In the quiet of his modest home, 25-year-old Mohit sat idle, grappling with the stifling reality of the lockdown. With no job and nowhere to go, his days blurred into a monotonous cycle of waking, eating, sleeping, and scrolling through social media on a budget-friendly internet connection. The world outside was on pause, but Mohit’s mind was restless, consumed by a growing anxiety about his lack of income. Determined to find a solution, he turned to the internet, searching for ways to earn money from the confines of his home.
Among the myriad online job ideas, one advertisement caught his eye: the promise of wealth through the share market. The allure was irresistible—bold claims of becoming rich in a short time, earning daily sums rivaling a full-time salary with just a few clicks. Mohit’s curiosity deepened when he stumbled across a popular series that glorified the stock market as a “well that could quench the thirst of an entire nation.” The narrative painted trading as a golden ticket to financial freedom, and Mohit was hooked.
Eager to learn, he dove into the world of trading. He joined free online groups, watched countless advertisements, and absorbed the hype surrounding quick profits. His initial foray into trading yielded beginner’s luck—a small win that fueled his confidence. Emboldened, Mohit subscribed to a paid program, convinced that this was his path to prosperity. The program’s influencers, with their polished videos and charismatic promises, made success seem not just possible but inevitable.
However, Mohit’s enthusiasm soon outpaced his knowledge. Overconfident and driven by the thrill—or what he later described as the “kick” of trading—he began placing aggressive trades without regard for risk management or money management. The share market, often romanticized as a shortcut to wealth, revealed its unforgiving nature. His early gains evaporated, replaced by mounting losses. Desperate to recover, Mohit traded not for profit but to claw back what he had lost. Each recovery attempt, however, only deepened his losses, as the market’s volatility punished his impulsive decisions.
The influencers, undeterred by his struggles, urged him to persist. They claimed his losses stemmed from failing to follow their instructions precisely—not taking all their calls or adhering to their prescribed strategies. With some groups issuing five to seven trading calls daily, it was practically impossible for an ordinary person like Mohit to keep up. Yet, the blame was squarely placed on him. “You didn’t trade all our calls,” they said, or “You ignored our risk management advice.” Defeated, Mohit watched his savings dwindle to nothing.
The toll was not just financial. Mohit’s hope eroded, replaced by a toxic mix of addiction to trading and a paralyzing fear of further losses. He found himself trapped in a cycle, unsure whether he was chasing recovery or simply unable to stop. His story is not unique—it is the sobering reality for countless individuals across the nation, drawn into the share market by the siren call of overnight riches.
The Securities and Exchange Board of India (SEBI) has repeatedly highlighted the stark truth: over 90% of retail traders lose money in options trading. What was originally designed as a tool for hedging risk has, for many, become a weapon of financial destruction. Mohit’s journey serves as a cautionary tale, underscoring the dangers of chasing quick wealth without proper knowledge, discipline, or risk management.
The share market is not a shortcut to millions, nor is it a well that quenches all thirst. It demands respect, patience, and a commitment to learning. For every Mohit ensnared by false promises, there is a lesson: true financial growth comes not from reckless gambles but from informed decisions and prudent strategies. As the market continues to captivate dreamers, it is imperative to approach it with caution, lest hope and savings vanish in the pursuit of an elusive fortune.
– By Mrs. Ekta Bagdy – MA, NISM15