10th Std Pass, Market Wizard from Thrissur

May 22, 2014

Traders,

After putting up the first five interviews of some of our top traders and winners of the Zerodha 60 day Challenge, I was asked many times if engineers have better odds to win at trading, as each one of the five featured until now came from a similar background. The search to break the pattern amongst our winners ended at Joby, a 10th standard pass-out from a small town in Kerala with no access to fancy tools or resources, who has still managed to be up over 300% from active F&O trading in the last couple of years trading at Zerodha. His winnings from the market runs into crores over the many years trading F&O actively. I had to use a translator as the only language he speaks is Malayalam. Following is my interaction with Joby.

Name: Joby      Age: 47 Years

joby

Joby

Running a Bakery to Trading full time. How did that happen?

I was running my own Bakery in the early 1990′s and had people visiting the shop regularly after trading at the Cochin Stock Exchange. The bug bit me and without any knowledge of capital markets, I quit my bakery business to become a full time equity trader. Until 2000, my trading was only in equities and I started trading F&O when it was introduced in 2001. I am thankful to God that the risk I took by shutting down my bakery worked out well for me.

How much money did you start off with?

It all started with just around Rs 500 back when I started and today whatever I have made is all out of that Rs 500. Over a period of 22 years, I have also taken profits out of trading and invested into other avenues, and that trade also has worked out very well.

Investment into other avenues? Why not into stocks?

I have always traded the markets, but all my investments till date have never been in stocks. 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? It is very easy to say that you will hold for long term, but such scenarios where there is indecision or time taken can be detrimental to the outcome of your trade.

What do you trade on, mostly? Are they intraday or positional?

I have mostly been trading options from when it was introduced on NSE in 2000, and almost all of it shorting/writing options. I usually hold the positions overnight and sometimes take intraday trades as well.

Why mostly option writing?

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. The opportunity to profit from  trading options prior to 2010 was much higher.

What is your risk management policy/money management rule?

I haven’t ever had any big losses from the time I started trading and you will be surprised to know that I don’t really have a risk management policy as such. I don’t have fixed stop losses, I average my position when in loss, I go against the trend, break many rules that a lot of analysts keep shouting out on TV asking to follow. 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.

Also, from when I started, I have made sure that only a small portion (1 to 3%) of my net-worth is used for trading, I guess that is the money management rule that you are asking me for.

So what about the trading strategy, how do you enter or exit?

It is based on support and resistance, I wait with a lot  of patience for market to show a range and when it displays the same, I start writing options which will benefit if the market stays within the range. 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. From the time India VIX  was launched in 2009, I also keep a tab on it to decide how aggressive I should be writing options, the best times being when value of VIX is relatively higher.

When convinced that the range is getting broken,  I will start taking single sided trades either long or short and these could sometimes be plain long options or buying/selling futures. I also as a rule completely avoid writing naked put options.

How do you determine this support and resistance in charts?

I don’ t follow any technical analysis or look at any charts. To be very honest I don’t even know how to use computers properly. But all the years I have been trading actively, I have spent countless hours looking at the terminal on how Nifty prices move. If the market is trading, I am looking at the screen if I am in a trade or not. I have my own unique way of calculating the resistance and support just by watching and analyzing the price and volume. I don’t need to look at the chart for this, just a market depth window (Snap quote window) is enough.

Do you know that what you are saying sounds like “Tape Reading or Reading the Tape“?

As I said earlier, have studied only till 10th, don’t browse the internet, have never followed tips, don’t believe in stop losses, I am able to look at the symptoms of Nifty and predict if it will be in a range or breakout.

No stop loss? So how do you exit when in profits or losses?

It is based on how I feel about my trade with respect to how the markets are moving. I don’t really have preset exit points and there have been many times where I have averaged when the price has gone against my trade. I will book a loss or profit based on my conviction of the trade.

What do you do when not trading?

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.

It is a special achievement to be up so much trading actively on F&O, any plans to scale up in the future?

I  love what I am doing presently which is trading but not very aggressively, and wish to continue the same. 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 quizzed Joby for quite a while trying to figure out on how he determines the range, support and resistance and if there was any method to it. I was also astonished that he remembered the exact expiry settlement prices for almost the last 10 years. I could only conclude that he has a special skillset and importantly also the discipline to go along with it. For all the naysayers of “Tape Reading”, Joby proves it can be done and I think a critical element to his success is also the fact that only a small portion of his networth is used for trading, that in itself is his risk/money management rule.

Wishing Joby all the best,

If you haven’t taken up the 60 day challenge yet, visit here to know more and get started.
Nithin Kamath

CEO @ Zerodha and partnering startups through Rainmatter to help grow and improve the capital market ecosystem in India. Love playing poker, basketball, and guitar. “You don't have to be a hero to accomplish great things---to compete. You can just be an ordinary chap, sufficiently motivated to reach challenging goals.” - Edmund Hillary

114 comments

  1. Rahul Rijhwani says:

    excellent Joby sir! congrats on becoming the winner.

  2. jojutvjoju says:

    I wish you sucess as you deserve it

  3. KAISER says:

    Congrats Joby…

    ” I love what I am doing presently which is trading but not very aggressively, and wish to continue the same. ”

    This shows the Passion and Commitment towards Trading and finally the secrect of his success…

  4. Lalu Nair says:

    Congrats Joby ! That was indeed inspiring 🙂

  5. Guru says:

    Inspirational Joby, @Nithin thanks for sharing.

  6. Sekhar Sivapuram says:

    Hello Mr. Joby, Congrats…

  7. Minab says:

    Congrats Joby..

  8. aksaha says:

    Congrats joby, it is really very difficult to believe !

  9. Congrats Mr. Joby !!!
    “as a rule, completely avoid writing naked put options” can be the best advice for any individual trader, trading his personal account.

  10. Aniroop says:

    You a super hero Joby… with special powers… 🙂

  11. ramachandran says:

    congrats Mr.Joby for sharing the day trading strategy

  12. Manish says:

    Shows the great passion and dedication for the market. Hats off !! Congratulations 🙂

  13. Manish says:

    “To be very honest I don’t even know how to use computers properly. But all the years I have been trading actively, I have spent countless hours looking at the terminal on how Nifty prices move.” This shows the great passion and dedication for the market. Hats Off !! Congratulations 🙂

  14. RV1000 says:

    Good to hear!! Congrats Joby!!

    Do we have Tape reading facility on Zerodha?

  15. Praveen says:

    joby must be an expert professional trader just by looking the market depth window

  16. sharafudheen says:

    Joby contact number plsss

  17. Santhosh says:

    Congrats Joby….. its really inspirational…[email protected] Nitin Kamath thanks for sharing

  18. Upendra says:

    Congratulations Joby.. You are a real trader then, without using any other tool, you made fortune trading in the markets.

  19. Parmesh Kadam says:

    congrats Joby

  20. Vivek L says:

    A real inspiring entrepreneur, Congrats Sir…….

  21. kaleemullah says:

    Hello sir
    Congratulations Joby.. You are a real trader then, without using any other tool, you made fortune trading in the markets.how is it possible?

  22. gud.mhbagde says:

    Now that is 22 years of hardcore trading experience speaking….
    Awesssssssome……Congrats Mr. Joby….

  23. path breaking trader. i also personnally think that intution is the mother of all knowledge ,be it trading also.

  24. Rajiv says:

    Congrats joby and a brave decision in quoting bakery business and to start as a full time trader..keep rocking

  25. sujith says:

    congrats also contact no? [email protected] pl;ease share some ideas

  26. alex says:

    excellent trading ideas which require a high level of patience and competence. My congrats.contact no. please.

  27. girishhu1 says:

    incredible, to be successful without using any help like computer chart etc … simply incredible. nature gifted talent for trading that too in options trading. which is supposed to be most skilled one. congrats joby

  28. Karuna says:

    can u explain 1-3% of networth please? by networth u meant ur trading capital or u meant the actual word networth?

  29. Madan says:

    Hearty Congrats Joby!! You are a living example of the phrase – ‘There is no substitute to experience’. Loved your interview..this is an absolute stunner.Thanks a lot for sharing.

  30. machonitti says:

    Congratulations Joby. Thank you for sharing your views. Simple and to the point. Adipoli !!

  31. ksjoseph says:

    Hello Nithin,

    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.

    Thanking You,

    With Regards,

    K.S.Joseph
    94972-82865

    • Joseph this would be possible only if the 5 accounts belong to your immediate family. Otherwise at Zerodha we don’t allow one person to trade on behalf of another through any of our terminals unless the person managing has a portfolio management license from SEBI. If they are your family accounts, yeah you can get registered with us as an Authorized person and get dealer terminals. Registering as AP has one time cost of around 10k to 20k depending on how many exchanges, and monthly dealer rental charges of Rs 250/segment/exchange.

  32. Murtaza Telya says:

    Thank you for sharing these success stories with us Mr. Nithin. Trading as a profession is surrounded by so much negativity and pessimism, everybody just keeps saying that traders can’t make it or this profession is too tough or the market is rigged by institutions and big banks. These interviews are very encouraging and uplifting.

  33. Rahul says:

    what is the tape reading ? How do you do it?

    • Tape reading is essentially just looking at the stock price and the market depth window (the window in which you can see best 5 buy or sells (F5 button on the terminal) and determining when to buy/sell.

  34. chintamani says:

    Hi Joby

    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….It is what one likes and then what one pursues where nature reveals its own secrets to “ANYBODY” and Joby is that example for us.
    We really need to understand and introspect irrespective of our any backgroung educational,financial interest and whatsoever….”IS THIS WHAT I LIKE?”
    If the answer is “YES”-THEN ANYTHING IS POSSIBLE .

    It is said thatThomas alva edison required 10000 failures(POSTPONED SUCCESS) for the invention of “Electricity”i.e the success was postponed and the secret revealation by the universe required those many passionate attempts for Edison….and the same logic applies to all of us when we see 22 years for joby.

    We see joby today …but he also must have gone through the emotions which perhaps all of us are going ,but the only difference is he kept his study going and made it a habit and this was posiible due to his liking of the game called” trading”..When we strive for KNOWLEDGE ,the road leads us to “WISDOM” I.e “DISCOVERY OF SELF”

    Thanks Nithin and the entire Zerodha team for showing us the UNLOCKED value of passion called JOBY

  35. Abrar says:

    If he cannot handle computers how is he trading through zerodha? by phone?

  36. denish patel says:

    congrats Joby !!!! keep rocking

  37. Kisalay says:

    Truly inspirational real life story. Also, truly gifted to be able to take trades just by looking at the Market Depth window. Just wish I could do it at some point in time 🙂 All the best to Joby…

  38. sabu says:

    hats off Joby sir It is yet again proved that Success wont come easy it is his experience gained him popular and wealthier. I am also interested in options market .is there any article how to trade in F & O..

  39. Kartik Ganesh says:

    Joby epitomizes the psychology of a consistent trader. Way to go Joby! Good luck to you.

    @ Nithin: really appreciate your initiative of interviewing and discussing the strategies of consistent traders. i have read about successful traders like Tom Basso. 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.

  40. Kartik Ganesh says:

    Does Joby short strangle when the market is range bound in his analysis?
    If so, how does he manage risk? Does he quit the position if the loss is around 3% of his net worth?
    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. Total trading portfolio is 3% of networth, per trade exposure would be much lesser.

  41. ALOK1 says:

    A MAN TRULY MADE FOR TRADING . NICE

  42. vipulbhadra says:

    Nithin ….. While you may see this as inspirational story, i see this as promoting bad trading habits.

    I cringed when i read this “don’t really have a risk management policy as such. I don’t have fixed stop losses, I average my position when in loss, I go against the trend, break many rules that a lot of analysts keep shouting out on TV asking to follow. ”

    The trader is trading based on his instincts and without a stop loss or any form of trading plan. While he has developed pure price action reading skills , im afraid others (specially the new-kid-on-the-block) will look upon this as inspiration proof of what they always believed – “Trading doesn’t need any planning, instincts suffice”.

    You sir, might want to put up a big disclaimer against instinctive trading.

    • Vipul, after having interacted with more than 100 consistent winners and over 1000 who have lost, the common theme that I have found across the winners is the low exposure of their networth for trading, like in Joby’s case only 1 to 3% of his liquid networth. 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: “Joby proves it can be done and I think a critical element to his success is also the fact that only a small portion of his networth is used for trading, that in itself is his risk/money management rule.”.

  43. sunil clement says:

    congrats to Joby & thanks to Nithin.

  44. prakash1 says:

    Congrats

  45. sahil says:

    Thats fluke in intraday traders will not get profited but only brokerage firms will get profited. if you want to know tell them to show his full ledger statement.
    this is all marketing they want to motivate you to become traders so that they will get profited everyday whether you get loss doesn’t care….!!!

    • 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.

      • sahil says:

        sir
        if your company cares so much about traders you should keep margin for delivary too, so that traders will get benefited from it instead losing money on that day…

  46. maan says:

    Hi Nitin….
    I have just opened account with your brokerage . One thing which is missing is taking leveraged position in equity beyond intraday. Like I have account with ICICI DIRECT and they provide T+5 margin system i.e. we can trade and bring fund in 5 days. They charge nominal interest for carry forwarding equity position.
    I wish Zerodha could enable such feature .
    thanks n regard
    Maan

  47. Aftab says:

    Yes Sir it will be greatfull if you allow us taking leveraged position in equity…!!

  48. shravani says:

    i fully agreed with maan opinion.. see that we can carry forward our margin position for at least next 2 trading session

  49. Harshit says:

    Hello Mr. Joby, since you are into writing options and mainly calls, I would like to know from you how have you fared in the last few months when Nifty has shot up from 6000 levels to 7600+.

  50. pradeep says:

    Congrats and well done joby sir.

    i need your blessings.

  51. Tejes says:

    Liked all the comments a lot of information. Even i won the 60 day challenge in commodities recently & almost 5K brokerage was returned to me which i really loved. Zerodha Rocks!!! I love the brokerage.

  52. sivadevapatla says:

    Hi Nithin,

    why does zerodha not providing expert recommendations???????

  53. Vikas says:

    Keep Sharing Z’s disciplined clients story – really inspiring and learning.

    What I think important for traders

    1) Dhan,Dhyan,Dhiraj ( Money, Observation analysis, Patience )
    2) Discipline
    3) Market is there for whole life whether you are there or not, so preserver your capital and trade intelligently
    4) according to me FII ( Financial Intruder in India – Beware from them – they have huge money to crush retailers)

  54. O P SINGH says:

    Dear Nitin Ji,
    Namaste !
    I am a new member of ZERODHA,your unique endeavour to support & help persons of this market.
    You are doing an unparalleled work with respect to brokerage !
    Salute to you !!
    An important & humble request to you.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 60-days challenge section so that I could get some valuable guidance from them regarding how to trade or go in this market ?
    Regards
    O.P.SINGH
    [email protected]
    Mob. 9830070098

  55. Manjunath B G says:

    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. do me favour.

    Thanks & Regards,
    Manjunath

  56. rajen says:

    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.

  57. Milan says:

    Joby is born for trading… We can say he is bettr than RJ because … He fairly share his success story…… He is one of world’s best traders. I have read he made money from option writing and short selling….. As i am a new trader……Can anyone explain me what is short selling ? Is it possible for nifty index? … I have read a lot about it. Like imvestopedia.com etc. 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….. Thanks in advance

  58. Umesh says:

    Impressive success story ..I think the very first reason for his success his passion for trading and discipline to follow his set rules. I wish I could become 20% of him :))

  59. santhosh says:

    Congrats joby

  60. sandeep says:

    hello nithin sir,
    i am interested to open an account in zerodha,
    as i saw the advance trading platform pi in your site is available for trading?

  61. RM2445 says:

    JOBY,
    Congratulation you archived your target,
    hope we all of them to be achieved target as soon as possible

  62. Rajiv Ranjan says:

    Hello Nitin Sir,
    I m Rajiv…a govt.officer from Patna.
    Since 2005 I have been trading only intra day. I am trading in equity..commodity…n options..both stock n index.
    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. Debt…I m 43. 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 100 cr..per month volume in commodity…
    I described my demerits…only merit in me that I have animal instinct to predict market n nifty…but my method is wrong..hi leverage…over trade…killed me all d tum…even after earning profit I want to b in d market exposed all d tym…
    I live n dye for trading…..
    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..if you give me opportunity to work with team Zerodha.
    U r great…hope u can solve my problem…n believe me 7/10 calls of mine r Right.
    Regards& Thanks
    Rajiv Ranjan
    Patna
    9525588216
    rajmedia3 @gmail.com
    Labour Superintendent
    Muzafferpur..Bihar

    • Hi Rajiv,

      I was just writing this for an article:
      I can tell with experience of interacting with thousands of traders in the last 17 years that the real difference that sets a consistent winning trader apart from those who don’t is the way he/she manages risk. There is a saying in the market that, “it is tough to profit from scared money”. 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’d tell you to take it easy, if you want to take trading as a career, you need to be able to stay profitable. If you don’t have that track record, it will be tough to convince others to take a bet on you.

  63. Hardik Patel says:

    hello Joby ..

    see after reading joby interview i conclude that either he had lots of money to lose or nothing to lose ……That’s great

    in both of above cases he may take huge risk..

    but any way i salute

  64. S Tomer says:

    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. But adopt only that method in which we don’t feel fear or greed. 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. Since we all have gambling instinct, we can open three accounts, one investment, 2nd trading & 3rd for gambling. But we should make sure that we will never add any money to the gambling account. Thanks

    • Raghav says:

      Perfectly said Mr.Tomer. That’s why Iam learning TA ,FA for the last couple of months and experimenting with very little amount. I personally prefer long term Investment as I dont have time for trading.Learnig to know profitable entry and exit ponts.

  65. Shaffi says:

    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 .i stay away when the market is negative , is it right strategy to trade.need advice… And i love zerodha kite platform its cool….

    • Nirmal says:

      Hi Shaffi.
      I believe you are buying calls based on your gut feeling or predictions [might be positive news in market channels/social platforms or friends]. Even the greatest breakouts have reversals.which means you should be able adapt according to the market.Imagine about a down trending market for a week. You should be looking to short the indices [futures/puts].

      Plan your trade and trade the plan

  66. Faruq says:

    NITIN THEIR ARE SO MANY PEOPLE WINNING 60 DAY CHALLENGE BUT INTERVIEW OF ONLY FEW IS POSTED . IT IS VERY VERY VERY MOTIVATING TO READ THE SUCCESS OF OTHER PEOPLE AND TO KNOW THEIR THOUGHT PROCESS WHICH ALSO BOOSTS YOUR OWN DESIRE TO SUCCEED . 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 ..YOU WERE TRADER ONCE HOPE YOU UNDERSTAND AND KEEP ON POSTING SUCCESS STORIES ABOUT PEOPLE TO MOTIVATE OTHERS TO INVEST .

  67. Madhuri says:

    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.

  68. Guruprasad Maiti says:

    Dear Nithin,

    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.

    1) He as a rule completely avoid writing naked put option. being mainly an option writer then he writes naked call option. but how does writing call option has advantage over writing put, especially when market is rangebound? Theoretically, in writing put, loss is limited to stock going to zero value, but there is no limit to loss in writing call. referring short strangle(naked put writing involved here braking his own rule) as hedging is inconsistent with his intelligence of being able to recall nifty closing price for last 10 years.

    2)More importantly, how does his profit run into crores if he has made everything out of 500 hundred rupees starting capital? mathematically 100% return on his trading capital every year in last 22 years turns it into 105 crores only, but considering he only uses 1-3% of his net worth (he takes profit out of trading to invest in other business) it runs into mathematical impossibility with only 100% return every year. But then how is it possible to make more than 100% return every year writing option in rangebound market (possible out of range otm options ) where nifty has rarely been so in monthly basis from the year 2000, in fact it has mostly been sharp bull or bear market.

    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? this puts a dubious question mark on intention of Zerodha by putting his interview without properly reviewing it.

    Regards,

  69. Ashok says:

    Today i took a look at the snap quote and i find it very fascinating. I checked ATM call and put option strike price’s snap quote (should compare both) and it clearly predicts the market. If i see a green candle it clearly reflects the snap quote and vice versa. It will be great if you give me more tips regarding this.

  70. RAJESH.R says:

    congrats joby.

  71. Ravindra Nagare says:

    Namste sir,
    I want writing option nifty index, how much margin is required for one lot call put of nifty

  72. Ravindra Nagare says:

    How analyze market direction from price and volume

  73. Pushkar says:

    Hello Nitin,
    Really appreciate your energy and time you put into answering such a lot of queries.

    I want to know how can we get level 3 exchange data (upto 20 bid ask). I guess algos and bigger players use this data and gain superiority over retail and small traders and also cause a lot of whipsaws and stoploss hits. It would be great if zerodha introduces high end tools like higher market depth, volume profile, automatic pattern recognition, advanced technical, fundamental scanners and customisable indicators/strategies etc at a reasonable/ cost so that retail can improve their odds and probably win against the big boys.

    Thanks in advance for your timely response and for your unending commitment.

    • Zerodha Social says:

      Pushkar, we are working on making 20 bid and asks available to our clients. As for the other tools, will see what we can do.

  74. Yashoda mungi says:

    Sir, my 60 day challenge brokerage refund not given.
    Daily saying that you will get refund by end of the day.
    YQ7996.
    Token number 477094
    When will i get refund money?

  75. Yashoda mungi says:

    Thank you received refund today

  76. PRANAV says:

    Sir,
    I am planning to day trade( in Equities only)for a living.i want to make at least 25,000 Rs/ Month through trading. How much capital do I need to start trading for a living to earn 25,000Rs per month? And I don’t have previous experience how can I prepare for that?How many months of Experience do I need to earn 25000Rs/ month with how much capital?

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