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Saturday, March 21, 2009

The story of Ashwin purohit:-Another winner in intraday trading in Indian stock markets

Being the owner of a motilal oswal and prabhudhas liladher franchise through my venture capital firm I was looking at my around 120 clients who trades under my firm.In this past weekend i checked the trading details of most of them and surprise,surprise zeroed upon one who makes around 18-25% profit in a month.I glanced through all his transcations to get aware that maybe the next "Nirmal Kotecha" is here.Over the last 6 months he has made more than 27 lakhs in trading from his meagre 15 lakhs at the start.I was so excited about him that immediately I gave him a call to have his interview for sake of my blog readers.Checkout what he has to say:-

1)Ashwin purohit-How did you get into the stock markets?

ans)I realised that if at all I have to succeed in life I would have to do something for which I don't have to depend on anybody. Through a friend of mine I came to know about the stock markets in 2007. It took me almost a year to understand the various nuances of the stock market and it was in 2008 that I actually started trading.

2)What was your first trading/investment experience like?

ans)I invested in midcap companies like praj,cosmo films,sasken,klg systel etc. However,the Rs 100,000 that I invested did not earn me any returns. It was my first investment and I did not know when to sell or the right time to sell my stocks. That learning experience helped me to hone my skills in the stock markets.

3)How much do you make from trading in stocks now?

ans)My turnover for a month is over Rs 5 crore.But my actual investment is only Rs 15lakhs. I make anywhere between 18 to 25 per cent per of this investment per month.It is like I earn 25 to 40 per cent sometimes and lose 12-20 per cent at other times. This takes my average monthly return to 18 to 25 per cent every month of my total investment of Rs 15 lakhs.

4)Could you share your success mantras for my readers?

ans)Read all the advice that you get from various business television channels, newspapers, friends who understand the stock markets but be extremely cautious and disciplined when you act on this advice.Never extend your trading bets beyond your means. I speak to my friends; get investment and trading ideas from you people(he is registered for online trading with me in my vc venture motilal oswal franchise).

5)How would you identify yourself as a stock market player?

ans)I am a short-term trader; I am surely not a long-term investor.

6)Do you trade intra-day?

ans)Well, if my bets appreciate considerably then I take home my profits on the same day.Otherwise,I wait for my investments to bear at least 7 to 8 per cent returns before I actually sell it.Intra-day trading, though, is very risky as most traders tend to burn their fingers trying to time the market. And I have lost quite a bit of money trading intra-day in the cash market, believe me.

7)Are you a FNO votary?

ans)Arun as you know I have deposited 15 lakhs in my motilal account. Using this amount I buy Call Options within my overall limits.Whatever money I have earned till now is only through Option trading.You can do risk-less trading in Options using a small amount.As a safe strategy I never write a Put Option. Put Options are very risky.That way I am a very safe trader. In Puts I can even make 50 per cent a month on my investments; but then I can lose the same amount too. My principle is if I make money I make it; I shouldn't lose money at all.I usually write a Call Option on the Nifty.I am always long (buying first and then selling at a higher price to make profit) on the markets and whenever the market is too overbought I wait for the markets to cool down.

8)How much did you make this month?

Ans)Ask your partner debjyoti and he will give you the answer(laughs).

9)Are you satisfied with my motilal oswal guys?Hope they have been supportive to you?

ans)Honestly speaking It has been great to work with peoples like you and debjyoti.Debjyoti is truly a sweetheart helping me all the time and making sure I make the best use of my trading.Love you guys a lot.

10)You hail from dwarka,a place far from kolkata.So dont you face any kinds of hassles since my firm belong from kolkata?

ans)Arun boss no problem whatsoever.Its as easy as one can get.I get all my contract notes same day through emails.I am in active touch with mosl and you guys.Am very satisfied pal.

You people can have a talk with this debjyoti too-Am not sure whether he would be kind enough to receive your calls but certainly he is one of the best customer service guy that i ever came across.He can be reached at-09830352795........(

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