of the times when trading was not this accessible, the ratio of winners and losers was even worse. Previously there were only traditional brokers with outdated software and most of the people relied on call and trade services and if you have been into trading then you might already have an idea about why time is an important factor here and you can imagine the hassle of call and trade service. So, it was not always the trader’s fault in the previous times but, the scenario is much more improved nowadays with all of the controls in the traders or participants hand with amazing web platform and software to trade at your ease and still, if you are making the above-mentioned mistakes then it is obviously your fault and you should start working on it to flip the ratio upside down.
Today we will be talking about one of the traders turned stockbroker turned entrepreneur who made the life of a DIY trader easy as a cake by introducing his own engineered software terminal and stockbroking house Fyers which is on a literal note “Fire”
Success Story of Mr. Rakesh Jhunjhunwala
Let us talk about Tejas Khodey, the entrepreneur who made the life of an active trader easy and changed the whole scenario.
Introduction of Tejas Khoday
Tejas Khoday is an entrepreneur and trader famously known for his discount broker self funded venture Fyers with more than 8k happy customers and continuously growing userbase and services. Let us get to the deeper story of how it all started for him?
Tejas completed his formal education in the field of Finance earning a degree in Business administration and Management from Sri Bhagwan Mahaveer Jain College in the year 2010 and then moving on to Indian School of Business and Finance earning a degree in PGDF-Finance in the year 2011 after which he went the CFA institute but decided to drop out as the teachings were not applicable in the practical and real scenarios of the world.
After completing his education in 2011 he started his career as the customer support guy in Zerodha while the company was at its startup phase. According to his linked in profile, his key takeaways from the company was
– How to bet against pissed-off people.
– How to do a googly on the TT table.
– How to raise stakes in a poker game & make small guys fold.
– How to punch buy/sell orders like a pro.
– How to manage risks of the trading system.
– How to drive more effectively in the peak hours of traffic.
and I am sure the last point mentioned must have helped him a lot in his Fyers buildup.
Moving on to a freelance career in the field of Portfolio management he worked as a freelance investment advisor for almost around two years and after the 2008 crisis the markets were already on a rally so, the career did well for him and paid off the investors too.
In 2012, Tejas went on to join Futures first info services PVT ltd. as a professional derivatives trader mostly commodities like natural gas and crude oil making big money by trading high volumes intraday and positional too. His job profile also included weather forecasting as the commodity prices vary from the weather being too much dependent also keeping knowledge of geopolitical changes which also affected the prices of different commodities.
While being a high volume and high-frequency trader he faced too many challenges and decided to build his own platform to trade stocks and other commodities as the process was challenging for others too which gave birth to the creation and concept behind Fyers.
In the year 2014, Tejas laid the foundation of his first entrepreneurial venture named Fyers which was founded with the motive of making the life of a trader easy, keeping the costs low like the brokerage etcetera. He went on to add revolutionary technologies to the platform for the benefit of the ever-growing userbase of DIY traders with 90k+ users trading on the platform every day.
The motto behind the platform in his own words is “we’re continuing to solve the problems faced by millions of investors in India by empowering them with the most ideal investment platforms to help grow their hard-earned money”.
Conclusion
One thing I have learned after writing about many influential people is that it is not always the money that drives your entrepreneurial mind but, always the challenges that you faced and you want it solved for others. This is what happened in Tejas’s case too he had to face so many challenges and impractical theories that he wanted to do something practical which actually helped people in reality, not in theories.
