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Author Topic: How to Prevent been a crypto addict.  (Read 9054 times)
Yaunfitda
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July 09, 2019, 02:50:13 PM
 #21

Crypto earners is a big choose for those people who need some big money to earn in crypto so they are always addict in crypto I'm also 3years in crypto and until now im using it to earn some money.

That is the catch, everyone is here to make money. That is why we got addicted to it. Specially during the last bull run of 2017, I'm sure a lot of you stayed up late and doing your trade. I know this because during that time a lot of users are creating thread saying that they quit their job to focus on earning huge amount of money.

But for what price? Your health and your socialization? Personally I won't that route, I'll assume that the OP is still young, life is full of adventure, snap out of your addiction and I'm sure that one day you will appreciate that you did.

 
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July 09, 2019, 10:50:22 PM
 #22

Well if this addiction is giving you profit then I think its not really bad because you gain something from it even you spend most of your time monitoring the market. However if you're just addicted because you want to earn but often failed then its time for you to change your strategy.

Set a limit on when to monitor the market or instead of doing regular trades change it to long period hodling. In that way you dont need to become updated all the time since you set to have a target price on when to sell. You just need a self control to refrain yourself from doing what you used to do everyday.




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July 10, 2019, 06:48:17 AM
 #23

honestly, it is getting serious that most people spend over 18 to 19 hours these days on systems and mobile phones watching the market, trading on the move with their mobile. the addiction is getting out of hand. i think i am probably getting into this kind of life.
what could be the possible means of prevention. i need to have my normal life back.
Maybe you should just accept that the business you’re into has a lot of risks in it and be ready to lose your money as well, then you wouldn’t one about checking the price.. Cause I don’t even see anything wrong with using your phone to check crypto prices there is nothing wrong with that dude… or maybe you can get a wallet that has price notification, just like Coinbase wallet so that you can set prices notification and wouldn’t have to be checking prices all the time… rather you will be notified when prices goes above or below your settings.
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July 10, 2019, 09:53:55 AM
Last edit: July 10, 2019, 10:56:12 AM by TheCBF
 #24

All good comments and an important thing to raise. Bit of a personal post as this is such a critical topic.

The team here have traded stocks and shares, commodities, currency, binaries, we've spread bet and ICO'd and no doubt more. We've trained in technical analysis, fundamentals, charting and applied that to all manner of trades.

It's easy to get drawn in, being at the desk for 7am and spending more and more hours reading the news, twitter, feeds, forums, papers, telegram, etc. Catching the markets opening to assess initial direction, place morning trades, hedging on moves, shorting the bad news, etc. Get to 4pm as the EU and UK markets close, but the US is now trading so assess what's happening there, what reports are coming out, how will it affect the Asian markets when they open on the news. Oh, but we're looking at the 24hr markets so there's never a time to stop...

Then along comes crypto. All the above magnified by 100! The trading opportunity of our generation. Wealth creation where the 'youngsters' and tech savvy have the advantage over big money. Gotta get on it while we can!

It's too easy to get sucked in even where you're not really an addictive type. Hey, you're not weak you're hard working, committed, ready for the grind, happy to put in the work.

But please stop for a moment and let the grey haired one share one piece of wisdom!

Develop a Trading Plan and stick to it.

It will help avoid FOMO trading, emotional panics to market moves and help you hone your approach. No trader in the real world operates without a trading plan. People without a cold, hard, rational trading plan are gambling amateurs.

Please search for 'the importance of a trading plan' and spend an hour reading/watching, then build your plan.

These are the trades of my 11yr old son on an IG Spreadbetting demo account - using his trading plan. Bit of luck, lot of sense. (he's better than me!)
https://i.imgur.com/Prg686k.png

If he can do it, you certainly can knowing 10 times more than he does and being far more mature.

You can succeed at trading. Just don't gamble - trade and invest by executing your trading plan.

Regards,

CBF
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July 10, 2019, 10:25:54 AM
 #25

honestly, it is getting serious that most people spend over 18 to 19 hours these days on systems and mobile phones watching the market, trading on the move with their mobile. the addiction is getting out of hand. i think i am probably getting into this kind of life.
what could be the possible means of prevention. i need to have my normal life back.
If you learn to make a plan before you buy a coin and follow it, your quality of life will improve significantly. You also need to learn to take control of your emotions and cultivate peace and patience.
If you are a daily trader, then you need to start trading on longer timeframes. This will allow you not to worry so much about what is happening every minute.
Observance of these recommendations helps me to live a full life and not to spend most of it in tension and worries. I trade on 4h, 12h, 1D and H time frames.


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July 10, 2019, 02:48:43 PM
 #26

OP, if you're that addicted of a trader (and hopefully you're not losing your shirt), the only thing you can really do is to just stop.  That's what I'd tell anyone who's addicted to booze or drugs--easier said than done, but it's the only way to stop an addiction/compulsion in its tracks.  If I were you, I'd probably sell everything you've got and convert it back to your local currency.  That'll help you stop watching the market.

I used to obsessively follow the stock market, and I owned a lot of stocks at the time.  There came a point where I had to sell everything, and believe me I didn't watch the market much after that.  When you've got no skin in the game, it's so much easier.

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July 10, 2019, 05:15:47 PM
 #27

let's look at your post to another angle, let's talk about WhatsApp, how many hours do people spend on WhatsApp? probably many hours, and these people are addicted? probably. But here comes your case, I believe you use WhatsApp, how do you divide the time by spending several hours on WhatsApp and other social networks and still get 18 hours to look at charts to watch the price? that's not possible. You must be deceiving yourself about the time you observe the price.

This is the most generalized bullshit you get when someone dislikes something, stop trying to make people run from crypto.

I agree

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July 10, 2019, 11:10:34 PM
 #28

honestly, it is getting serious that most people spend over 18 to 19 hours these days on systems and mobile phones watching the market, trading on the move with their mobile. the addiction is getting out of hand. i think i am probably getting into this kind of life.
what could be the possible means of prevention. i need to have my normal life back.

You are trading for 18 to 19 hours a day? I don't believe. It's impossible.

Between those times, surely you do other things. So how's the profit?

Want to have a normal life back? Then be a "responsible" trader. There are lots of successful traders today that doesn't even deal with the market the whole day but still getting a nice average in return.

Why prevent crypto just to have a normal life? Help yourself.

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July 11, 2019, 11:36:13 AM
 #29

honestly, it is getting serious that most people spend over 18 to 19 hours these days on systems and mobile phones watching the market, trading on the move with their mobile. the addiction is getting out of hand. i think i am probably getting into this kind of life.
what could be the possible means of prevention. i need to have my normal life back.
They say, where your treasure is, is where you heart is, no normal person will just keep focus on the market without having a treasure inside which is their investment, or using it to make money,Provided your focus in on the market to make money, I think that is a sweet nice addict. Many people you see on their system several hour are traders, especially those who are not using their stop loss tool o profit taking tool built on the platform to trade, they rather prefer to trade manually.

These people are therefore required to constantly be monitoring their trade so as to know the spot to buy and the spot to sell so that they don’t miss that slight opportunity that may elude them when they take their eyes off the trade, that is why I always advise traders to endeavor to make use of some of these facilities already provided by trading platform to make trading easy.
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July 11, 2019, 07:46:53 PM
 #30

honestly, it is getting serious that most people spend over 18 to 19 hours these days on systems and mobile phones watching the market, trading on the move with their mobile. the addiction is getting out of hand. i think i am probably getting into this kind of life.
what could be the possible means of prevention. i need to have my normal life back.
It's easy. If you want to go back to the normal life just like before, give up crypto trading. Sell all your coins and turned your back with cryptocurrency without thinking that you will gonna lose all your coins. Paranoia is something that is hard to resist especially when your brain is tellin you that you have your coins in your wallet that you have to watch for. Cash out all your bitcoins and altcoins and forget cryptocurrency. Lol

LOL. True. It is easy to do. The same stuff is useful when we give these pieces of advice to drug and alcohol addicts. If seriously, I do not think that cryptocurrency trading can be a real addiction. It can be a favorite hobby or a business.

Its considered business yet we are dealing with money on here and we know trading is an investment not just like

gambling which is solely being created for sake of entertainment.So both things aren't really comparable in terms of this one.
Theres no need to prevent or avoid yet this one can generate out profit if things goes well.



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July 11, 2019, 08:41:24 PM
 #31

timing according to the hours needed may be a way to reduce crypto addiction. because now a trader usually needs more than 15 hours and it should be reduced maybe only 6-7 hours a day. try doing this in order to avoid crypto addiction

Addiction on crypto for me resembles too much hard work, unlike if we compared it with gambling it's more like greed or possession. That's right we need time management in order to schedule things according to priorities and time is very important to keep your busy life synchronized. Its all a matter of organizing things right, and if you can't get rid of being addicted choose to be a holder and minimize being day trader.

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July 11, 2019, 08:59:26 PM
 #32

The truth is everyone checking market is either a trader or a speculator. It's important and very good to make money in crypto if not, will be a waste of time and waste of funds. If you make enough good money from crypto, you won't see it as addiction or time wasting g. Untill you make massive gains on crypto, you won't appreciate the difference it has to 9-5 jobs.

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July 11, 2019, 09:27:59 PM
 #33

Having your normal life back could equally means that you are ready to remain poor except if your presence or activities in crypto currency community is not making you any money at the end of the day. To me, the number of time I spent online with crypto currency activities Tuesday more money come into my wallet and that is my joy since the year 2016. But if your own presence or activities in crypto currency is not yielding anything for you then you need to really look for way out then.
I think if you are a learned man and you have been in the business world for some times now, you would not fall a prey to crypto predation. I believe that it is purely the appetite for money and the returns from your investment that you expects to make you rich that draws you in the circle of addiction. Try to have a normal life like many other crypto enthusiasts.
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July 11, 2019, 09:37:38 PM
 #34

honestly, it is getting serious that most people spend over 18 to 19 hours these days on systems and mobile phones watching the market, trading on the move with their mobile. the addiction is getting out of hand. i think i am probably getting into this kind of life.
what could be the possible means of prevention. i need to have my normal life back.
I don't think that's a problem, addiction to what can produce a profit is good and if it continues it will certainly be very useful. Different if you are addicted to it that can harm your life. So, to overcome addiction like you, I think it's just to try something else that can reduce your hours to monitor the market, at least by having a higher social activity you have controlled times and make it more balanced.

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July 11, 2019, 09:55:31 PM
 #35

Am I an addict? I don't think I've ever been addicted to anything. But there's certainly never been anything I've ever been absorbed by as crypto and that's because it has everything - drama, riches, disaster, innovation, scepticism and it just might change the world. It's hard to think of anything else that compares.

Those are addicted to trading are maybe a little different. It's not creative and may well wind up ruining you. If I felt I had this problem the first thing I'd probably do is go and start living out the things I'd always wanted to do presuming I'd made some gains. That's the whole point of doing it, no?

Once you've fed your mind and soul with something nourishing perhaps you'll gain some perspective and focus on other areas too.

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July 11, 2019, 10:25:57 PM
 #36

timing according to the hours needed may be a way to reduce crypto addiction. because now a trader usually needs more than 15 hours and it should be reduced maybe only 6-7 hours a day. try doing this in order to avoid crypto addiction

Addiction on crypto for me resembles too much hard work, unlike if we compared it with gambling it's more like greed or possession. That's right we need time management in order to schedule things according to priorities and time is very important to keep your busy life synchronized. Its all a matter of organizing things right, and if you can't get rid of being addicted choose to be a holder and minimize being day trader.
Yes, you are right people shouldn't think too much of how to gain profit by keeping their time in order. This could prevent them from falling to the addiction, a very well organized time except for priorities but please don't make trading as your priorities you will still fall for addiction. Trade according to the trend although it is time-consuming if this is your first time but it is worth it to master and try.


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July 11, 2019, 10:29:18 PM
 #37

The truth is everyone checking market is either a trader or a speculator. It's important and very good to make money in crypto if not, will be a waste of time and waste of funds. If you make enough good money from crypto, you won't see it as addiction or time wasting g. Untill you make massive gains on crypto, you won't appreciate the difference it has to 9-5 jobs.
Yeah, spending much time in crypto isn't just enough to call it an addiction, people are giving concern to their investment that is why they keep on track.
I did it and I'd never found my self into that thing and this a way we feel secured when we saw our investment every now and then.




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July 11, 2019, 10:51:46 PM
 #38

what could be the possible means of prevention. i need to have my normal life back.

It's almost impossible to return your normal life as long as you hold Bitcoin or other crypto currency on the exchange, because only you are responsible for your financial decisions. If you do not watch the crypto currency market, you are unlikely to gain big profits. Looks like you dedicate too much time, spending over 18 to 19 hours on the exchange. To prevent addiction, you just need to learn how to manage your time.



Zoom out and watch the long term charts. The daily, weekly, monthly time frames. Moves that look like huge pumps and crashes on the intra-day charts look tiny on the longer term charts. Check the daily/weekly charts a couple times a day. It'll start looking pretty boring after a while!

This is a good advice. Obviously, day trading consumes too much time of your life. You also can transfer all your BTC coins to a cold wallet and become a HODLer.
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July 11, 2019, 11:15:49 PM
 #39

There might be people spending 18-19 hours per day into gambling and other activities. I don't think there are users spending such a long time regularly into trading. One can't stay focused on anything for more than one or two hour. Even if that's true that Op has been spending 18-19hours on trading what will be his profit end of the day will be nothing. Better he can go with a day job that will keep him healthy.

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July 12, 2019, 02:36:25 AM
 #40

honestly, it is getting serious that most people spend over 18 to 19 hours these days on systems and mobile phones watching the market, trading on the move with their mobile. the addiction is getting out of hand. i think i am probably getting into this kind of life.
what could be the possible means of prevention. i need to have my normal life back.

Is the kind of life you have right now is something you really do not want at all? If you really want to learn more about crypto and you simply want to keep yourself abreast of all new updates, there is no problem I guess. You simply have to reduce a few hours from it. Probably, you spend those exercising or doing something else apart from crypto. I myself am absorbed with this crypto thing.

 
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