When Trading Becomes Addiction: Should I Intervene or Let Go?”

[Awaklara]

This serves as evidence that trading behavior can also deviate and lead to addiction. We may be interested in trading, but we must set limits for ourselves in trading. The first mistake here is the lack of control over financial management. So your uncle does not know the actual amount of capital he can manage in trading. 
Telling him to stop is certainly good, but we know it won't be easy for those who are addicted to quit. They feel great and are in control of trading, so they do not hesitate to trade everything they have.

[Big Dirams]

This serves as evidence that trading behavior can also deviate and lead to addiction. We may be interested in trading, but we must set limits for ourselves in trading. The first mistake here is the lack of control over financial management. So your uncle does not know the actual amount of capital he can manage in trading. 
Telling him to stop is certainly good, but we know it won't be easy for those who are addicted to quit. They feel great and are in control of trading, so they do not hesitate to trade everything they have.

When trader becomes addicted and start losing control over his emotions and feelings and allow the market trends or movement play with him or tempt him then such trader can easily regrets his decisions and face alot of regrets and loss. As a trader one need to make sure that he has good habits of making limitations and boundaries prohibit for himself so he will have better control of his decisions in the trading market.
 The best and suitable thing a trader can do for himself is having good and strong control of our emotions and feelings and at the same time one should apply good management to his capital and take advantage of the market when necessary.

[Kasabus]

You are right when you don't leave his side. But honestly, this kind of problem will not be solved just by staying on his side and advising him on what to do or what not to do.

My point here, you should convince him to see an addiction counselor or addiction psychiatrist since his way of thinking has already been affected. If you leave that untreated, his condition will get worst especially that his access to trading is still there. Unless if he has no money and no property to sell or anything that could bring money, he will definitely stop to trade, but he will probably turn crazy that time thinking on some means how to trade.

[YOSHIE]

When Trading Becomes Addiction: Should I Intervene or Let Go?

To advise those who are addicted to crypto trading, there are several things you need to do in general, the main thing you do is communication and a gentle approach is important, don't judge immediately, you're afraid he won't accept your advice.

When dealing with someone who is addicted to crypto trading, you should not immediately tell them to stop, you need to understand and listen to their perspective and advice and direct them to credible and educative sources of course in a more high risk direction and more importantly explain the risks of trading objectively, that there is no guarantee of fixed profits in trading.
One more thing, don't forget to take a religious/spiritual approach if necessary and consult with a psychologist or therapist if that's what you do, I'm sure you don't need to tell them to get out and stop trading they will get out on their own.

[Zigabel]

My questions are:
→ Am I wrong to tell him to get out of the trading life in this situation?
→Am I asking for something unreasonable, or is this actually a serious red flag?
Honest and realistic opinions would really help.

Honestly, i see absolutely  nothing wrong with asking him to leave trading at the moment, if he continues with this supposed trading, he may end up loosing even all that he's got now, he can temporarily quit for now, get some help via therapy and then if he really wants to go back into trading again, he will need to make sure that this time, he is getting a course, study as much as possible and equip himself with the needed knowledge to trade better, he will have to employ the rule of studying more and trading less. if he trades more and studies less, he may have to keep learning from his mistakes which is considered the hard way.

You are not wrong to ask him to stop trading now, this is why i always debunk the idea and perspective that everyone can trade, the truth remains that actually not everyone can. some persons are not built to even train themselves to attain the kind pf discipline that is required to trade. so if they are going into trading, it will not be long and they will get burnt out.

[dunfida]

My questions are:
→ Am I wrong to tell him to get out of the trading life in this situation?
→Am I asking for something unreasonable, or is this actually a serious red flag?
Honest and realistic opinions would really help.

Honestly, i see absolutely  nothing wrong with asking him to leave trading at the moment, if he continues with this supposed trading, he may end up loosing even all that he's got now, he can temporarily quit for now, get some help via therapy and then if he really wants to go back into trading again, he will need to make sure that this time, he is getting a course, study as much as possible and equip himself with the needed knowledge to trade better, he will have to employ the rule of studying more and trading less. if he trades more and studies less, he may have to keep learning from his mistakes which is considered the hard way.

You are not wrong to ask him to stop trading now, this is why i always debunk the idea and perspective that everyone can trade, the truth remains that actually not everyone can. some persons are not built to even train themselves to attain the kind pf discipline that is required to trade. so if they are going into trading, it will not be long and they will get burnt out.

There are indeed times that you can be addicted to trading on which this is actually true specially when you are making up some profitable trades but the wrong thing on here is that there are those individuals who do end up on becoming gamblers rather than on becoming traders on which just because of their emotions on which it causes up for them to have those issues along the way specially when they are trying out to chase up on what they have lost earlier on which this will definitely be that making that huge impact in regarding into your trading. If you arent that good when it comes to self control and moderation then becoming a trader would be that so hard. Its always important that you do know your limit and if you do find out that no matter how you do trade and made out some analysis but still losing then its normal to have some break and go back into your losing trades and make some analysis into it rather than on rushing up yourself on trying out to recover on what you have lost. Majority will be having this kind of phase on trading but to those who do able to recover are the ones who would be able to become good traders later on.

[Finebone]

My questions are:
→ Am I wrong to tell him to get out of the trading life in this situation?

No, you are doing the right thing.
You made mentioned of him being a drug addict, so if that it's true, he should be taken to a rehabilitation center because his stubbornness is not done from the place of sanity, because if he is truly sane, he would have reflect back and noticed all the pains and losses trading have brought upon his life. Because for the months I have been into trading, I have come to understand that if you take trading as your only source of income, you are heading toward financial destruction, since you will likely trade in a desperate manner if you are serious need of cash.
So due to the point it has gotten to, playing cool over it is no longer good, because it might gets even worse, that's why i will take him to a rehabilitation center by force, in  other to free him from drug addiction first, after that he might think reasonably towards trading.

[Mpamaegbu]

My questions are:
→ Am I wrong to tell him to get out of the trading life in this situation?
→Am I asking for something unreasonable, or is this actually a serious red flag?
Honest and realistic opinions would really help.

Let me respond to you based on your outlined questions. Otherwise, I would've picked out other issues in the post.

– Yes, you're wrong for telling him to quit what you know gives him hope and joy. Rather, what you should do is point him to getting the required skill set for trading or getting a mentor for him. Trading is real and profitable. It's just bad that a lot of people see it as a get rich quick thing. It's not. Yes, one can become rich through trading but it's not a shortcut.

– You aren't unreasonable. You're concerned about him. It's a reasonable thing to do when one genuinely cares about someone. You want to keep him off hurting himself but it doesn't seem right with him. I understand your uncle's part. I've been there too. So, I can empathize with him. Both of you are reasonable in your own ways. However, what you should do here is to see reason with him and push him (I guess you're older than him) to my first point above.

[Roseline492]

My questions are:
→ Am I wrong to tell him to get out of the trading life in this situation?
→Am I asking for something unreasonable, or is this actually a serious red flag?
Honest and realistic opinions would really help.

Nobody would see were there sibling is going on the wrong foot and they blame the person that call them back, so your response to him is good because if you leave him it might even come were he would be stealing from you since you have mentioned him to have incidents of steeling you were sure it was him, all the things he has done because of trading is a red flag of addiction, but have you make sure he has actually left his past life of drugs?, because if he still hides or go behind you to take it, it might also be the reason of his obsession in trading because his brain will be blink for reality.

[landheer]

I am very concerned to hear about your uncle's addiction to trading, which has resulted in more losses than gains. In my opinion, you are right to forbid your uncle from trading because if he continues, he will only suffer more losses. You did the right thing when you told your uncle to find another job, even if it does not generate as much profit, as long as the results are consistent. Trading can indeed be addictive, and I myself am also someone who is addicted to trading. However, in trading, we must control our emotions and definitely not make trading our main source of income because if we do, we will sometimes find it difficult to control our emotions. I also experienced losses in the past, but after those losses, I finally realized that trading is only suitable as a side job. Just imagine if we lose money while trading and, for example, we don't have any income in the real world, then we would definitely be confused. In my opinion, you can advise your uncle gently and suggest that trading is suitable as a side job if, for example, your knowledge of trading is still limited and you cannot control your emotions

[Iranus]

Let me respond to you based on your outlined questions. Otherwise, I would've picked out other issues in the post.

– Yes, you're wrong for telling him to quit what you know gives him hope and joy. Rather, what you should do is point him to getting the required skill set for trading or getting a mentor for him. Trading is real and profitable. It's just bad that a lot of people see it as a get rich quick thing. It's not. Yes, one can become rich through trading but it's not a shortcut.

– You aren't unreasonable. You're concerned about him. It's a reasonable thing to do when one genuinely cares about someone. You want to keep him off hurting himself but it doesn't seem right with him. I understand your uncle's part. I've been there too. So, I can empathize with him. Both of you are reasonable in your own ways. However, what you should do here is to see reason with him and push him (I guess you're older than him) to my first point above.

Conversely, I think the OP is not wrong to advise his uncle to stop trading and even stay away from it entirely. Because what is the point of honing trading skills when he no longer has any asset and no source of income?

As we always advise, everyone should have a stable job and income before starting to invest/trade. Because trading is very risky and there are no guarantees, and it should not be considered a primary source of income or relied upon entirely.

In this case, what OP's uncle need is a job and income before he can do anything else.

[jaberwock]

Seems like the problem OP had (well his uncle) wasn't really about trading, it's about someone who just doesn't know how to trade, but still trades. Normally when someone trades, if they are bad then they learn and become better, if someone has been trading consistently for 2+ years and they are still losing then that means the person has failed to learn.

This isn't some "we should not trade" type of thing, we should trade if we want to, but we should learn how to trade, and if we can't then we should stop. That uncle failed to learn after so many mistakes, that means he has no idea how trading works, he probably tried to learn but he probably failed. So this fault is not about trading, or addiction, it's failure of learning.

[landheer]

This is not correct at all. Did you make making any findings before saying this is true? Trading addiction and gambling addiction are very similar. Both are also not good at all but I think trading addiction is worse because trading can take people's brain to be more active as the people focus on their computers.

If you are not addicted to trading, do not just make conclusion but make findings about it online or go to hospital or rehab centers to make findings about it.

If their addiction is not similar, why did you said people should trade with the amount of money that they can afford to lose.

You are totally right, its true that people learn everyday so I have learned a thing or two from what you just explained and I appreciate that but if you checkmate very well, you will notice that the two has a slight difference in the essence that one can manage trading addiction by being more strategic and skillful while in gambling is basically based on luck and chance, which can't beat the system due to housedged.

In my opinion, there is a difference between gambling addiction and trading addiction because gambling relies solely on luck, whereas trading does not. I can say that I am addicted to trading, but I do not make it my main source of income because if we rely solely on trading, sometimes my mentality becomes disturbed, and this is based on my experience. And yes, it's true that we can overcome trading addiction, and the key is to learn more about trading and the causes of trading losses, which are usually due to a lack of knowledge and experience. So, the point is that there is a difference between trading addiction and gambling addiction because gambling relies on luck.

However, if you are skilled at trading, it will be easier to make money. That's why many people become addicted to trading because they see that potential. In my opinion, Uncle Op's addiction to trading is also because he sees that potential, but it seems he doesn't have much knowledge about trading, which is why he loses more than he gains.

[Y3shot]

This serves as evidence that trading behavior can also deviate and lead to addiction. We may be interested in trading, but we must set limits for ourselves in trading. The first mistake here is the lack of control over financial management. So your uncle does not know the actual amount of capital he can manage in trading. 
Telling him to stop is certainly good, but we know it won't be easy for those who are addicted to quit. They feel great and are in control of trading, so they do not hesitate to trade everything they have.

One of the mistakes traders make in trading is that they think trading is all about making a profit. There are other important things for a trader to exhibit. A trader is supposed to understand that there must be self-control, and if one is unable to control themselves, there are other characteristics that play a positive role in trading.

Trading limits are very important, and when one does not adhere to limits, there are chances that they can lose more than they can afford, which may lead to financial ruin. Having a trading limit is crucial because fund management is very important in trading.

[8rch7]

You are doing right to your uncle get out awhile from trading and must manage well for the next time how to avoid much loss, seems something wrong with your uncle which kinds trading in cryptocurrency at spot or future trading? If trade at spot I believe although price coins get down still have fund and cut loss maybe get back the capital around 40% to 60% depend how much loss, but if your uncle trade at future seems easily loss all much money and already sold everything he has.

Make friendly approach with your uncle telling him get out awhile from trading and looking for the opportunity get capital back, stop around few weeks or few months learning more what the mistake already make until has loss much in cryptocurrency trading.

[Mame89]

Trading is not by force or a do-or-die affair; if it is not working for you, it is better to stop trading. When the outcome of trading is not encouraging and impressive, it is better to stop trading because the outcome of losses in trading means there is no knowledge in what one is doing.

Generally, when one keeps having the same unimpressive results, it means one should quit and think of the best decisions to make, whether it is starting all over to learn or totally quitting trading. Consistency in trading without having better knowledge won't change anything; instead, it increases the rate of losses.

It's important to remember that trading isn't forced and doesn't require you to trade all the time. Sometimes you should stop when you feel like you're no longer good at trading because trading isn't something to be forced. This is also why many people say trading is for everyone but not everyone is capable of trading responsibly.

Trading can be addictive, and it's true. When you trade without evaluation and without controlling your emotions you'll become addicted to trading which can end in bankruptcy. Trading addiction occurs when you become greedy don't manage your time and don't understand risk. Therefore if you experience the same situation as the OP, it's best to stop. You might not be suited to trading; perhaps you should switch to long term low risk investments.

[Findingnemo]

Trading is not really for everyone, so if he not making progress and the worst he is losing his property and losing his family, then it is better for him to quit no matter what he is doing and try to do something that get him a stable income that is enough for him and whoever depend on him to survive. But we can't really make them do it, they need to realize it, we only can help them to realize and advice what he really did with the trading instead of making money.

[beerlover]

Nobody would see were there sibling is going on the wrong foot and they blame the person that call them back, so your response to him is good because if you leave him it might even come were he would be stealing from you since you have mentioned him to have incidents of steeling you were sure it was him, all the things he has done because of trading is a red flag of addiction, but have you make sure he has actually left his past life of drugs?, because if he still hides or go behind you to take it, it might also be the reason of his obsession in trading because his brain will be blink for reality.

The problem is that, when you see someone making a mistake, and call them out about it, things could go south. Even someone who is hurting themselves by making bad trades, will not want to hear a friend or even a sibling to tell them they should stop and doing wrong, because they will end up with making them look bad.

Someone who trades and loses so much, will not want to hear that they are doing a bad job, they want to hear they can do better, and when you tell them to stop, you are telling them they are bad, and most people will react badly to that. Not that you are doing something wrong, you are 100% right to do that, but unfortunately human brain does this. Even drunks and drug addicts respond bad when you tell them to stop.

[Japinat]

I guess its not about should you intervene or let go, because even if you stay on your uncle for the rest of your life, if he won't change and admit the fact that he is no longer in good shape, then nothing will happen to him, and your suggestions and advices will remain unheard. This made me think why you can't blame his family leaving him.

What you actually need this time is a professional help coming from an addiction specialist, so that your uncle will be given treatment and therapy that will heal his addiction with trading and the greed to make big and instant money. This is a proof that trading is not for everyone.

[Maslate]

Honestly, I would be just as confused as you if I were in the same situation as you. Because you have already advised him. And I think giving advice too often will not be good for your relationship in the future. And I'm afraid he will become even more closed off from you. I think you shouldn't tell him to stop trading. But maybe try giving him advice that he can still trade but he should also look for some kind of side job that can bring him income. And you can tell him not to give up. With the job he might get, he could potentially recover using the capital from his salary. Sometimes offering hope is better, even if it's just sweet words that may not become reality. But what's certain is that he needs to gradually reduce his trading activities. Without needing to stop completely.

For someone deeply addicted like his uncle, I don't think his piece of advices and suggestions will still work.

His uncle is already closed-minded and is only focused to trading, and he won't get rid of it if he can't recover his huge losses and  make some profitable gains. So my advice is short but direct to the point, he needs a serious help from those medical practitioners that deals with addiction. If he can be put in a rehabilitation center, much better so that he will not ruin his life with his trading obsession.