---
title: This TRADER Turned GAMBLER Lost ₹20 Lakhs
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---

# This TRADER Turned GAMBLER Lost ₹20 Lakhs

This TRADER Turned GAMBLER Lost ₹20 Lakhs. 
-------------------------------------------

### **How can ₹60,000 become ₹11 lakh—and then disappear into a ₹20 lakh-plus financial crisis?**

This is the story of **Suresh from Raipur, Chhattisgarh**, whose journey began with hard work and small savings but eventually moved from stock-market trading to options, gambling, borrowing and debt.

He says his **total losses crossed ₹20 lakh**, while he had also paid around **₹4.5 lakh in interest**. At one point, he says he was borrowing money from people at extraordinarily high rates simply to keep going.

But this story isn't really about one bad trade.

It is about what happens when **profit creates overconfidence, loss creates an obsession with recovery, and recovery turns into desperation**.

[Watch the full Bazaar Ke Haare episode on YouTube](https://www.youtube.com/watch?v=R1NKyJ6klGk&utm_source=chatgpt.com)

---

From a Fast-Food Stall to the Stock Market
------------------------------------------

Suresh says he started working when he was just **14 years old**.

His father became seriously unwell and was unable to work for around two years. As the eldest member of the family, Suresh felt responsible for contributing.

He went to school and then worked at the family's fast-food stall.

It was a difficult beginning, but slowly life started improving.

Then, around **2018**, he discovered stock-market trading through YouTube videos.

Like many beginners, he became attracted to the idea that the market could provide an additional source of income.

He started with approximately **₹60,000**, money that he had saved himself over time.

Initially, he traded relatively small amounts.

Then something happened that changed his perception of money.

**He started making profits.**

---

₹60,000 Became ₹11 Lakh
=======================

Suresh says that his ₹60,000 capital eventually grew to approximately **₹11–11.5 lakh** through trading.

He says there were days when he could make **₹20,000–₹25,000**.

The problem wasn't the profit itself.

The problem was the belief that came with it.

He started thinking:

> Making money is easy.
> 
> He had spent years working hard, running a food business and helping his family.
> 
> Now he was seeing large amounts of money appear through a few trades.
> 
> That created **overconfidence**.
> 
> He began believing that he had understood the market.
> 
> But according to his own account, he had never received formal trading education.
> 
> He learned primarily through YouTube, news and his own experience.
> 
> For several years, however, he says things went relatively well.
> 
> He traded only occasionally, often taking just two or three trades when he believed the market presented an opportunity.
> 
> He also had a profit and loss limit in his mind.
> 
> For a while, **discipline protected him.**
> 
> ![This TRADER Turned GAMBLER Lost ₹20 Lakhs](https://sanchaykaro.com/wp-content/uploads/2026/09/This-TRADER-Turned-GAMBLER-Lost-₹20-Lakhs-1024x538.png)This TRADER Turned GAMBLER Lost ₹20 Lakhs---
> 
> # The ₹5 Lakh Trade That Changed Everything
> 
> Then came 2024.
> 
> Suresh says he took his most damaging trade.
> 
> He bought an **NBCC option position worth approximately ₹5 lakh**.
> 
> It was also an expiry day.
> 
> More importantly, he was travelling.
> 
> He was visiting Jagannath Puri and was uncertain whether he should trade that day.
> 
> But he traded anyway.
> 
> Initially, the position showed a profit of approximately **₹30,000–₹35,000**.
> 
> That profit increased his confidence.
> 
> He increased his position.
> 
> Then he travelled to an area where there was no reliable mobile network.
> 
> He says the position could not be managed properly because there was no network/server access.
> 
> By the time he could properly check the market, the trade had collapsed.
> 
> He says approximately **₹4.6 lakh** of his capital was lost.
> 
> A single trade had wiped out years of progress.
> 
> ---
> 
> # The Recovery Trap Begins
> 
> This is where the story became much more dangerous.
> 
> After losing ₹5 lakh, Suresh didn't think:
> 
> **"I need to stop."**
> 
> He thought:
> 
> **"I need to recover it."**
> 
> That difference is critical.
> 
> He used another ₹60,000.
> 
> Then he sold a gold ring.
> 
> Then he sold his iPhone.
> 
> He says he raised another ₹1 lakh-plus from these sources and put the money back into trading.
> 
> But the money disappeared again.
> 
> This time, something had changed.
> 
> Earlier, he had been willing to accept a ₹5,000 or ₹10,000 loss.
> 
> Now, his thinking was different.
> 
> He wanted his **₹5 lakh back**.
> 
> That became an emotional battle.
> 
> ---
> 
> # When Ego Takes Over Trading
> 
> Suresh describes the next stage himself as an issue of **ego**.
> 
> He wanted to prove that he could recover.
> 
> This is one of the most dangerous psychological cycles in trading:
> 
> **Loss → Ego → Recovery Attempt → Bigger Risk → Bigger Loss**
> 
> The original loss may be manageable.
> 
> But the attempt to recover it immediately can create a much larger problem.
> 
> Instead of protecting the remaining money, the trader starts risking more money because the previous loss feels unacceptable.
> 
> The objective changes from:
> 
> **"How do I protect my capital?"**
> 
> to:
> 
> **"How do I get my money back?"**
> 
> That is when risk can become uncontrollable.
> 
> ---
> 
> # From Trading to Gambling
> 
> When trading losses continued, a friend introduced Suresh to gambling.
> 
> He says the friend showed him a betting application involving sports, casino games and other forms of betting.
> 
> Why did he agree?
> 
> His answer was simple:
> 
> **He wanted to recover his trading losses.**
> 
> He didn't initially see gambling as another serious financial risk.
> 
> He saw it as another possible way to get his money back.
> 
> And that is where the situation became even worse.
> 
> [[More Than ₹70 Lakhs Lost](https://sanchaykaro.com/more-than-70-lakhs-lost/)](https://sanchaykaro.com/more-than-70-lakhs-lost/)---
> 
> # The ₹6,000 Bet That Created a Dangerous Illusion
> 
> Suresh describes one particularly powerful experience.
> 
> He placed approximately **₹6,000** on a cricket-related bet.
> 
> He says the expected return could have been around ₹70,000–₹80,000.
> 
> Against expectations, the outcome went in his favour.
> 
> After deductions, he says he received approximately **₹72,000**.
> 
> That moment created a dangerous psychological reward.
> 
> He thought:
> 
> **"I can do this."**
> 
> The money appeared much easier to make than through work.
> 
> There was no shop.
> 
> No customers.
> 
> No long working hours.
> 
> No physical effort.
> 
> Just a bet and a result.
> 
> But gambling has a fundamentally different risk structure from disciplined investing.
> 
> The occasional big win can encourage a person to increase the size of future bets.
> 
> And that is exactly what Suresh says happened.
> 
> ---
> 
> # ₹80,000 Became ₹1 Lakh—Then the Losses Started
> 
> After experiencing wins, Suresh started increasing the amount he was putting into gambling.
> 
> He says he eventually lost approximately **₹6.5 lakh through gambling**.
> 
> There were days when he says he lost around **₹3 lakh**.
> 
> He also describes getting involved in "colour trading" and casino-style games.
> 
> Small amounts could sometimes become large amounts quickly.
> 
> But the reverse was also true.
> 
> Large amounts could disappear extremely quickly.
> 
> This is one of the biggest dangers of chasing losses:
> 
> **A person stops thinking about probability and starts thinking about recovery.**
> 
> ---
> 
> # Borrowing Money Made the Problem Bigger
> 
> After his own money was depleted, Suresh began borrowing.
> 
> He says he borrowed money from people who trusted him.
> 
> At one stage, he was taking money from multiple people.
> 
> The total borrowing grew.
> 
> Then came interest.
> 
> He says he eventually paid approximately **₹4.5 lakh in interest** and, in some cases, borrowed at extraordinarily high rates.
> 
> The transcript describes rates as high as **50% per week**.
> 
> Such borrowing can turn a financial loss into a rapidly growing debt problem.
> 
> Even if the original loss stops increasing, the interest keeps adding pressure.
> 
> And that pressure can push a person back toward even riskier decisions.
> 
> ---
> 
> # The Real Cost Was Bigger Than ₹20 Lakhs
> 
> Suresh describes his overall loss as **more than ₹20 lakh**.
> 
> But the financial number doesn't tell the complete story.
> 
> There was:
> 
> - Trading capital lost
> - Money borrowed from friends
> - Interest payments
> - Gambling losses
> - Personal possessions sold
> - Business focus affected
> - Increasing financial pressure
> - Emotional stress
> - Loss of confidence
> - Damaged relationships
> At one point, he says he contacted hundreds of people asking for a relatively small amount of money.
> 
> And when almost nobody helped, he understood something deeper.
> 
> **Financial problems can make a person feel extremely alone.**
> 
> [[This Trader Almost Sold His Kidney After ₹55 Lakh Loss ](https://sanchaykaro.com/this-trader-almost-sold-his-kidney-after-55-lakh-loss/)](https://sanchaykaro.com/this-trader-almost-sold-his-kidney-after-55-lakh-loss/)---
> 
> # How a Trader Becomes a Gambler
> 
> Suresh's story shows that the transition doesn't always happen overnight.
> 
> It can happen step by step:
> 
> **Trading profits**
> 
> ↓
> 
> **Overconfidence**
> 
> ↓
> 
> **Bigger trade**
> 
> ↓
> 
> **Major loss**
> 
> ↓
> 
> **Need to recover**
> 
> ↓
> 
> **More trading**
> 
> ↓
> 
> **Selling possessions**
> 
> ↓
> 
> **Borrowing money**
> 
> ↓
> 
> **Gambling**
> 
> ↓
> 
> **Bigger bets**
> 
> ↓
> 
> **More losses**
> 
> ↓
> 
> **More debt**
> 
> This is why chasing losses can be so dangerous.
> 
> The person is no longer making decisions based on a financial plan.
> 
> They are making decisions based on the emotional need to undo the previous loss.
> 
> ---
> 
> # The Biggest Lessons From Suresh's Story
> 
> ### 1. Never borrow money to chase market losses
> 
> A loss should never become a reason to take another loan.
> 
> Debt creates pressure, and pressure can destroy decision-making.
> 
> ### 2. Don't confuse a few profitable years with guaranteed skill
> 
> Suresh had several years of profitable trading.
> 
> But one bad trade changed the situation dramatically.
> 
> Past profits do not guarantee future profits.
> 
> ### 3. Options can magnify losses
> 
> F&O can provide large gains, but losses can also occur very quickly.
> 
> Trading money that you cannot afford to lose can create serious financial consequences.
> 
> ### 4. Never use gambling to recover trading losses
> 
> Trading losses cannot safely be recovered through betting.
> 
> Gambling introduces another layer of risk and can create a destructive cycle.
> 
> ### 5. Don't chase your previous loss
> 
> A ₹5 lakh loss doesn't need to become a ₹10 lakh or ₹20 lakh loss.
> 
> Sometimes the best financial decision after a loss is to **stop and reassess**.
> 
> ### 6. Don't believe easy-money stories
> 
> When someone makes ₹20,000 in a day, it can look easy.
> 
> But you rarely see the losing days, the capital at risk, the stress and the years of experience—or the possibility of losing everything.
> 
> ---
> 
> # Why Sanchay Karo Focuses Only on Mutual Fund Investment
> 
> This is exactly why **[Sanchay Karo](https://apirrabbit.com/api/v1/master/LandingPage?arn=ARN-301757 "Sanchay Karo")** takes a different approach.
> 
> The purpose is not to encourage people to chase quick profits.
> 
> It is not built around F&O trading, gambling, leverage or recovering losses.
> 
> **Sanchay Karo focuses on mutual fund investment and disciplined long-term investing.**
> 
> The philosophy is simple:
> 
> ### Save. Invest. Stay Consistent. Grow.
> 
> Instead of asking:
> 
> **"How much can I make today?"**
> 
> the focus should be:
> 
> **"How can I build wealth consistently over many years?"**
> 
> Mutual funds can provide diversification across different securities and asset classes depending on the scheme. Regular investing through SIPs can also help investors build a disciplined investment habit.
> 
> The objective is not to predict tomorrow's market.
> 
> It is to build a financial habit that can continue through different market cycles.
> 
> ### Sanchay Karo's approach:
> 
> - Focus on **mutual fund investment**
> - Encourage **regular SIP investing**
> - Think in terms of **long-term goals**
> - Avoid unnecessary leverage
> - Don't borrow money to invest
> - Don't chase losses
> - Don't depend on trading tips
> - Don't expect guaranteed returns
> - Focus on **consistency rather than quick profits**
> This does **not** mean mutual funds are risk-free. Mutual fund investments are market-linked and can lose value. The difference is the philosophy: **planned investing for long-term goals rather than repeatedly increasing risk to recover losses.**
> 
> ![sanchay karo feature graphic](https://sanchaykaro.com/wp-content/uploads/2026/07/sanchay-karo-feature-graphic_1.jpg.jpeg)sanchay karo feature graphic---
> 
> # From ₹60,000 to ₹11 Lakh—and Then to Debt
> 
> Perhaps the most important part of Suresh's story is that he didn't begin as a reckless gambler.
> 
> He started as a young person trying to improve his family's financial situation.
> 
> He worked from the age of 14.
> 
> He saved his own money.
> 
> He built a business.
> 
> He experienced trading success.
> 
> And then the desire to make more—and later the desire to recover losses—changed his decisions.
> 
> That is why financial education matters.
> 
> **The danger isn't always losing money on the first trade.**
> 
> Sometimes the bigger danger is what you do **after** the first major loss.
> 
> ---
> 
> # Don't Let One Loss Decide Your Future
> 
> A financial loss can be painful.
> 
> But a loss does not have to become a lifetime of debt.
> 
> You can stop.
> 
> You can accept the loss.
> 
> You can rebuild slowly.
> 
> You can return to work.
> 
> You can create a budget.
> 
> You can repay debt step by step.
> 
> You can start investing again only when your finances are stable.
> 
> The goal of investing should not be to become rich overnight.
> 
> **The goal should be to build financial security without destroying your financial life in the process.**
> 
> Suresh's story is a warning about what can happen when **trading turns into chasing, chasing turns into borrowing, and borrowing turns into gambling.**
> 
> Sanchay Karo exists around the opposite philosophy:
> 
> **Don't chase money. Build wealth patiently.**
> 
> ---
> 
> ## Disclaimer
> 
> This article is an original editorial adaptation based on the interview/article provided and is intended for awareness and education. Statements regarding Suresh's losses, debts, interest payments, trading activities, gambling activities, borrowing, business circumstances and personal experiences are presented as described in the interview and have **not been independently verified**.
> 
> This is **not financial advice**. Mutual fund investments are subject to market risks; read all scheme-related documents carefully. Investors should independently evaluate financial products and consult a qualified financial professional where appropriate.
> 
> Regulatory rules relating to trading, derivatives, gambling, lending, investments and other financial products can change. Readers should verify the current legal and regulatory position with the relevant official authorities.
> 
> **Important:** Gambling and high-risk trading should not be treated as a method for recovering financial losses. If you or someone you know is experiencing severe financial or emotional distress, seek support from a trusted person, qualified mental-health professional, or appropriate emergency/crisis service. Financial problems can be addressed step by step, and **a person's life is worth far more than any trading account, investment or debt.**