Many on the internet talk about the perks of being a full-time trader, but how successful is it as a career option? An engineering graduate reportedly lost ₹83 lakh in trading and later ran away from his home, as per a viral Reddit post. It is claimed that the 35-year-old ended up starting over his life, working as a Swiggy delivery partner.
The post has gained mixed reactions on the platform.
Claimed to have been shared by a user who revealed how it was to meet his cousin, the man who lost everything in trading, after years. He said that his cousin came from a financially stable family that was also married but with no kids. The man reportedly holds an engineering degree.
The unnamed user explained how his cousin got introduced to trading, which left him with a total debt of around ₹83 lakh.
“This is about my cousin brother. Guy is 35 now and completely messed up his entire life through his habits. I met him after many years (we live in far away places) and he was wearing a swiggy uniform. I was fairly surprised since he comes from well of family and he is married too. He was not particularly brilliant and had a few arrears in Engineering (sic),” the post read.
Going by the post, the man in his 30s learned about trading from a visit to his client’s workplace. Reportedly, he was told that trading was his client’s full-time profession. Intrigued by the option of making money, the engineer began trading with small amounts and eventually made gains. Encouraged by his initial luck, the man was supported by his parents, who allegedly sold off their land, pledged jewellery and arranged ₹35 lakh to invest in trading.
However, the plan backfired, leaving the man in more debt.
“His parents – who believed this is some easy money, sold land, pledged jewels and gave him 35 lakhs. Dude lost everything trading and believing he can get out of the pit, kept digging further through loan app and his wife’s jewels etc. This started creating problems in the family and his smarter brother intervened and made him reveal his total debts. Astoundingly, it was a massive 83 lakhs! (sic)”
The man’s massive debt reportedly pushed him to run away from his house despite financial aid from his parents. He began working as a Swiggy delivery rider in the last few years.
The user shared what his cousin told him when he asked him about his trading strategy that left him stunned. “The trading chart sort of shows a red light or blink and that is when you invest money,” the cousin told him.
The user warned people about the lack of knowledge of financial markets and how it can impact people’s lives.
Responding to the post, a user wrote in the comments, “This is honestly a reminder that trading without understanding what you are doing can become very dangerous.” “Happened with someone really close too. Lost over 2 crore or maybe more playing F&O options buying,” added another.
Disclaimer: This article is based on social media generated content and is intended only for informational and educational purposes. Live Mint couldn’t independently verify its claim and doesn’t endorse them.
