Thread by @rohit_katwal

Long Thread coming on #StockMarket

#TradingQNA
Q. - I took #loan of 7.5 lakhs to trade in the Stock Market. Money is lost. I am in #Depression. What should I do?

A. - I have been into this situation. Post 2011-2012, I suffered from depression. 1/n

@rohit_katwal I had blown my account not twice but thrice. I was a teen with no sense of business & was gambling. It is past now, but know that my amount of loss was much bigger. Today, I have recovered all I lost & in profit.
I am estimating that EMI should be around ₹11k 2/n

@rohit_katwal 1st, going into depression won't help. Act on the problem. Your loved ones need you more than ever.
2nd, Don't borrow more money to trade. In wrong mindset you will lose it again. Do not take help from anyone on trading calls, workshops etc to recover money.
3/n

@rohit_katwal In the wrong mindset you won't be able to take right decision.
3rd, in my case we had very good relations with banks & somehow banks were willing to help us. We also had assets like parental land so there was a way out which we didnt know yet. Assess your assets.4/n

@rohit_katwal 4th, know that filing bankruptcy won't help. Don't ask any prominent person to help you financially. No body will help for your financial goof up.
Coming to solution:
11,000 pm is not a big amount. Your family needs to collectively make an effort to pay the EMI.5/n

@rohit_katwal Do not get a defaulters tag from bank. Get a sales job if you have to. Its not going to be easy. We had assets, so we also rotated bank loan few times. Bank must be willing to help. Use Co-Operative or PSU Banks. 6/n

@rohit_katwal In my case, I decided to cut colony. Problems weren't solved because land is not a liquid asset. Once people know that you are in trouble, they will negotiate like bitches. For 4 yrs. I kept my legs buried at my price & finally 2 plots sold and I was out of debt.7/n

@rohit_katwal Understand
1. There are brokers who have special arrangement with bank managers for loan
2. Don't take any gold loan as they costly
3. Talk with prominent business man in your community who can guide you.
4. Even banks don't want to put you into defaulters tag. 8/n

@rohit_katwal I talked with many people that time. And they told me all the businessman rotate money like this. You need to understand how it works. More than anything you need your friends and family support.
I rented out my farm many time to raise money on yearly basis. 9/n

@rohit_katwal While doing all this, try to build something that over time can bring in cashflow to you. What it can be, only you know.
As of now I have a Residential Colony, Drug-Deaddiction Center, Own Trading, Brokerage Firm & PMS Services all providing cash flow. 10/n

@rohit_katwal 3 years back when my problems were about to finish, I did not have slightest of idea how I will turn things around.

You never know how life will turn out. But you got to be ready to fight this situation. People will pity you but won't help you. 11/n

@rohit_katwal Just find a job even if its insurance where incentives are pretty good. Take help from family members to contribute a little. And learn our financial system. Problem is not the problem, but our attitude towards the problem.

May God Bless you.

End of Thread.