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

[Timelord2067]

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.

If ever a news article could be branded as fake news it would have to be the above far fetched headline.  People with an addiction, be it booze, drugs, gambling... even banking the house and car on the stock market are prepared to blame just about anyone, or anything for their addiction ... except themselves and their greed/lack of control.

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[pawanjain]

That's quite interesting to know traders are getting addicted to trading as well. I knew that gamblers have addiction problems with gambling but this is new.
Even I have read that trading is often compared to gambling and this scenario is just proving the same.
I hope those gambling helplines are actually helping those traders who are calling them for help.
If otherwise we should be having a new category of helpline numbers for people who can't stop themselves from trading.

[geegaw]

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.

This cannot be called an extreme, this is just the truth and situation that most of our eyes see as day traders are getting more exposure to the market with gambling methods, rather than highly trained techniques, it is worth noting that the spot traders demand too much optimization so they approach and accelerate the speed of time with leverage. Once the flow is chaotic, it is also a depiction of the day trader's introspection, too many intersections can form a gambling addict, with no sense and adjustment of the habit that will go out of control.

[Questat]

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?*

Not really that far and I take trading is just like the same about gambling. For the fact that gambling doesn't rely on luck but also on knowledge and skills, the same thing we need for trading, and sometimes we just wish for some luck for a better trade. Maybe if we are in the lottery, that consists of luck only but we are not talking about that, we're talking about gambling in general which shows how important to have those things (knowledge and skills). Well, of course, it was in the different strategies and market applications.
But if we talk about addiction, that is not the thing I look at between them. I'd never find such comparison as it was easy to stop trading than in gambling addiction.

[sujonali1819]

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 think it was compared by thinking the risk of gambling and day trading. The chance of making profit by day trading is really low I think and sometime trader become addicted in it when they lose for some days in a row. On the other hand in Gambling risk is also high and chance of making profit also low. For why maybe they compare on both of them.

[Cling18]

Both have risks so I must say that they're mostly alike. However, day trading needs skills and knowledge about technical analysis and they mostly rely on their speculations based on the movement of the market. Gambling is mostly based on luck and it doesn't require much skill but the addiction to it could only be the same. Things will still depend on how an individual would keep himself from falling into the trap of addiction.

[KTChampions]

Both have risks so I must say that they're mostly alike. However, day trading needs skills and knowledge about technical analysis and they mostly rely on their speculations based on the movement of the market. Gambling is mostly based on luck and it doesn't require much skill but the addiction to it could only be the same. Things will still depend on how an individual would keep himself from falling into the trap of addiction.

I don't believe in technical analysis, even in the stock market. Correspondingly, technical analysis generally in cryptocurrency looks even more dubious to me. And certainly such an analysis looks doubtful for insignificant periods of time (such as intraday trading). Do you really think that these completely random price fluctuations, caused sometimes simply by the actions of individual traders, can be predicted? This is gambling in its purest form.

[zanezane]

It's somewhat connected though so it's not really an unlikely thing to happen, I mean people compare trading and gambling as a same thing as they both have risks involved in them and I do think that if the traders that uses that helpline, why no? If they need help, then give it to them.

[FatFork]

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.

If ever a news article could be branded as fake news it would have to be the above far fetched headline.  People with an addiction, be it booze, drugs, gambling... even banking the house and car on the stock market are prepared to blame just about anyone, or anything for their addiction ... except themselves and their greed/lack of control.

Hahaha, that's a good point. I just read that part in the original article and decided I didn't need to read any further.
Journalists often twist the words of experts to support their crazy theories in order to prove a point.

[Ararbermas]

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?*

well we can really say that day trading is like a gambling because in just one mistake you can there will be a massive losses especially if you can handle your emotions while trading. but for me in my opinion it depends to be honest, wherein the situation of the market is it's totally in bullish mode or bearish, because if market is on bullish there's no need to worry if you made mistakes because you can hold in order to recover your lost in just short period of time because surely it will goes up again, unlike in bearish that you don't know when it will gonna came back to your buy order just ti recover your losses because when it comes to that situation there's a lot of false breakout, so if you cannot hold you cannot hold your emotion for long time of course there's a massive losses. So it depends for me in my personal opinion

[Timelord2067]

Hahaha, that's a good point. I just read that part in the original article and decided I didn't need to read any further.
Journalists often twist the words of experts to support their crazy theories in order to prove a point.

With a summation such as that, there really isn't any need to read any further.  Cherry picking one or two words (or a phrase) and presenting it as fact is what gives journalists their well deserved bad names.

Check out the movie Absence of Malice.

[johhnyUA]

Day trading and gambling are not the same, but in fact they are that different, but people are making it the same. In trading, you have to analyze the market before trading, it is not a game of luck for experts but how to just make money, but gambling is completely about luck, taking the team that best qualify to win does not mean a bet can not be lost whyole gambling like dog and horse racing, dice and roulettes are completely based on luck.

Opposite to my point of view 
"Market analyze" is always the same as "i'll bet on 3 red" because as you don't have full market data you can't do right conclusions. So trading without full amount of data (which you never obtain, it's impossible) is very close to gambling.
.............

Trading and gambling are though different but they are still also similar, more people that gamble or trade make losses than win.

From that point of view we can state that Youtube is very close to gambling, because most of youtube blogs/vlogs are not popular and only small amount of people are popular youtubers

[add1ct3dd]

It's somewhat connected though so it's not really an unlikely thing to happen, I mean people compare trading and gambling as a same thing as they both have risks involved in them and I do think that if the traders that uses that helpline, why no? If they need help, then give it to them.

This is good talk because I already have talk in different groups and channels about this, and we never have any positive end of this, every one is going to talk for his own sack, but one thing is sure mostly feel these both have similarity because both have risk and both can bounce back any time without any prior notice.

But one thing is very important that when peoples start this trading professionally they have done their own strategies for long term because they have all things in their hand, and they understand how to manage but in gambling it's never been works you can't go with strategies mostly it's happen through luck and this can break you any time without any serious trouble.

[Oshosondy]

From that point of view we can state that Youtube is very close to gambling, because most of youtube blogs/vlogs are not popular and only small amount of people are popular youtubers

Everything in life is about gambling, but there is this specific type called gambling which I do not need to expatiate on because everyone know that already. Comparing this gambling like casino, sport, horse racing, dog racing and such on gambling sites to trading is what this topic is focus on, life itself generally is about gambling, but not this general type.

[electronicash]

if he buys ETH at $3600 and then sells at $3300 because his speculation went wrong then he is a bad gambler as much as a trader. i guess it's fair to call a hotline since he calls it gambling anyway.

Let me be specific, I am not talking about margin, future or any type of leverage trading but just only spot trading. You know that if someone lose money to gambling, he lose it forever, but many traders are panic traders, without no leverage, some will first be losing, the price of the coin will be increasing back to the extent it will increase and the trader will later gain. Gambling can be all-or-non while trading is different in this way because someone can be losing but later gaining.

Some people are using trading to gamble, these people are beginners, some do not analyse market but just trade the way they like, this is gambling. But for professional traders, they aren't gamblers even when they are losing, there is still chance that the trade can go other direction and favour the trader, but if gambler lose a game he lost it and can not be reversed. I am not talking about binary option because binary options is just pure gambling.

they analyze the market actually. if you look at the forex traders engaging in binary trading options which somewhere along the line of gambling, they read charts and understand how to use indicators and predict the market so well. it's still called "binary trading" though but very close i suppose.

same with spot market, many will buy low and sell high in the hourly char and sell whenever they see price is overbought. they will call it an accumulation. if they panic while it's dropping and the chart can be confusing whichever the trend will go, they sell resulting in lesser coins.

[Mpamaegbu]

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?*

The comparison isn't valid or fair. IMO, both activities are poles apart. Even though I acknowledge that trading is speculative in nature, there are guides as navigation tools called indicators to guard traders. I don't see that type of guide in gambling which rely solely on pure luck. From my little school boy experience of gambling, those who indulge it depend on chance to win. It's always an infinitesimal percentage that often gets lucky to win. As gamnlers struggle to win back what they've lost, the addiction to it sets in. They never eventually get to win back their losses, anyway. The only traders that would see trading as gambling are traders who think there are shortcuts to success or think trading is a Get Rich Quick scheme. To be frank, it's very stressful day trading. Traders should move on to swing and position-trading and save themselves the hassles of always watching paint dry.

[bitgolden]

Gambling addiction line could be a little extreme of course, but it is still quite the same logic for many people. When you start trading then you are doing something that you would probably not do normally, which is putting your money at risk, which is the only part that is similar to gambling.

If you also can't stop even while you are losing and keep doing it over and over again and keep losing money then it would become the second part that is similar as well, that is not inherit to trading, you could actually profit if you are good compared to casinos where you are destined to lose if you gamble long enough. However, if you fail to do it and keep losing for a very long time and end up with nothing then you could probably call the addiction line to get help. I will always support asking for help, it is the start of getting better in the long run.

[otundebis]

Cryptocurrency is an asset striving to provide solutions to myriad of problems from finance to counterfeiting, entertainment to gaming,  and the new kid on the block,  defi and metaverse.  Trading Cryptocurrency is not gambling,  the presentation of Cryptocurrency as a fast money making is!  Many people were made to believe that they can make quick money trading and investing in Cryptocurrency when in actual fact,  they were just gambling. Cryptocurrency is far away from gambling!

[LUCKMCFLY]

Both have risks so I must say that they're mostly alike. However, day trading needs skills and knowledge about technical analysis and they mostly rely on their speculations based on the movement of the market. Gambling is mostly based on luck and it doesn't require much skill but the addiction to it could only be the same. Things will still depend on how an individual would keep himself from falling into the trap of addiction.

You are right, although gambling is a very different activity from trading, many tend to confuse it, it is for this reason that many traders have many losses when they start, I think the same, gambling leaves almost everything in the hands of luck and randomness, while that in trading the degree of knowledge that the person has determines their success rate in the activity.

If we take into account by simple inspection, I think that there are many more cases of addiction to gambling than to trading, of course the figures for both can currently turn out to be large, but due to the pace of life we are living, it is known that the safest direction It is through the digital world, and when one talks about money and its ways of doing it, both gambling and trading are highly dangerous to lose money in a very simple way.

[michellee]

Cryptocurrency is an asset striving to provide solutions to myriad of problems from finance to counterfeiting, entertainment to gaming,  and the new kid on the block,  defi and metaverse.  Trading Cryptocurrency is not gambling,  the presentation of Cryptocurrency as a fast money making is!  Many people were made to believe that they can make quick money trading and investing in Cryptocurrency when in actual fact,  they were just gambling. Cryptocurrency is far away from gambling!

People need to change their perception that crypto trading is a fast way to make money because that needs many things before earning money from trading. They need to learn about trading itself and master every lesson to be able to make a profit. That is the only way they must do and to avoid that crypto trading is the same as gambling. If they do not learn anything, maybe that can be considered gambling because they only guess what coin they should buy or just follow the other people's suggestions.