Published: 06th May 2020
Here's how this 22-year-old from Kerala built Havenspire, the largest online stock trading community
Ritvik Vipin speaks about how he learnt the rules to stock trading on his own, built an empire with this knowedge and set up a platform to spread the love for trading
Ritvik Vipin spent his last two years of school obsessively watching videos on YouTube about stock trading. In 2015, he joined Vellore Institute of Technology to pursue a BTech in Mechanical Engineering, but he remembers feeling like a sheep, “70 per cent of us who take up engineering just do it because we need a degree and we need to appease our parents. I was completely disinterested, so I had a lot of free time on my hands!”
Thanks to VIT’s flexible curriculum, his mornings were completely free. He spent most of this time researching trade online. He set up a Demat account, which allows you to hold financial securities electronically. Out of the ₹7,000 that his parents would send each month, he would use ₹5,000 for trading and scrape by with the rest.
The now 22-year-old co-founder of Havenspire, a platform that teaches stock trading, says, “I was only 18 at the time. I fell prey to all the clickbait videos on YouTube that promised to ‘Never make a loss’ and lost a lot of money. They all promised that if you watch the technical indicators, you would automatically make a profit. But if that were true, we would all be millionaires! Everything fluctuates, so I had to slow down and learn by myself.”
THE NETWORK: The network spans across social media platforms
By his second year, he started to make profits. Halfway through, he had ₹7 lakh in his account, entirely through trading. But he was still not satisfied because of the inconsistency of the results. He explains, “That year, I lost ₹1.2 lakh in a single day. I decided to step back because something was going wrong and I needed to figure it out. I stopped focusing on these indicators and started to analyse the charts and mark the levels according to stock movement.”
Having optimised the process on his own terms, he started to see the results improve constantly. With time, he realised that stock trading is not just about one win after the other, but a matter of hard work. By 2017, he had two screens set up in his hostel room just for trading. When it got too much, he moved off campus and found a place of his own where he devoted an entire room just for trading.
When word got around, friends and acquaintances would visit to learn from him and make profits for themselves. Ritvik says, “I find stock trading extremely exciting. Most of us slave away in colleges to work hectic hours for a job that doesn’t even pay. There is something so novel and thrilling about finding a way to be responsible for your own destiny. And watching people discover that is amazing. That’s why I decided to start teaching trade.”
It was during one of these classes when a close friend, Akash Jayan, suggested setting up a business. In 2018, they set up Havenspire with the idea to teach people the secret behind stock trading. Ritvik recollects, “I would post about what we offered on these Malayalam meme groups on Facebook and Instagram. This is how we first got people to enrol from outside our group.”
Initially, Havenspire charged ₹2,000 for one their classes. The fully online platform slowly grew. Screenshots from students about their daily profits helped get the word out on social media. Now, the batches of students have grown to more than 1,400 members who network with each other through WhatsApp groups, Telegram, discord and other platforms. India’s biggest online society of stock traders was built through the dream to escape the ordinary. And thanks to that, they are reaping extraordinary rewards.