In the realm of the stock market, Mr. Tejas Khode, the young and accomplished Founder and CEO of Fyers, is a true inspiration. With his multitude of achievements at such a tender age, he exemplifies that age is merely a number when it comes to success. Mr. Khode’s immense knowledge and insights have led to a vast community of 7 lakh individuals actively participating in stock market investments and trading under his guidance.
However, the stock market in India often faces misconceptions. Many people view it as a form of gambling, a risky endeavor not worth pursuing. Mr. Khode acknowledges that the stock market can indeed be akin to gambling if approached without proper research and a long-term investment perspective. The key distinction between gambling and investing lies in understanding the nuances of the market and exercising patience.
The advent of remote work during the pandemic saw a surge in individuals entering the stock market without adequate understanding. This sudden influx led to impulsive investments and hasty exits during market fluctuations, akin to gambling practices. Mr. Khode urges against such behavior, emphasizing the importance of research and waiting for favorable outcomes.
In the dynamic world of the stock market, Mr. Tejas Khode, a visionary in his early 30s, has carved a remarkable path. His perception of investing in stocks resonates with the essence of taking ownership in a company. By purchasing shares, investors align themselves with the company’s growth and success, making the stock market an accessible avenue to participate in the corporate landscape.
Mr. Khode highlights the significance of different time horizons in the market. Investors with diverse goals, ranging from short-term gains based on company earnings to long-term visionaries foreseeing substantial progress over the next five years, come together to create market liquidity and opportunities.
Looking into Mr. Khode’s personal journey, we discover a tale of resilience and determination. Tragedy struck during his childhood when he lost his parents. However, his father’s entrepreneurial spirit left an indelible mark on young Tejas. Passionate about economics, he pursued it fervently, abandoning science in school to delve deeper into the intricacies of financial markets.
Following the recession of the 1990s, Mr. Khode’s father faced hardships in the real estate sector, leading to bankruptcy and eventual demise. Raised by his grandmother, aunt, and uncle, Tejas found solace in the world of economics, fueling his aspirations to create a mark of his own.
The journey to becoming the CEO and Founder of Fyers was far from conventional. Facing hurdles of bootstrapping without external funding, Mr. Khode and his team embarked on a mission to revolutionize the stock market landscape. With determination and a passion for empowering people to make informed investment decisions, they steadily built a community of over 7 lakh individuals associated with Fyers.
His early interest in understanding floating interest rates led him to pursue commerce and economics, hoping to comprehend the complexities of financial markets. A chance encounter with his best friend’s father, an avid stock market trader, sparked the flame of fascination for the stock market in young Tejas.
In 2006, armed with borrowed funds and guided by his friend’s father, Tejas entered the stock market and experienced initial success during the bullish phase. The ease of making profits tempted him to consider borrowing more money for further investments. However, a cruel twist of fate awaited him in 2008 when the global financial crisis struck, causing significant losses in the market.
Tragically, the same uncle who had inspired Tejas to embark on this journey lost everything during the crisis. The stress and heartache proved too much, leading to his untimely demise. Witnessing such profound loss did not deter Tejas, and instead, it fueled his curiosity to understand the reasons behind the market crash.
Determined to learn and grow, Tejas dived deeper into the intricacies of the stock market, seeking to comprehend the fundamental reasons for the crash. His thirst for knowledge remained undeterred despite the challenging circumstances, and he emerged from this tumultuous period with a newfound determination to master the art of investing.
His journey into the world of technical analysis began with a realization that fundamental analysis alone might not be sufficient in the unpredictable stock market. He understood that while fundamentals guide the choice of companies to invest in, technical analysis provides insights into the opportune moments to buy, sell, and set stop-losses. This realization came after a tumultuous experience during the 2008 financial crisis, which shattered conventional beliefs about market behavior.
To enhance his understanding of technical analysis, Tejas delved into books and sought out knowledge from various sources. However, during that time, there was a lack of readily available blogs and educational material on the subject. His profound interest in the markets led him to become a professional trader in a brokerage firm and later at Futures First, a prop trading firm.
His time at the brokerage firm offered invaluable insights into retail traders’ psychology and trading patterns, enabling him to understand their motivations and strategies better. He witnessed how traders behaved on expiry days and different market scenarios, deepening his grasp of market dynamics.
As a prop trader at Futures First, Tejas took on the challenging task of trading natural gas and crude oil on NYMEX. Despite not handling a large fund initially, the firm provided flexible limits based on his performance. This approach allowed him to learn from both profits and losses, emphasizing the importance of embracing losses as valuable learning experiences.
When it comes to trading in the stock market, Mr. Tejas Khode emphasizes that learning to take losses is a crucial aspect of becoming a successful trader. He has observed many retail traders making blunders, especially on expiry days when they buy options deep out of the money. This risky behavior is akin to gambling and rarely leads to profitable outcomes. Mr. Khode advises against such speculative practices and encourages traders to adopt a disciplined approach.
Regarding option strategies, he acknowledges that the term “strategy” may sound intimidating to new traders. However, he reassures that options strategies can be simple and effective when applied correctly. Strategies play a vital role in managing risk and defining potential losses, which is crucial for any trader’s success. Instead of leaving positions open without defined risk, employing strategies helps traders to limit losses and protect capital.
Mr. Khode also shares three qualities of professional and profitable traders on his platform. Firstly, they use stop losses effectively to manage risk. Secondly, they adopt a disciplined approach and stick to their trading plans. And finally, they have a clear understanding of money management principles, recognizing the importance of preserving capital and avoiding the temptation of reckless trading.
Mr. Tejas Khode’s journey from being a trader to establishing Fyers, a brokerage firm, was driven by a deep understanding of the challenges faced by retail traders. His experiences at a brokerage firm and as a professional trader opened his eyes to the deficiencies in existing platforms and the lack of attention retail traders received. Fueled by the desire to bridge this gap, Mr. Khode, along with a young team, applied for a license from NSE to start their own brokerage firm.
The process of getting the license was daunting, and they had to be patient for a year before finally receiving the license. However, their vision was crystal clear: to create a platform that would cater to retail traders and provide them with the tools and support they needed to trade effectively.
Despite facing challenges in securing external funding from venture capitalists, Mr. Khode and his team were determined to make their vision a reality. They decided to bootstrap and arranged funding from other sources to kickstart the company. This “do or die” situation further fueled their determination to succeed.
The target audience they chose, retail traders, was a challenging one, as many brokerages were neglecting their needs. Recognizing the importance of empowering and supporting retail traders, Fyers embarked on a mission to provide a robust trading platform and exceptional customer services.
Despite facing funding challenges, he decided to bootstrap the venture and created a trader-centric platform by seeking feedback and insights from experienced traders. Today, Fyers boasts three lakh customers, 300 employees, and three offices in India. The company has been profitable for the past three years, showcasing its dedication to delivering excellence.
Looking ahead, Mr. Khode envisions expanding the market and increasing awareness about trading and investing. He aims to attract not just traders but also investors to participate actively in the financial markets. With a qualified design and UI team, Fyers is dedicated to delivering an unparalleled user experience. Taking inspiration from Apple’s focus on detail, they are working on a new mobile app that emphasizes simplicity and ease of use, catering to traders and investors of all levels.
Financial education is indeed a crucial aspect that is often neglected in traditional schooling systems. Many people are not taught about money management, investments, or the stock market during their academic journey. This lack of financial education can lead to a significant knowledge gap when individuals start earning and need to manage their money effectively.
Tejas Khode rightly emphasizes the need to introduce financial education as a compulsory subject in India’s schools and colleges. By teaching students about money, investments, and business fundamentals, we can create a more financially literate population. Understanding the basics of compounding, interest rates, and stock markets is essential for individuals to make informed financial decisions and grow their wealth over time.
Despite holding degrees in finance, Tejas points out that even in higher education, such as MBA finance, stock market education is often missing. This gap indicates the need for better integration of real-world financial concepts into academic curricula.
His efforts to bring financial education to the masses through the Fyers platform and his advocacy for spreading awareness about trading and investing are commendable. By sharing his experiences and knowledge, he aims to empower more individuals to take control of their finances and achieve financial success.
Due to lack of knowledge and understanding, his father incurred substantial losses, even to the point of going into negative territory. The trading methods he employed were haphazard, lacking any structured approach, relying on random decisions and impulsive actions.
Witnessing his father’s struggles, Tejas was determined to learn about trading in a more informed and organized manner. Initially facing financial constraints to enroll in costly institutes, he turned to the internet for resources and self-education. Taking advantage of the vast amount of online content available, he delved into various trading concepts, learning from multiple sources and honing his skills as a trader.
Tejas highlights the importance of mentorship and guidance, which he lacked during his learning journey. He emphasizes that despite not having a mentor, he took his learning seriously and became self-sufficient in understanding the complexities of the stock market. His passion for teaching and sharing knowledge led him to create content on finance, aiming to help others avoid the mistakes made by his father and many others in India who enter the market without adequate knowledge.
Through his platform and content, he ensures that traders receive the right education and knowledge to make informed decisions in the market. His goal is to empower individuals and eliminate the notion of trading without learning, urging everyone to gain essential skills and insights before venturing into the stock market.
The 30-Day Challenge by Fyers is a unique initiative aimed at promoting disciplined trading and risk management among traders. The challenge invites traders to participate and trade profitably for 30 consecutive days. If a trader successfully accomplishes this goal, Fyers returns the entire brokerage fee.
The challenge serves as a motivation for traders to focus on consistent profitability rather than chasing quick gains or taking undue risks. By setting a specific time frame and rewarding profitable trading, Fyers encourages traders to adopt a disciplined approach and adhere to risk management principles.
Participants of the 30-Day Challenge are required to maintain their trading activities with a focus on capital protection. Rather than seeking excessive profits or relying on gambling-like tactics, the challenge urges traders to trade responsibly and employ stop losses to manage potential losses.
Fyers aims to create a community of informed and disciplined traders who prioritize capital preservation and consistent profitability. By offering the 30-Day Challenge, the platform fosters a sense of responsibility and accountability among traders.
Through this initiative, Fyers seeks to educate traders about the importance of risk management, trading strategies, and the significance of maintaining a profitable trading track record. It emphasizes that trading is not a gamble but a skill that can be mastered with knowledge, discipline, and a systematic approach.
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