People have been trading for the longest time. It has evolved through times as we are now trading differently unlike before. There are many great examples like the late Rakesh Jhunjhunwala, who became a billionaire through stock trading.
Well, meet Chennai-based Software Engineer Jegathesan Durairaj, who left his well paying job that paid him a monthly salary of Rs 1 lakh and dabbled into the world of options trading.
The risk paid off quite handsomely for Durairaj. The former techie ended up making a whopping Rs 4crore by selling Bank Nifty options. This inspiring story of Durairaj doesn’t end here.
Son of a mason, he has been working since the age of 13. There was a time when he made just Rs 12/day before he went on to become a software engineer and draw a monthly salary of Rs 1 lakh. But, his life changed after he read Robert Kiyosaki’s ‘Rich Dad Poor Dad’.
Inspired by the book, he chose stock market. Reading a lot of books and attending workshops helped him a lot in the initial phase of trading. He came to the market with Rs 3 lakh and is now sitting with Rs 4 crore by selling options.
Sharing his strategy to The Economic Times, he said, “The first one is short strangle, which is selling out of the money options, and the other one is selling at the money option.”
“I keep upgrading my strategies every three months. My target is simple. I want to get some extra returns. My research is based on controlling my loss rather than looking for a profit,” he added.
Speaking of market crash during Covid lockdowns, Durairaj said he avoids trading when there is too much volatility and less liquidity in the market.
“During my Covid period, I was sitting in my hometown for 8 months and did not do any trading at all,” he concluded.