Question 1: Are you really interested in understanding how the world around

you works ?
Question 2: Have you ever tried or been able to deduce correctly (or
approximately correctly) a real world
physical/mathematical/chemical/biological mechanism (no matter how trivial)
based on your observations and some basic facts alone ?
Question 3: Do you just want to get into IIT because all your friends are trying
for it / your parents/ relatives kind of directly/pressurized you into it ?
Question 4: How much time do you have to prepare for the IIT JEE exam ?
That would determine a lot how you should prepare for the exam.

If your answer is "Yes", "Yes", "No" and "about 2 years or more" respectively
- Read on
My answer is based on above assumptions.

Short version:
Be confident - get rid of any kinds of fear - especially the fear of failing in IITJEE.
Infact the first thing you should do is think about all possible things you can
do if you failed to clear IIT-JEE or (any other engineering entrance exams) and
then find a bottom level of satisfaction - that would give you an idea of how
low can you go , have backup plans for it and hence get away with fear of
failing
Now look at the top. Dream and aim at getting AIR-1 in IIT-JEE (or any other
exam)
Time is precious - very very precious. Whatever you spend it on - get
maximum out of it. (applies to having fun, applies to studying, applies to
everything else in life too)
Plan your time-table [entire year's] for covering up as much topics/chapters
as possible before actual IIT-JEE (your time-table should include margin for
practicing test papers and time not spent at studying (this include commute, holiday, sick etc))
Strictly track your progress against your time-table. Make adjustments as
required based on your progress (reduce /increase time to be spend on

certain topics - cut off the topic from 'essential' list if need be etc.)
FOCUS/CONCENTRATE ON TOPICS YOU LEARN. [This could be from books/
coaching teachers/ friends anybody] - that's one very very crucial thing for
your success.
Spend quality time when studying. 1 hour of fully focused clear minded study
is far better than 6 hours of half minded studying. That means - DO NOT
THINK OF ANYTHING ELSE (except if your house is on fire ;) - just kidding (I
mean unless it's really really urgent don't distract your brain)) during that 1
hour. That also includes having a bottle of water and other useful (books,
pencil, eraser, sharpner, notebooks) stuff close to you. Keep your phone
atleast at a walking distance. If you are using internet/computer to augment
your learning - ensure you do that. Don't wander off on facebook/quora/9gag
other stuff 'during study time' - If you plan your time-table well, you would
get time for everything you like to do.
Then practice problems based on what you really learned and re-read/re-learn
if you find mistakes in your understanding of the subject - DO NOT MUG UP
PROBLEM PATTERNS - that's going to really mess up your mind to a level
where you would find it too hard to come back from - you probably won't be
left with enough time to understand the topic later.
Practice mock test papers as you near the actual exam.
Find a reliable source of your knowledge - Books are always there and best
out there. Coaching classes will help too (but never get into the impression
that just by joining a coaching class and following through their course would
get you passed. YOUR OWN EFFORT AND SKILLS are the biggest thing that
would really matter in the actual exam)
Have fun when you are learning. Have time for relaxation, doing random fun
stuff too. That means you don't need to sacrifice any of the things you like
doing. Just control the amount of time you spend on it (that includes time
spent in recalling and relishing a thing you did - say for example played
cricket for 1 hour and spent 2 hours discussing it later on - that's 3 hours of
cricket).
Machines don't clear entrance exams. Humans do.

Long Version:

I will share my personal experience of how I prepared for IIT-JEE and cleared it

(2005) - without coaching. It's too long and hope you bear with me.

* I wasn't aware of what IIT and how important/good it is until I was nearing
my 10th standard (I was in Andhra Pradesh board at Vizag) and my father
said me I should prepare for IIT JEE - (as I was good in analytically and
logically thinking and solving stuff - real/imaginary/textbook and I had that
childish dream of being a scientist)
* Then I started to figure out (this is pre-Google era (2002). Internet was
luxury and yahoo /ask was the popular search engines - no help from there)
with my teachers and friends and found that people join Coaching classes to
prepare for it and it's like some prestigious/touch journey or something like
that.
* Then after my 10th board exams, during holidays I went to many of
coaching classes and enquired about course details/fees etc. Enquired with
my friends about what they teach/how they teach and all.
* At this point I was still not aware of how good or important IIT is - I just saw
it as yet another engineering college (there are hordes of engineering college
in Vizag (as well as entire Andhra pradesh)

* 4 things pissed me off after all the enquiry

1. Overwhelming fees per subject per year
2. Unbelievably tiring and extended schedule (most (> 50%) of school friends
got up into Coaching at 5-6 in the morning and left at night 8-8:30)
3. People still failed and by large numbers. The chances of one clearing was
too low.
4. Somebody else controlling how / what and when should I learn a stuff. And
the environment was like very school kind - students were afraid of teachers
in coaching classes - if they make mistake. I am not very rebel kind. I tend to
listen to teachers (even if I don't like what they say) but I would seriously feel
sick of somebody controlling how I should learn a thing.

* Overwhelming fees problem was solved easily - one of the top coaching
institute in AP/Vizag offered me completely free classes for 2 years since I
was school topper and something in some toplist (I don't recall that now) in
the city in 10th board exams

* But points 2-4 were still a big deal for me and I didn't want to get into a
'prison'. So after a fight with my father - I totally gave up on going for IIT-JEE
immediately and instead join a DTP (desktop publishing ) classes during my
summer break - I still love that I did it (thanks to my father - he told me to
learn that atleast and not waste my summer playing around). It's fun learning Photoshop (professionally), Pagemaker etc.

* Then I joined an 'average' Junior college/Intermediate college (that's what

they call 11-12 in AP). This was very modest one with very nominal fee. There
were many other such colleges too but the reason I joined there was another
interesting story - just to be in same place as the one I had crush on for
almost 2 years in school. Although nothing happened on that front - ever. It
just remained a hidden wish.

* So I enjoyed my 11th a lot. It was 8:30 - 12:30 schedule with minimal

homework and stuff. I used to spend rest of day playing / learning random
stuff - I read lots and lots of book mostly fiction and some technical stuff
[other than 11th syllabus books] too / exploring things - especially Internet (I
got a monthly pass for one of cyber cafe in my neighbourhood - that was real
cheap and 1 hour of my day was gone there).

* Also I really enjoyed the 11th books. Maths,Physics, Chemistry - I had good
teachers in Junior college who focussed on teaching the subject. They didn't
focus on formula structure to crack an exam. (I guess perhaps that's one
reason that college wasn't a popular destination for those who want to clear
medical/engineering exams). I liked that. I had my freedom to learn the way I
want to , the amount I want to.

* By end of 11th (just reading and 'understanding' Andhra Pradesh's

Intermediate level books) - I was #5 in most scoring person in Andhra
Pradesh state. That made my teachers very happy too - it was in many many
years - I think since the college's inception - that somebody got so high rank
in that college.

* So around that time during summer break - I happened to go through IIT

Kharagpur's website (and other IIT's site too). That was the first time I
realized how important and valuable IIT is.

* That moment I made up my mind to go for it. Going through coaching

classes was not my cup of tea.

* First thing I did was get the syllabus of IIT-JEE exam. Interestingly IIT-JEE
sticks to it's syllabus in case you didn't notice.

* Then I started asking my friends - luckily I had big number of them

preparing for IIT-JEE at various coaching centers and teachers about the
books that would help me get there. I got loads of suggestions

*** You can't clear IIT-jEE with just reading books - I just ignored this advice.
Actually my father said that's stupid advice and I thank him for motivating
and encouraging me to take risks.
*** Physics: H C Verma, Resnick Halliday, <some monthly magazine I forgot
the name but it was 'Physics for you' I think> , Irodov , NCERT and some more
which I don't recall, Arihant's series
*** Chemistry: OP Aggarwal's books, Arun Bahl's books, Morrison & Boyd
(Organic), J.D. Lee (Inorganic), NCERT, <monthly magazine - Chemistry for
you>, Arihant series

*** Maths: S. Chand (AP board Intermediate 11-12th book), NCERT books,
Tata McGraw Hill, R.S Agarwal or RK Agarwal - I don't recall, <monthly
magazine Maths for you and one more (which personally I found really useful
but I forgot the name. It was from somebody Er. <forgot the name>) >,
Arihant series. Loney's Trigonometry.

* So after about couple of weeks of research into syllabus, possible books and
stuff (I actually went to book stores to look into each of these and other
available books - read few pages of topics I think were interesting and tried to
see which one could grasp my attention really well) I finally settled for
following

National level Test series from Brilliant tutorials (It is reputed and was
cheaper than FIITJEE /Akash and other mock test series in 2003 + they gave
me discount based on 10th /11th mark) - simply to check where would I likely
stand in actual IIT-JEE exams. The usual environment is that 'you can't clear
IIT-JEE without coaching' and I just wanted to feel little safe as I was not
taking any coaching.
Maths: S.Chand (AP board 11-12th syllabus books - its the best book I found
compared to anything else- NCERT ones are nothing before it), Tata McGraw
Hill. Auxiliary books: Monthly magazines Maths for you (MTG publications I
think) and National Maths Olympiad book (I forgot the title -it was from MTG
too)
Physics: H.C Verma, Irodov and Resnick Halliday. Auxiliary books: Interactive
physics from MTG, Physics for you monthly magazines
Chemistry: OP Aggarwal's IIT JEE Chemistry (It was 1 giant book at the time I
bought. Later I think I saw it was split into thinner volumes too) - primarily
for Physical chemistry (but it's organic / inorganic were decent too), Morrison
Boyd , Arun Bahl's for Organic chemistry and J.D Lee for Inorganic chemistry.
As usual Auxiliary books: Chemistry for you monthly magazines
Last 10 years (1992-2002) IIT-JEE's solved papers (mains and screenings) (I
think MTG or Arihant published a book of that - don't exactly recall - except
that my physics teacher in junior college gifted me that on getting 100% in
11th physics board exams :D)

* Now all I need to do was layout a plan and track my progress on prep (I had
slightly less than 1 year to appear for IIT-JEE in 2004 ) (this was summer 2003
- 11th break)

* There were two approaches I figured out:

Understand and practice to a masterly level chapter wise and by the time
exam reaches - I would be left with possibly good enough chapters untouched
Understand as many possible chapters 'very thoroughly' and little practice more like a jack of all trades.
* I went with the 2nd approach for Maths, Physics , Physical and Organic
Chemistry and 1st approach for Inorganic Chemistry (read on to find why)

* I took about a week to analyse the last 10 years of IIT JEE paper topic/chapter wise for each subject and figured out which ones are most
important and how much of those aligned with topics/chapters I felt were
interesting.
* Inorganic chemistry was something I just never got properly (I have kind of
poor memory in recollecting too many facts if I have not experienced those).
So I decided to learn up things which I can logically in it 'only' and rest if I
have time. That included nomenclature rules (of what I forgot - but there is
only one in inorganic I think) :D (you get some small marks/questions on it =
almost for sure)
* So finally - after all the analysis of topic/chapter distribution pattern - (How
much I knew, How much I needed to learn and how much time is left for
exam) - I came up with preparation plan.
* It was a simple but crucial plan
Out of 1 year: 1 month - for time wasted/spent not learning
Maths/Phsyics/Chemistry (could be any reason, out on
vacation/holidaying/falling sick etc.)
2 months x 50% time for practicing test papers "BEFORE" the actual exam
2 months x 50% time for preparing for 12th exams
That left me with 9 months of actual prepartion time for IIT JEE.
And I went on to divide time I should be spending on each of the chapter.
Studying all 3 subjects on same day was not feasible I felt - I wouldn't be
spending sufficient time on any subject if I did that. So I went with 6 day - 2
subject / day combination schedule (like Math + Physics, Physics + chem ,
Chem + Math and then repeat). Sunday' was for miscellaneous stuff/ relax
time/ make up for lost time during week etc
For periods I knew the schedule well in advance (like 12th exams, holidays
etc) - I actually made almost a weekly plan too (right up in May - 2003)

* So after having my plan and time-table prepared for entire year - I went
onto. execute the plan.
I would weekly track my progress - against my own time-table and re-adjust
allocated time to each chapter (say I am confident in Nuclear physics but not
progressing well at newton's laws and mechanics - I would increase time

allocated to weaker ones and reduce the ones I was good at)
I was strict and trying hard about meeting goals on time - but not about the
order of chapters (may be I should have done that too - but anyways)
I maintained separate notebooks (long - thick ones) for each subject and
serial numbered them as I progressed I would maintain an Index of chapters (and source of chapters if needed)
(usually continuous) in each notebook.
These mostly contained problems and few special notes of clarification etc.
Strictly no messing and mixing up with subjects in these notebooks - at the
end of year these were very very helpful
I used Pencil - strict no no to Pen. That helped me to rub off the garbage I
used to do while solving problem - thereby having a very clean referential
material at end of year.
I wrote neatly - even if I had to be little slow at times. At end of year - I could
actually read it up.

* Other experiences (I have been writing this answer for too long - huh)

* Throughout the year - I had not been able to attempt more than 50-60% of
questions in mock tests. That was actually lowering my confidence at times.
But But I had been able to score it almost 100% (that is minimum negative
markings) - Quality matters a lot as I felt and I knew later. So that was a
boost too. And I let go the fear of low scores and continued focus on quality of
stuff I am learning.

* So end of my 12th (April - 2004) - I wrote JEE Screening exam. Same stuff
(50-60% of questions attempted)
* I then got 5100-ish rank in screening. Not so great by any standards but
good enough to qualify for Mains (that was really a confidence booster in
what I did entire year)
* About a month later in May-2004 - I wrote JEE Mains (Maths was tough,
Physics was doable and I went blank in Chemistry - i actually felt sleepy too).
Got some 8000-ish rank and was not enough to qualify (still felt confident)

* Stupidly enough - I had not applied for other engineering entrance exams
(like AIEEE)
* Based on my 12th marks (97% ;) ) - I got an offer from BITS Pilani (In Biotechnology - I was crazy about it that time. I don't know if I would have got
other dept or not). But after some troubles in getting a bank loan - I had to
give it up.
* Then I had to chose to join a normal B.Sc college or not. I decided no - I ll
take chance on 1 more year preparation. So after a fight with my father (he
was naturally worried about me losing an year's worth of education) - I went
for it. My father then encouraged me to give my best in that 1 year of drop.
The best advice was to get a membership in the Vizag city library and spend
time there.

* I listened to that and July-2004 onwards, I was spending about 5 hours (3 in

morning about 10am-1pm and 2 (3pm-5pm) in evening) religiously at Vizag
city library. I got a life time membership and they had nice sections on
competitive books (and allowed me to bring my own books too)
* The time I spent in library was one of the best in my life. It was close to my
home (about 15 min of bicycle ride). No mobile phones - no distractions
(other than books in there - I happened to read fictions too a lot ;) )
* So this year my plan was simple, I was mostly clear on concepts of almost
all chapters (except few). I need to practice more problems, reclear concepts
if needed, improve my speed (answer more questions accurately)
* I stuck to the plan - it looked going smooth and then around Oct 2004, my
mother fell ill and diagnosed with liver cancer and then eventually passed
away in Nov 2004. Followed by that my father got slip disc and bedridden for
entire Dec 2004, because of the continuous mental and physical stress he
had gone through in 2 months and I had to look after me, my sister and him
(of-course as per his advice - he is very smart person when it comes to
handling critical situation in life).

* So Jan 2005 , things were kind of back on track. Atleast I was spending
about 6-8 hours for JEE .
* I was spending most of time keeping my mind busy - solving problems,
doing chores at home, spending time in library reading fiction and quantum
physics [modern physics by arthur beiser](yes it was not in syllabus
anywhere but its damn interesting although I couldn't understand most of it -

but I could somewhat understand the concepts. I remember the book as

about 1.5 years later in my 3rd/4th semester at IIT-Kharagpur, It actually was
a syllabus book in one of the elective (Physics 2) I had taken up). The rest of
time I either slept or wondered about what happened / why it happened in
Oct-2004 (that was never ever in my plans and something I never even
dreamt about) - thoughts were deep, cold and kind of blank.

* April-2005 I wrote Screening once again. This time attempting about 6570% (scoring almost all of it) and got 2100-is rank.
* I continued to mains (and I wrote AIEEE too. Not that stupid as in 2004 :D)
and I felt really confident (attempted 90% in Physics, > 70% in Maths, ~60%
in Chemistry) and the result was very good too (except for Chemistry I got
expected
marks (accounting for wrong answers that I attempted))
* So end result in 2005: AIEEE - 2000-ish AIR. IIT-JEE AIR-697.

To summarize all of it - read the 'Short version' at top of this answer.