I am a self-taught individual working for myself.
Once I went to SBI for some work my dad had asked me to do. I met a person there who was a broker and was persuading everyone who came to the bank to open a Demat account in SBI cap securities. He was also solving doubts of various people who didn't knew what to write in those application/demand draft/other forms. I too asked a doubt to him and he engaged with me in a normal conversation. After some time, he showed me his SBI smart application in which there were share prices listed and they were changing constantly. At that time, I knew nothing about what exactly is a Capital market, how to invest into it etc etc. I was completely clueless about what was going on. But what intrigued me was that the man told me he earns 300rs/day. I was like…ooo…but how? Just by staring at something into the mobile. I was agape. I thought he was fooling me. But then he told me something about it and the fact that he told me he earned daily, moreover he was a certified broker (I saw his badge) led me to believe his sayings. I was also thinking of opening a demat account now.
I went home and told my dad about all this and said I want to open a demat account. My dad knew what a demat account was and he had previously invested in some mutual funds and lost money so he was totally against opening a demat account. I persuaded him and meanwhile started reading about stock markets from the beginning. I knew that my dad would never go against my will as he is a very understanding person.
After a day, I opened a Demat account with SBI cap securities and started reading about Intraday trading in detail. I used to pester my broker daily with lots of doubts. I used to sit in the SBI branch for almost 2–3 hrs daily repeatedly asking him doubts. Sometimes people even used to ask me how to fill the demand draft and I used to reply them by saying I don't work in this bank.
After 15–20 days the broker got frustrated much to my expectation and said I don't know more than this. You need to learn by yourself. Till that time, I knew that he didn't know much about stock markets and he would definitely not help me in the long run as he lacked the precious information and knowledge I was looking for.
Then I started learning from dust and simultaneously I did trading. At first, it was fun. It was just like a game.(as everything was online, you don't get the feel that you're trading with real money as you just see numbers) I made some money in the beginning and got more and more excited to trade. It was like an addiction then. I used to trade daily with a little amount and most of the times I earned(initially). Lest did I know that my worst nightmare is yet to come.
TO BE CONTINUED.....
BY ABHIRAM DAPKE
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