Hi,
This is not something related to trading advice, but I genuinely need help understanding how we can control the behaviour of someone who has become addicted to F&O options trading.
My sibling has been addicted to F&O options trading for around 7 years and has lost approximately ₹50 lakhs during this period.
Almost all of this money has ultimately come from me — through loans I have taken and from my salary. We are not a financially well-off family. We have struggled throughout our childhood, and we don’t even own a house or any property. Every rupee we have today has come from years of hard work and sacrifice.
Last October, my sibling lost another ₹10 lakhs. We managed to pay ₹5 lakhs, and ₹5 lakhs was still remaining. At that point, we somehow felt a little relieved, thinking, “Okay, only ₹5 lakhs is left. Maybe somehow he can manage this.”
But it happened again.
Recently, when he got ₹1 lakh into his account, he couldn’t resist the urge to trade options. He initially made a profit of around ₹6 lakhs. Instead of stopping there and being grateful that he had recovered some money, his greed took over. He continued trading and eventually lost around ₹10 lakhs.
He then started taking loans from small finance/loan apps such as Navi and others to cover the losses.
I genuinely don’t understand how this can keep happening.
We are hardworking people. We had an extremely difficult childhood. We kept telling ourselves that one day, after getting jobs and becoming financially stable, life would finally become a little easier. When I started working, I thought that at least our struggles were finally coming to an end.
But since the beginning of my job, this has been happening.
Initially, the losses were ₹10,000, ₹20,000, ₹50,000 or ₹1 lakh. We somehow managed to deal with them. But now the amounts have reached ₹10 lakhs in a single episode.
Last time, as a final warning, we blocked his demat account. I have been monitoring his loans, credit bills and financial transactions every week. He knows exactly how much damage this has caused our family. He knows how hard we have worked for this money.
And yet he did it again.
How do we stop this behaviour?
What can I possibly do apart from checking his phone, monitoring his loans and blocking his demat accounts?
Even if we close one demat account, he simply opens another one with another broker. Is there any way to permanently prevent him from opening or using trading accounts?
This isn’t just about losing money anymore. It is destroying our entire family emotionally and financially.
₹5 lakhs is not a small amount for us. Its almost a year’s worth of hard-earned money for me, my father and my mother. We don’t have savings or property that we can fall back on. We have already spent years struggling to reach a point where we thought we could finally live without constantly worrying about money.
Now we are back in the same situation again.
