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

[electronicash]

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.

if they trade altcoins, it's a sure win to lose. altcoin promises made them invest in crypto.
it's also what drives people to cryptocurrency because they see crypto trading as the fastest way to make money. the motivation to earn more drives them to go into crypto trading and then addicted to it. they wouldn't be calling for help if they are winning but if they are losing that will make it look worse. it likely affected their daily lives that's why.

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[Kittygalore]

That's not surprising, given how we compare gambling and trading and deciding that it's all too similar with the risks that they're involved in, I think that there's nothing wrong with what they're doing, they're a helpline and if someone asks for help, you have to help them right?

[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.

if they trade altcoins, it's a sure win to lose. altcoin promises made them invest in crypto.
it's also what drives people to cryptocurrency because they see crypto trading as the fastest way to make money. the motivation to earn more drives them to go into crypto trading and then addicted to it. they wouldn't be calling for help if they are winning but if they are losing that will make it look worse. it likely affected their daily lives that's why.

If they motivate themselves to earn more, they must know that earning more needs more learning, which means trading will need skills. Trade altcoin can give them money if they do it right and are not in a rush. If they become addicted to trading and have the skills to trade, they will make money from trading and that will be better for them to trade than to gambling because, in gambling, they will feel hard to earn money than trading. They need to realize that trading can give them a chance to make money, especially if they are willing to learn more about trading.

[XCANA]

If traders felt the same way gamblers are feeling then the difference between day traders and gamblers is not that much since been addicted doesn't necessarily mean it only happens to gamblers. The anxiety players to make money both in day trading and Gambling is driving force behind one being addicted and that can happen to anyone in trading or playing gambling.

[Kimonoe]

If traders felt the same way gamblers are feeling then the difference between day traders and gamblers is not that much since been addicted doesn't necessarily mean it only happens to gamblers. The anxiety players to make money both in day trading and Gambling is driving force behind one being addicted and that can happen to anyone in trading or playing gambling.

Gambling is more synonymous with the luck factor, while day trading, I think it is more of a trading strategy to make a profit. We have set targets and cut losses, so this is not entirely based on luck. and I think the trader himself understands him better

[tvplus006]

...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...

Such people mostly represent traders who treat cryptocurrency trading like a casino. Those traders who adhere to the rules of trading and do not exceed the risks when opening deals will not face such a problem, since for them trading is one of the types of work, and not a way of entertainment.

[shield132]

There is a slight difference between trading and gambling. In gambling, you can get excitement and fun before losing but in trading, all the weight of all the world is on your shoulders, you are constantly under pressure, you may miss a night sleep to track the price (I had that moments). Once you lose 10% of your capital, then you need more than 10% rise to reach the original capital. If 2-3 loses are in a row and it's very, very usual, then you are becoming more nervous and the more nervous you are, the more mistakes you make. Finally, you are becoming addicted!

[RealMalatesta]

Those traders who adhere to the rules of trading and do not exceed the risks when opening deals will not face such a problem, since for them trading is one of the types of work, and not a way of entertainment.

Sticking to the basics of trading is not easier unlike how it sounds theoretically while everyone learns from books or videos. This is the reason, most traders do break the rules of trading by taking too much or risks and then start gambling with the markets. So, there will be no shocking on seeing traders are approaching addiction helplines. I have seen people who got addicted to trading in exact similar manner to how gambling addiction ruins one's life.

If 2-3 loses are in a row and it's very, very usual, then you are becoming more nervous and the more nervous you are, the more mistakes you make. Finally, you are becoming addicted!

I am not seeing any big differences on what usually gamblers do after losses from what traders do after losses. Losses->nerves->more losses->chasing losses->keep trying->addicted.

[tvplus006]

...I have seen people who got addicted to trading in exact similar manner to how gambling addiction ruins one's life.

It depends on the psychology of the person himself. And it does not matter where such a person turns out to be, in a casino or trading on the stock exchange, his views will not differ from this. In this case, he will trade exactly as if he is playing in a casino, betting on red/long or black/short.

[Emitdama]

It depends on the psychology of the person himself. And it does not matter where such a person turns out to be, in a casino or trading on the stock exchange, his views will not differ from this. In this case, he will trade exactly as if he is playing in a casino, betting on red/long or black/short.

I agree. People are treating both gambling and trading in similar manner just because of their own psychology.
If they are caring their financial things then definitely they will find skills to distinguish between trading and gambling. But, most people are lazy but greedy at the same time which is the reason they will never get time to develop their skills but going for trading how they are gambling and keep gambling for easy money.

[stomachgrowls]

It depends on the psychology of the person himself. And it does not matter where such a person turns out to be, in a casino or trading on the stock exchange, his views will not differ from this. In this case, he will trade exactly as if he is playing in a casino, betting on red/long or black/short.

I agree. People are treating both gambling and trading in similar manner just because of their own psychology.
If they are caring their financial things then definitely they will find skills to distinguish between trading and gambling. But, most people are lazy but greedy at the same time which is the reason they will never get time to develop their skills but going for trading how they are gambling and keep gambling for easy money.

Depends on someones psychology and treatment towards trading because not all would really be having that investors like kind of mind but rather being a gambler basing up with behavior.

Addiction is something can be applied in all sorts of things but you should know to differentiate which one is really worth to risk and which one is really just good for entertainment.

You should know on how to handle things so that you wont really be having some problems later on when things turns out to be bad.

[redsun114]

most people are lazy but greedy at the same time which is the reason they will never get time to develop their skills but going for trading how they are gambling and keep gambling for easy money.

If you're having only one emotional problem then probably you can come out of it but when you're having two problems which are related to your emotional failures then probably you will never find any appropriate solutions to recover from it. I mean being greedy and being lazy cannot be a simple emotional failures for any trader or gambler. They must need more attention and time to recover from it so that they could find opportunities to make use of trading and by leaving off gambling.

When you're not good in the emotion control then definitely you will get addicted even with trading. But unfortunately most people are thinking only gambling is addictive.

[Rengga Jati]

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?*

Once people can earn many profits of money from day-trading, they will be more interested and addicted to trading.
For a very professional trader, he can actually manage not only the emotion, risks, and funds, but also manage the time wisely. They can do trading at a certain time, by using time management, but still having good quality on trading. But of course, they can also manage themselves to other activities that make them still healthy for physically and mentally. Because there are still aware that trading is not the whole world, this is part of life.

But for people who are only concerning about getting much money and more money and they can earn it through daily trading, and moreover, they cannot control themselves to get good and wise time management, they may be addicted to trade more and more, without paying attention to the time.
I have some friends who do this day-trade. They cannot have good sleeping time, just focusing on the monitor, and really decreasing the quality time with family, with social, and also for the shake of their own health. It may be called a daily trading addiction.
But I cannot blame them because they may have certain purposes or cosndierations.

But for gambling vs trading addition, both may need to manage and help, but gambling may be worse.

[theseednet]

There are many clinics with programs to treat online trading addiction, from several years, from common one to very exclusive, this is not new unfortunately.

[enhu]

I wouldn't mind seeing some exchange support that is also providing trading addiction counsel. That's a new position from exchanges to fill in.

If this is going to be usual which users are going to be addicted to trading, a hotline for Binance trading addiction would be needed? It might be a stupid idea at first but probably going to make sense later when more users could not distinguish anymore which is gamlbing.

[markdario112616]

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?*

IMO Day trading has a strong similarity with gambling reason being that they can both become compulsive. I've seen day traders who can't go two minutes without trying to check the charts, even at fun events where one is meant to relax. To me that's an addiction and it's no different from gambling.

Well, that's the thing about it. Once, it gets to the system it can hardly go. Or we can say it's been a habit? for them, as far as I'm aware it's a must to actively checking the charts if you are into day trading. Since a missed trade could cost them a lot.

"I've seen day traders who can't go two minutes without trying to check the charts, even at fun events where one is meant to relax. To me that's an addiction and it's no different from gambling."

I somehow agree at some point and disagree at the same time. I'd agree that day traders are regularly checking markets for a possible trade even at any events. I'd somehow disagree on the addiction side, well let's say it's their full-time income source so I purely understand why they do it. But to compare in addiction on Gambling is quite a shot. Though are still a lot of argument in regards to habitual acts and addiction.

[so98nn]

That’s funny because last time I checked day trading is income source of many peeps in the stock market as well as newly emerged crypto space too. I don’t see that as a problem though article has counted it as problem. I mean if that’s the thing in crypto then why no one argued on the same in case of share market day trading. In fact many peeps are switching the day trading in share market to day trading in crypto space. This is because of volatility of the market which has been great essence for a day trader in terms of quick profits (losses too). If played carefully then it’s not a addiction but it’s whole new stream to learn about.

[blockman]

There are many clinics with programs to treat online trading addiction, from several years, from common one to very exclusive

There could be many clinics and helplines but there are many traders and addicted to gambling that doesn't want to expose themselves calling them or scheduling an appointment because they're thinking that it's embarrassing getting some help.

this is not new unfortunately.

Yeah, not new but still many deals with this problem and even if they needed help still many won't approach. The article might be describing a lot in numbers but I think they're still few from the many that hides this problem.

[Betwrong]

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.

By "fine" do you mean that you'll not lose a lot of money, or do you mean that with good emotional control you can earn money with day trading on the regular basis?

I personally think that emotional control, although necessary, is not enough. It's like in sports betting and poker, which widely compared to day trading in this thread, and rightly so, you need something more than just self control to be making money with those activities.

[barbara44]

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.

By "fine" do you mean that you'll not lose a lot of money, or do you mean that with good emotional control you can earn money with day trading on the regular basis?

I personally think that emotional control, although necessary, is not enough. It's like in sports betting and poker, which widely compared to day trading in this thread, and rightly so, you need something more than just self control to be making money with those activities.

It is obviously not enough, I do not know what he was saying but I can say based on what I have been doing so far I can say that it is definitely not something that would be horrible for people, it is definitely something that you would be able to profit from if you can have emotional control.

However it is definitely not enough, you need to be a good trader in order to make good returns as well, it takes a while to do that but you could do it nevertheless. I personally believe that I have emotional control but even with that I am not suddenly a good trader neither, I am a decent trader at best. So you need to learn how to trade very well on top of being able to control your emotions.