Here I have posted a month ago when I was in 9.8 lakhs of loss. Some people helped me with their suggestions. I stopped there for some days but then I got 4 lakhs from my parents which was their savings left for me, but again I put that money and lost it and also lost my whole salary of this month.
I have attended counselling session but still not able to control my addiction. Because I am not doing trading anymore from last two months just doing gambling. No able to cut the losses and averaging it. I understood that I will not stop everything that I will get will lose.
Feeling bad for myself, my family. Living alone is one of the reason that I can’t stop myself.
My life is totally ruined and I know I will ruin it further if I will be alive.
Any suggestions, or someone wants to scold me are also invited.
I want to live.
take a deep breathe and accept the fact that trading is not the only thing in life. your life can be much more beautiful and healthy if you simply accept the fact that there is more to life than just a few trades based on gut feeling. As for trading, I would say if you cant make profit with Rs 1000 as your capital then you cannot make profit with Rs. 1 crore too. So start very small so that your losses are well under your control when you are learning about trading.
Probably need to see psychiatrist, a different one if it does not help.
I cannot relate to this, so cant really help - why would you be addicted to losing money even when you know that its not working.
Try to find some other hobbies. Disconnect for long periods, read books - fiction or otherwise. Learn to play music. If you are inclined, play computer games as diversion if needed.
Adopt a pet, look after it.
Go out for long walks.
Try to skill up in your domain and try to stop thinking about lost money. This can easily be made back if you can get good salary and/or live frugally which inst too bad a thing.
Talk to you parents, let them know what has happened. Tell them not to give money like this again in near future. Maybe ask for forgiveness and maybe forgive yourself too.
Shit happens, this is still not too much, you will lose more. Do you want to lose 50L ?
Look at this
Disable all segments. Or close broker account itself and only invest in mutual funds. Don’t open broker account ever again.
You need to get away from trading. Stop taking that first step when you login to account.
Delete your password if needed, make it more difficult to start.
I don’t know if this is good advise, a professional would be better. But can google for gambling addiction and try to understand what you are going though.
Thank you so much. It means a lot.
Thank you
Hi,
I will keep this short and bullet pointed. Sorry to find you in this situation. Do not lose hope. I have been here, where you are. So let me objectively state a few things:
- Your losses are around 15L from your post. While it is a considerable amount, it is not the end of everything.
- From the looks of this post, you are young, you have your whole life ahead of you. Most of your earnings (from your job, not trading) are ahead of you. You have a bad start, you are in a bad spot now, but that is it. Life is long, and this is nothing in the grand scheme of things (Trust me, I lost way more than what you lost around the time I was your age, from trading.)
- It is better to lose this money now when you are young and you have your whole life to make up for it, than to lose it all when you are 50 and you have no earnings left. Life has taught you a valuable lesson early, without much damage, and you can make up for it
Here is what I would do if I were you (And I think this is what I have done when I was in your situation)
- Stop trading RIGHT NOW. You have enough evidence that it is not giving you profits, it is emotionally damaging you, and it is putting you in stress. Deactivate your trading account, send a request to Zerodha to close your F and O account.
- Get help. Family, friends, counsellors - I do not know. Do not keep it a secret within you. That might be harmful
- Do not think that you have to recover this loss from trading. Do not think that you have to recover this loss from anything. You do not have to recover this loss. You have to make money. And WAY WAY more money than this. From something else.
- So learn new skills, upskill, and use your time to get promotions in your job. Rise in your career. Become a highly skilled valuable asset. There are so many jobs that can pay you way way way more than your losses.
Long story short, get out of trading, and focus on your career. There is way way way way more money in your career than you will ever make from trading. And God willing, you will do so well, and this loss will be so small one day that you will laugh it off
Best of luck
Thank you so much sir for his valuable advice. I will try my best to bounce back from as a good human.
GOLDEN WORDS
Chill brother. Do not Trade further. Everything will pass on. Always there is an another door which may give you more success. I know a guy who has lost almost everything in trading, and now lives a very decent earning life as an Call Taxi driver. He has earned more than what he has lost and has now attached 3 cars to call taxi aggregator and employed drivers to take care of the business. Always there are better options available near our reach.
Accept the fact that you are trying to set the sun to rise from the west.
You aren’t defeated in life, you can’t just fit trading in that puzzle of yours.
Leave this “stupid” thing behind. Consider it a breakup. Move on. You will.
Don’t listen to people who say - oh, you ll bounce back, or keep hanging.
Just quit it. Hit the gym. Life is once. And it melts faster than you think.
Hey man I have been through this long ago please **please stop trading immediately please for your own mental and financial well being. You have a job your life is precious for your family. Market will be here forever you can get your money with interest at right time .
Please stay away from market now on until you get mentally and financially sound again . A loosing traders life become worse society is cruel to him no one understands him .
You are not alone. I lost all my savings. My parent have nothing to support me.
When I was in the same situation as you are now, I stop trading.
I strated thinking why I am loosing. When I am paper trading I was right 7 out of 10 times. so what is the problem.
It took 2 years after that to find the reason. In that 2 year I read following book:
- Best Looser Win
- Mental game of Trading
- Atomic Habit
- 7 habits of Highly effective people
- Power of Now
- Trading in the zone
- Thinking Fast & slow
- psychology of money
- Mind secret of winning
- Mind ove market @zerodha varsity
and many more book. Read everything on Trading psychology and Risk management. Remove FB, Instagram, twiter & youtube. then I do following things
Make my own Mission statement.
Written rule for every action I suppose to take including Predefine entry exit rule, daily risk limit etc.
21 days follow the above rule despite having huge urge to trade what my mind is telling me to take.
And then things started to works. 
If you dont have any strategy or knowlege of Price action then study 1 year on it. Then read the book “Reading price chart Bar by Bar” by Al brooks.
Hope this help.
Thank you 
And i know of a person who wasted many many years using that confusing book.
Only few months back you declared you were a losing trader. It will take much longer to declare yourself profitable.
@catundermybed
People will come with recovery stories and some may be true and some may be deceiving themselves, it happens. For a long time i thought i was close too but it took 5+ years for me to actually turn the corner and i could have been lucky.
I think this kind of talk is dangerous for you as it will keep the hope going. That in itself is not a bad thing, but you have already proven to have gambling instincts, it wasn’t a one off.
There is no imperative for you to make money only from markets. 98% of people dont beat FD and most of them lose money.
DO NOT trade again IMO, there are better things to do for most people.
Just read Sensibull post and stop coming here to avoid getting hopium again.
I never said I am profitable. I am just never think about recover my losses. I want to trade good with following my rule which I often break earlier years.
Made a new start and I have not break any rule so I am happy .
I will remeber your comment and share my P&L next year. If I am not profitable then I will quit trading I promise.
Not breaking rules without a process for it is a fundamental necessity for long term success.
But discipline alone is not enough, what we are doing should also be something that actually works.
Bar by bar stuff might be too active for intraday trading in India because of high costs.
Good luck.
Bar By Bar Book just for an example. when I read that book I realize that most of the Think I have already applied but never belief that actually work, then I switch to another concept. So When I read that book I had not difficulties to understand that book
The most Important think is Risk Management which I have always Ignored, I made profit on 7 out of 10 trade then lost every thing on 3 trade. That’s my problem.
Most importantly what is helped me that reading following books I have already mentioned
Everything works. You know that. problem is not with the setup, strategy, concept. Adrenaline rush so high while day trading in instrument like F&O, that we are bound to make mistake. Urge to take trade outside rule is so high that its most difficult things to control.
As @nikhil kamath once said. “You have to be emotionally dead while trading”
Same thing, risk management is essential but wont help without edge. You will lose money slowly instead of quickly.
And winrate is close to meaningless too as you found out. You cant magically get 70% win rate without that 30% losing trades hurting - atleast not without edge.
That’s complete nonsense actually, Everything does not work. Most things do not work. But some simple things do work and we have to work to find it. And markets give no guarantee that they will continue to work in future.
All the things you have mentioned so far are the basic requirements to be able to trade but do not have any edge of their own. Being disciplined while trading wont magically give you money.
Anyway, this is not the intent of this thread and i will not derail it further.
I replied because of your bad advice given the context of this thread and the harm OP is causing on himself.
Its crazy that a not-profitable trader should advise someone in this situation. Blind leading the blind, i had seen this on traderji and wasted a lot of my time there.
@catundermybed - strongly advise you to turn away from all of this or you will be mislead into getting false hope again. Read you own first post again and see what you have done. Don’t waste time here anymore. Good luck.
Yes I agree. I should not have shared my thought in this thread. This is not the appropriate thread. Sorry ..
Take care @catundermybed.
Am pretty sure mr kamath was not so successful in trading. Else he ll still be trading.