Lost all my savings daytrading 3 days in the stock market

I consider myself a nice person, surrounded with good people and good habits in general. I'm 30 years old, married with the love of my life and planning to have children soon. I work from home, eat healthy, sleep well, go to the gym, drink a beer once in a while and don't smoke. However, I just lost all my savings (U$ 50.000) after daytrading 3 days in the stock market.

This episode hurted my life in two main ways: the first is, obviously, financial; the second is mental, for it sort of twisted my personal perspective of myself, harming my self-confidence and making space for some suicidal toughts - which I've never had before.

Unfortunately I followed the gambler script step by step:

I began investing in the stock market for the long term, but noticed that daytrading could be a faster way to "get there"

After the first daytrade, I earned almost U$500 (1% of my total money). The second and third day were almost the same. In the fourth day I raised the "bet" and ended up losing almost U$2000 - that is, more than I had "won" before. Although this loss was financially under control (a small % of my savings), I felt uncomfortable and wanted to catch this money back. I dedicated a few months in studying daytrading (investing in courses, books...) and after about 6 months I felt ready to come back again.

In the first two hours I began "winning" U$100. Then I lost U$300. Then U$1000. I did not want to go to sleep with that lost. I began to sweat. Tried to catch the money back, lost more U$9000. Minus U$10.000 in a day. Got desperate.

After 6 months, trying to get my money back once again, I lost more U$ 15000 in a day - despite all my promisses not to do this insanity again.

Yesterday, after 6 months and new promisses again, I lost my remaining U$ 25.000. That's it folks. As quick as that. I don't know what to think, and I cannot see myself in the mirror. My wife does not know about that. In fact, nobody knows but myself.

I could have at least spent all this money travelling with my wife. Instead, I lost all this money at home, sitting in front of a computer.

I would appreciate a lot if you could share some words on how to be a "normal" person again.

It feels like the "gambler spirit" will always be surrounding me.

Thank you very much, my friends.

Hi Berel

I am so sorry to read what has happened in your life. It is a huge loss and yet probably way smaller than many of us with less income have lost - you have sought help now and this will save you .

Firstly can I suggest you install an app on all your internet devices - I use Gamban. That will stop you gambling for now - because once it becomes addictive it is no longer trading - it is gambling . Once it becomes addictive you can no longer return to controlled gambling.

You could also limit your access to cash -put your money in your wife’s name or whatever else works for you.

I think most of us have been shocked to discover than gambling is closely linked to suicidal thoughts. When we stop, the thoughts stop.

In the meantime please contact a site like Befrienders to talk through the thoughts you have been having .

You will recover from this - mentally and financially. What you need to do now is make sure it never happens again.

The addiction will whisper to you to borrow money, that you have a new system, that you can win it all back .

It will whisper that you could try just a little to see.

It will whisper that now you know what can happen you will gamble in a controlled manner .

The addiction is a cruel manipulative entity that lives In your head and it will know exactly how to convince you to return to the game.

Put every barrier you can think of in place to stop you doing so.

If you can please seek help from an addiction counsellor to help you cope with all this.

You have taken a great first step in recognising that this has become an addiction- and in reaching out for help.

Well done and hope to see you posting lots .

Hello and thanks for starting a thread in the Gambling Therapy forums

Here at Gambling Therapy we pride ourselves on being a caring and diverse online community who can help and support you with the difficulties you’re currently facing. We understand that this might be a tough time for you, particularly if you’re new to recovery, so come here as often as you need to and participate in the forums, access online groups and connect to the live advice helpline if you need one to one support. We’re in this together!

Here on the forum you can share your experiences in a safe, supportive and accepting environment. The beauty of writing it all down is that you can take your time and you will be creating a record of your progress that you can look back on if it ever feels like you’re not moving forward. So, share as much or as little as you like but do try to stick to keeping just one thread in this forum so people know where to find you if they want to be updated on your progress or share something with you.

As well as the forums New Members are invited to join Charles in the New Members Practical Advice Group On Mondays at 21:00 (UK) and Thursday at 19:00(UK)

And on that note....

I’m going to hand you over to our community because I’m sure they will have some words of wisdom for you :-)

Take care

The Gambling Therapy Team

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