*Day Traders* are now calling gambling Addiction helplines!!

[davis196]

Day trading is pretty much like gambling,if you don't know what you are doing and expect gigantic profits with little to no effort.
Gambling is based on luck(maybe except poker).Day trading should be based on skills,proper analysis,controlling your emotions and discipline.I know that most day traders are far away from these requirements and they just want to buy a shitcoin and wait for it's price to go 10x.This kinda makes day trading similar to gambling,but there are differences for sure.
And yes,the day trading apps want to make a compelling design,that will hook the traders and keep them on the platform for as long as possible.I don't find anything wrong with that.The traders aren't supposed to act as if they are kids in a candy shop.
The traders are mature adults,who have to control themselves.

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[leea-1334]

As mentioned above,,, I also saw many Yobit traders (I stopped using the site a long time ago) complaining on the trollbox they lost money not just on the "dice" game with huge edge but on the investbox and ICO options which of course we all know were ponzi schemes,,, but of course people who got greedy pretended they did not know the risks.

Trading is not gambling,,, but many traders gamble.

[Gozie51]

My question is : *How far is day trading from Gambling according to you?*
Is that a valid comparison?? Are we soon going to consider the day trading *gambling?*

Gambling is not the same as trading and day trading. This is the opinion I have on this. Gambling is not really based on analysis, it is done with the idea of depending on outcome of the luck and to say more, sometimes when you are winning in gambling some people say they are lucky today and that is just about gambling for what it is. Trading is different from that, it is serious bargain for buying and selling that is why it is called trading.

[TheNineClub]

Setting aside the actual gamification of those apps (and yes, I do believe they purposely designed some features that would trick your brain into thinking that this is a game), but in all honesty, day trading in itself is quite addictive and it's a valid comparison of it being like gambling. Just look at what was going on in stock markets in the 80s and 90s. The traders there were chasing that high day in day out, risking huge amounts of someone else's money. In the end, for them, as it is for a lot of day traders now, it's not about the money, it's about that adrenaline rush you get when you know you got one up on the market.

[robelneo]

My question is : *How far is day trading from Gambling according to you?*
Is that a valid comparison?? Are we soon going to consider the day trading *gambling?*

In some way, it's similar to gambling  in day trading you can also lose everything, and it involves minutes to minutes decision making it is not for the faint in heart, I'm not a day trader but I know of some friend who does day trading and has seen them lose substantial amount when they made a wrong decision and the market change unexpectedly if you are a day trader you should only invest what you can afford to lose  
although day trading involves a lot of analysis there are circumstances that the outcome will not favor you, the symptoms of day traders are very similar to gamblers, depression, and anxiety that is why day traders also need a helpline like gamblers.

[Strongkored]

My question is : *How far is day trading from Gambling according to you?*
Is that a valid comparison?? Are we soon going to consider the day trading *gambling?*

Day trading will be the same as gambling when you do it without knowledge,  there is nothing wrong with day trading as long as decisions are made based on trading analysis in accordance with knowledge, but I'm sure many do day trade just by guessing or just using feeling.
The comparison will be valid if the trader trades based on what I said above.

[timerland]

This should be quite unsurprising.

Day trading has always been extremely risky and if you don't know what you are doing, it's literally glorified gambling.

Hopefully these people pull out early at least before they trade too much on margin and get themselves into a mountain load of debt... Lots of these stories occurring unfortunately because of this perception that day trading is glamorous and comes with lots of perks.

[peter0425]

A really interesting article:
https://www.ft.com/content/8f9bbc77-06b1-4fbd-8b7e-6e381ba038a7

The gambling Addiction helplines are spread across the world and people are super aware of them as well. Right now apparently there is a news regarding people actually calling those helplines asking help for not their *gambling Addiction* but for their day trading addiction.

The article goes far to compare the gambling with day trading, the trading platforms according to the article are now much similar to gambling and therefore when they talk about investing and trading, now a days, the animation, the applications, the bright colours, extreme profit and addiction is making it much similar to gambling.

Apparently the apps are designed in such a way that they rewire a person's brain and makes it harder for them to leave that habit.

My question is : *How far is day trading from Gambling according to you?*
Is that a valid comparison?? Are we soon going to consider the day trading *gambling?*

I am also thinking that the community must make action towards educating people specially younger generation about Gambling and this may take effect sooner.

because the world taking this as major problem but not acting to prevent this,instead only inside the house this has been addressed but not in school or in other areas in which this must be tackled.

the people around the world being lured in gambling without proper knowledge on what will happen to them if mistreated instead only the advantage is what they have learned .

[Betwrong]

~
My question is : *How far is day trading from Gambling according to you?*
Is that a valid comparison?? Are we soon going to consider the day trading *gambling?*

It is an absolutely valid comparison, imo. Some people say that day trading is similar to gambling only if you trade "without knowledge". But, firstly, there are gambling activities where skill/knowledge is involved; and secondly, c'mon, who on earth trades "without knowledge"? I personally know a trader who's losing money almost each time he trades, yet he considers himself such an expert that he's trying to teach others.

In short, I would compare day trading to skill-based gambling like sports betting and poker. Yes it's not a pure game of chance, but you can still get addicted to it.

[michellee]

Maybe some people will say that day traders are like a gambling addiction, but I think that will depend on how people use trading. If they can manage themselves in trading, maybe they will not become addicted to trading and they can trade anytime they want, even if they use daily trading. I think it is how we should treat our activity and as long as we can know how to manage our time, that will not cause a problem to us. Day trading is like a regular job that we do daily and even if we have a chance to lose, we will also have a chance to make a profit later.

[darewaller]

*How far is day trading from Gambling according to you?*
Is that a valid comparison?? Are we soon going to consider the day trading *gambling?*

Hope you are aware of the fact that this has been and everlasting debate which keeps on happening across this forum. (People do ask like gambling can be day-trading in our trading discussion sub).

On q quick search I got few of our old topics which might be answering you:
Trading vs Gambling
Gambling vs. "leveraged" trading
Combination of gambling and trading
Crypto trading or gambling
Gambling is like day trading ?
Do you consider trading as gambling?
Outside risk: similarities between gambling and trading?
Sports Bet trading!
Which one is more risky? Skill-based gambling or trading?
Why trading is better than gambling?
Digital options - Gambling or trading?
Is Bitcoin Trading Gambling?

In my opinion, gambling is chance based and trading is skill based hence if you are getting into skill based gambling like sportsbetting or poker then you are almost trading there. Moreover, trading will simply come down to the level of gambling when you are not trading with the help of technical and fundamental analysis.

[Poker Player]

In my opinion, gambling is chance based and trading is skill based hence if you are getting into skill based gambling like sportsbetting or poker then you are almost trading there. Moreover, trading will simply come down to the level of gambling when you are not trading with the help of technical and fundamental analysis.

I agree with you, the only thing I would add is that the problem that is causing a surge in addictions are the new technologies. They have many good things and have changed the world mostly for the better, but they have their dark side.

Nowadays people are addicted to dopamine in many different ways like Facebook likes on Instagram, porn or addictions related to money like gambling or trading. So it is not surprising that traders call gambling helplines or women, who rarely watched porn when there was no internet, seek help for porn addiction.

[AicecreaME]

For me addiction on both things are just the same, it's bad if your addiction is exceeded anyone's expectancy, because you're really helpless if you are addicted to the point that you don't care about yourself anymore, you don't care whether you eat or not as long as you have something to gamble in Trading or Gambling, same stuff. The idea is both things will cause you bad things, losing money and losing yourself if you don't know stuff and yet you still do Trading or Gambling.

[aioc]

Both Gambling and day trading can cause addiction because it involves investing with money and both can make you lose a big amount of money, I'm not into day trading but I know there's similarity based on the articles and experience of day traders, day trading consume a lot of time, effort, and money you have to be on the chart most of the time and you have to make the right decision from time to time and this can take a toil on your well being, so it's not surprising that they are showing signs of depression coming from addiction.

[KTChampions]

A really interesting article:
https://www.ft.com/content/8f9bbc77-06b1-4fbd-8b7e-6e381ba038a7

The gambling Addiction helplines are spread across the world and people are super aware of them as well. Right now apparently there is a news regarding people actually calling those helplines asking help for not their *gambling Addiction* but for their day trading addiction.

The article goes far to compare the gambling with day trading, the trading platforms according to the article are now much similar to gambling and therefore when they talk about investing and trading, now a days, the animation, the applications, the bright colours, extreme profit and addiction is making it much similar to gambling.

Apparently the apps are designed in such a way that they rewire a person's brain and makes it harder for them to leave that habit.

My question is : *How far is day trading from Gambling according to you?*
Is that a valid comparison?? Are we soon going to consider the day trading *gambling?*

If you are not involved in arbitrage or high-frequency trading (which is essentially a type of arbitrage), then intraday trading is completely equivalent to gambling. It is naive to assume that in any way it is possible to guess random price fluctuations over short periods of time, it is no less naive than guessing the result of a coin toss based on the history of tosses.

[Doell]

For me addiction on both things are just the same, it's bad if your addiction is exceeded anyone's expectancy, because you're really helpless if you are addicted to the point that you don't care about yourself anymore, you don't care whether you eat or not as long as you have something to gamble in Trading or Gambling, same stuff. The idea is both things will cause you bad things, losing money and losing yourself if you don't know stuff and yet you still do Trading or Gambling.

it makes no difference, you are absolutely right the most dangerous addiction is indifference to oneself ,want to eat or not the important thing is that it can flow the desire to gamble and that is very dangerous ,has a very deep moral message

instead of turning attention to day trading it's not much different because the situation when doing day trading follows trend or guess like a psychic and there is no guarantee the price grows fast ,and I think is like crash gambling but with a small risk of losing ,day traders hard to say sometimes it can be profitable and sometimes much worse because it feels like it eats away slowly

[mu_enrico]

The gamification part I think is just serve as a distraction to the actual issue. Day trading gets more addicting because of fast-paced cryptocurrency and meme stocks, combined with leverage. I still remember day-trading 10 years ago was just boring since the stock price movement was very slow. Nowadays, people can win (or lose) something in just one day, and it's somewhat random. I'm not saying that this tech development is bad, but certain people shouldn't get involved if they cannot control themselves.

[milewilda]

I'm having a doubt about that, some people doesn't consider dat trading as a gambling but rather the futures trading where they consider it like a guessing game. Long or Short and of course the leverage one higher leverage, higher winnings but no matter what I think addiction to trading can be count as gambling addiction right? I hope they would be able to help such people.

Future/Leverage are indeed on the gambling side no matter how you do make out good analysis but still those would really be having that 50-50 chance whether its a good call or would totally wreck
your balance.In the word addiction itself is never been good, anything which is excessive is bad and would really result into disaster but if we do talk about spot day trades then i could say
that this is much more worth rather than on playing gambling itself.You cant really make out some comparison since both does have different level of risk.

[Peanutswar]

I'm having a doubt about that, some people doesn't consider dat trading as a gambling but rather the futures trading where they consider it like a guessing game. Long or Short and of course the leverage one higher leverage, higher winnings but no matter what I think addiction to trading can be count as gambling addiction right? I hope they would be able to help such people.

Future/Leverage are indeed on the gambling side no matter how you do make out good analysis but still those would really be having that 50-50 chance whether its a good call or would totally wreck
your balance.In the word addiction itself is never been good, anything which is excessive is bad and would really result into disaster but if we do talk about spot day trades then i could say
that this is much more worth rather than on playing gambling itself.You cant really make out some comparison since both does have different level of risk.

Trading can be a gamble because we are trying to risk our funds to winning higher more but the difference is gambling does not require too much deep understanding just understand how the game works and how to counter your enemy or the game itself, in trading you need to understand the market, how it works, what are the possible signal to get a precise decision to risk your money. Still i prefer the skill base to risk than being dependent on my faith.

[Luzin]

It's too extreme to call day trading the same as gambling addiction. I don't agree, it might look similar but I think it's different. indeed they are both guessing, but day trading has a strong foundation through technical analysis, and that may not be in gambling. Maybe the addiction you mean is an addiction that ends in loss. Actually day trading has a technique that must be mastered, especially emotional control. I think if you have it all will be fine.