Reddit user loses ₹6 lakhs in options trading, doesn’t want to live… community unites in kindness

A Reddit user who posted about losing 6 lakh in options trading was met with sympathy and advice on the site. User Zoyan_123 wrote: “I’ve lost six lakh rupees in options trading. Feel like I shouldn’t be alive. I’ve lost all my hard-earned money in options. I don’t think I can live anymore.”

Kind Responses

In what turned out to be an overwhelmingly kind thread of responses, fellow users on the subreddit r/IndianStreetBets, tried to console the original poster (OP) and shared some of their own blunders with them. Let’s take a look.

One Reddit user VenCoriolis advised: “You can earn 6 lakhs, and in fact, FAR more during your lifetime. I mean INR 6,00,000 is just INR 821 per day for 2 years, that’s it. Think you cannot earn it? You definitely can. There are people who take loans and mortgage their houses and properties and then lose all their money. At least you have a better chance of getting out of this. Just don’t gamble ever again.”

User anathi21 appealed to OP to think about his family members, saying: “You can earn another 6 lakhs easily during your lifetime. Just cut out your stupidity when you earn it. But there will never be another you for your loved ones.”

Also Read: Excitement and worry as stock options trading booms in India

Another user satyanaraynan, emphasised OP’s importance, noting: “6 Lakhs is nothing compared to you. You are priceless. I am sure you can earn that in just a few years.”

While user peoplecallmedude797 shared his friend’s experience, writing: “My friend who was completely broke, jobless borrowed 8 lakhs and did options trading to make quick money. Needless to say, he lost it all but now he’s realized his mistake and taken up a job. He is slowly repaying his debt and living fine. Learn from this mistake and don’t get into this kind of shit again.”

User Particular-Zone5259 shared a personal story, adding: “Been there, done that, and felt the exact same way. Felt like my world crashed down on me. Do not think about it, what’s happened has happened. You will overcome your current situation. Do not be alone. Spend time with your loved ones. There is so much more to life than money.”

Also Read: Option Sellers Lose Shirts as wild price swings rule on Thursday

One user NoiceAndToitt shared an example of his game losses and asked OP to correct his steps going forward: “I lost 6 games of FIFA in a row today. I switched off my PS5, instead of jumping off my balcony. You treated money like a game and you lost. Ultimately money is just a piece of paper with some imaginary value. It’s not what’s real in life. Keep your wits about you. I won’t give you sympathy, but rather I’ll ask you to use your rational mind at this time. You know the right thing to do is set self-control around you. So do it. Immediately. Consider this a very expensive learning and move on now.”

User Gimmeyourmoneybro appealed to investors to give recovery some time instead of taking drastic steps, posting: “A week back only someone killed themselves due to losing 10lakh. Why don’t people learn from others’ mistakes? But as far as you losing 6 Lakh, bro it’s nothing. It may be your life savings, your parent’s life savings, education fees etc, etc, but you’ll come back stronger from this. I lost 5 lakh a couple of years back and I felt the same as you but as time goes by you get better and you come back stronger. I am in a much stronger position than when I lost the money and you will too. Give it some time. When you reflect back at this moment of your life in the future you’d be proud of yourself as to how far you’ve come. The loss you feel right now would be nothing compared to the feeling of winning. Give it some time my friend. You got this.”

User KartikGajaria was philosophical: “I know it feels horrible now but mark my words, this too shall pass. Destructive thoughts won’t get you out of this hole, self-discipline and a rational plan will. It will be hard, but let it go and move on.”

Also Read: Retail investors should avoid trading in derivatives, says NSE chief Ashish Chauhan

And user Past_Piglet_8023 was thinking ahead to the times when all is right again, commenting: “Don’t be too hard on yourself now you have a killer story to tell don’t end yourself and don’t gamble again.”

And user rikaro_kk made an empathetic appeal: “It feels terrible, no way to stop the feeling, accept it. Some people have even taken loans and lost it, the “market is volatile” in T&C of mutual fund advertisements are real, Options Trading is riskier. Don’t worry about the money at this moment, you could have spent it at a hospital or something too. You will definitely earn it back. You’re undeniably smarter now against the riskiest bets, just stabilise yourself for now. Take therapy if you need to grieve about this.”

r/IndianStreetBets describes itself on Reddit as “India’s fastest growing trading community!” and was created in January 2020.

“We are not SEBI registered advisers. All the information provided here are for educational/informational purposes only. Please do your own due diligence before you make any investment decisions. There is a risk of loss in investing or trading which you should be aware of prior to making an investment/trading decision, including the possible loss of principal. The subreddit or any contributors make no representation regarding the suitability of a particular investment or investment strategy,” a disclaimer statement read.

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Updated: 18 Nov 2023, 02:48 PM IST

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