Lost 9 lakhs in options trading

Trading
1

I have lost 9 lakhs in options trading till now and lost 6.8 lakhs in this May month only. I only do buying and I lost 2.8 lakhs in a day after that, I borrowed 3.8 lakhs to repay my 2.8 lakhs + 1 lakhs to a friend and repeated the same mistake even after deciding that I would take a break and not repeat this. Now, I have a total debt of 7 lakhs. I am feeling very stressed and depressed. The reason for all the mistakes is only me. Even after realising my mistakes, I have repeated the same thing. Need some help and guidance. All your suggestions are welcomed.

2

Assuming you are new to stock markets -

  1. Don’t do revenge trading. Stay away for some time and then tip toe your way in.

  2. Learn technical analysis and respect stop loss.

  3. Use kill switch like features if urge/ itch is strong. Ask your family to change password and not tell you.

  4. If you don’t know what you are doing then there’s no difference between gambling and stock markets.

  5. There are no short cuts to sustainable profits in trading. Even a kid can make a profitable trade due to beginners luck.

  6. Read books. Too many of them.

  7. Doing what everyone does and expecting miracle is foolishness.

  8. Knowing when to hold & when to fold takes 5 years at least.

  9. Finally, PATIENCE & STOP LOSS & PERSEVERANCE.

2 Likes
3

Thank you!

5

Stop trading or some time later you will get here.

6

Please stop trading… focus on ur primary skill development of your job and do passive investing via SIPs in MFs… trading is not for every one and there whole companies with advanced tools and people with advanced degrees in companies like Jane street who have great edge in the market and dont have to pay 42% tax and are milking our markets like crazy… stop this foolishness … ur family’s financial future depends on it.

7

I lost 2 lakhs more and now finally decided not to trade anymore.
I will try to improve my skills in Software tech so that can good a good salary package and start a better life.
I am regretting not able to follow the above suggestions. Trading is not for me.
Thnkyou for all your great help.

1 Like
8

Good choice, trading is not for most.

All the best …

1 Like