Lost 70% of my money in the last 3 months. Day 1

Rajat Mahajan Prashanth Sekar Wins Final Day Of APT India Online Series 2021

First of all, I want to say thankyou. I appreciate everyone on here opening up and sharing their story. Your stories inspired me to share mine.Regardless of how much each of us have loss due to gambling, the thing we share is that we are all here to better our lives. Let’s learn from our experiences and live life differently together.I’m 31 years old and I’ve lost somewhere around 100k in the stock market. I’m writing this post to help with closure, and maybe inspire others reading to join me on this next journey.Here’s my story:Ever since graduating college, I’ve been fortunate to have a well paying job and some savings. I first opened an Etrade account when I was 22 years old and had saved up roughly 20-30k. I put the money into Etrade and invested it all in one company that had recently IPO’d. I was young and stupid and used margin to leverage my 25k position 4X. I vividly remember the day it crashed, I was at work, trying to hold a conversation with co workers while glancing down at my phone, I watched 20k disappear in a matter of seconds. I felt physically ill that day. I averaged down for the next few years. The stock never recovered, I lost nearly 50k on this stock alone.I told myself I’d never let that happen again, I lied to myself. I put so much time into learning technical analysis and learning how to be a better trader, and 90% of the trades I would follow these ‘rules’ and limit my losses. The other 10% of the time cost me. I’ve had 4 trades that have cost me 60k this year alone.I realized a few weeks ago, I couldn’t do this anymore. The pain I was experience with nothing positive in return, needed to stop. My first step, was closing out all of my positions and taking the losses. My second step was telling my fiance about these losses. I was scared to do this, but she was very understanding and supportive and happy that I opened up to her about it. She’s amazing.What I learned:The money loss hurts, but what hurts even more, is the time and life experiences I missed out on because of these losses. The late nights staying up, the early mornings, waking up and checking the pre market prices, and the physical and mental sickness that came from gambling on these stocks.The last two weeks have been swings of emotions. Mostly depressed, with small burst of hope for the future. Looking back on it all, I wish I didn’t have to go through this to learn:No longer will I waste time gambling.No longer will I let gambling dictate my emotions and who I am.No longer will I let gambling effect my relationship with my fiance (who is amazing, and I’m so fortunate for) and my friends.No longer will money dictate my happiness.No longer will I place judgements on people before hearing their story.No longer will I take money for granted.No longer will I be careless with my money.No longer will greed get the best of me.But I’m happy that I’m here writing this post, starting a new chapter of my life, with a new outlook and respect. It’s cliche, but money does not buy happiness. Happiness is an emotion that can happen regardless of how full your wallet is. Emotions are free. We all are capable of changing our emotions.Thanks for reading my story and I hope you all the best in our journey together.

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