Quit trading discussion thread

[stadus]

That's a good piece you have there. Though it might not be as easy as you think, it is still good to, at least, follow/practice, as trading and all other things that are psychological are not easily approached with a certain blueprints.

We've seen some failing and devastated traders who later found their secret sauce, and we've seen many of them who would never find it, so I believe, above all things, as we are all finding the right system, we should, above all, work on limiting our risks and embrace adequate account management. Anyone limiting their risk while they try their luck in trading will have both good and bad days, but the bad days will not be as bad to warrant devastation to their finances.

It only tells that trading is not for everyone. Some are consistently good at it, while others are obviously enduring the losses while they are learning to navigate the trading market. But at the end of the day, there are just traders who never fit in trading, so let's be realistic here, quit trading and find another side hustle that will guarantee profits, even without consistent losses at first.

Trading is good and is certainly more profitable compared to just investing alone, but trading will also make you poorer than ever especially if you realized late that you're not supposed to stay trading in such a volatile market.

[Karl_3000]

Trading is good and is certainly more profitable compared to just investing alone, but trading will also make you poorer than ever especially if you realized late that you're not supposed to stay trading in such a volatile market.

Trading is not good the way you said it, many people will trade to only fail. The problem about their failure is that they will not accept it but they will continue to trade and they will lose, hodling is profitable than trading for most people. I was taught how to trade few years ago but it was a terrible thing for me. One bad thing about trading is that you will use demo account make unreal money but when you use your money account for it emotions will make the trader lose. If you start holding bitcoin you will see how it is profitable during bear market just hold and keep holding in time like this and wait for 3 years.

[yhiaali3]

Thank you for all these helpful hints. I have suffered from most of the problems you mentioned in these hints and I am still trying to get rid of some of them. I have become somewhat addicted to trading and whenever I decide to stop I find myself going back against my will.

My main problem is chasing winning coin trends on Binance, which causes me to lose every time. So I programmed a simple Chrome extension that disables the "New" and "All" tabs on the Binance platform, so that when I click on them, instead of the list of coins appearing, a message like "Beware of risk or gambling" appears to warn me of the risks, and I have indeed found it useful to me so far.

[Don Pedro Dinero]

It’s interesting to see this thread coming from someone I had a bet with—which he lost—that arose from a debate on this very topic. For retail investors, trading is a terrible idea; it’s like putting your money on the table just to burn it. The problem is that many fall into the marketing trap. There are plenty of influencers paid by firms who sell you the idea that with a little capital and some learning, you’ll be able to live a life of luxury by executing trades from wherever you like.

The reality is that a retail trader is competing against high-frequency algorithms and powerful AI used by hedge funds, as well as sufficient capital to move the market.

But it’s exciting. The safe way to make money—which is long-term investing with DCA—doesn’t sell as well, because it doesn’t generate as many commissions, so it isn’t promoted. And it’s much more boring.

[Alphakilo]

Thank you for all these helpful hints. I have suffered from most of the problems you mentioned in these hints and I am still trying to get rid of some of them. I have become somewhat addicted to trading and whenever I decide to stop I find myself going back against my will.

My main problem is chasing winning coin trends on Binance, which causes me to lose every time. So I programmed a simple Chrome extension that disables the "New" and "All" tabs on the Binance platform, so that when I click on them, instead of the list of coins appearing, a message like "Beware of risk or gambling" appears to warn me of the risks, and I have indeed found it useful to me so far.

Am sure you are  proud of your achievements a far in countering the addiction of trading instead of seeing it as gambling and treating it as such. A disciplined approach is what's important in the end to understand ones psychology and act accordingly and that's what you have done so far without using someone else's tools but your knowledge and wits.

[Doll2233]

We all discuss and love to talk about trading strategies and indicators, but none of us want to have a conversation about trading's dark-side about its addiction. And you are completely right about how trading addiction disguises itself.
People chasing their dopamine, staring at the screen for twelve hours straight and calling this TA. And all this is rubbish as long as we can't control our thinking.
And the point about sleep is true waking up at 3 AM and checking exchange app, you are either massively over-leveraged or have a serious gambling problem. Adding friction is the best advice to break an impulsive habit.

[|MINER|]

We all discuss and love to talk about trading strategies and indicators, but none of us want to have a conversation about trading's dark-side about its addiction. And you are completely right about how trading addiction disguises itself.
People chasing their dopamine, staring at the screen for twelve hours straight and calling this TA. And all this is rubbish as long as we can't control our thinking.
And the point about sleep is true waking up at 3 AM and checking exchange app, you are either massively over-leveraged or have a serious gambling problem. Adding friction is the best advice to break an impulsive habit.

You have pointed out a important things here.

Because if we do trading without the proper knowledge like without having the technical analysis skill and the fundamental analysis skill then I think that will be gambling instead of trading. And on that case there will be a greed in our mind and that is for making use money from small fund in a few days. And that later becomes highly addictive. Even in cases where the trader does not upgrade his analysis skills, he becomes addicted to gambling and loses money.

I think we should also identify these things in the first stage and as well need to quit asap.

[free-bit.co.in]

We all discuss and love to talk about trading strategies and indicators, but none of us want to have a conversation about trading's dark-side about its addiction. And you are completely right about how trading addiction disguises itself.
People chasing their dopamine, staring at the screen for twelve hours straight and calling this TA. And all this is rubbish as long as we can't control our thinking.
And the point about sleep is true waking up at 3 AM and checking exchange app, you are either massively over-leveraged or have a serious gambling problem. Adding friction is the best advice to break an impulsive habit.

You have pointed out a important things here.

Because if we do trading without the proper knowledge like without having the technical analysis skill and the fundamental analysis skill then I think that will be gambling instead of trading. And on that case there will be a greed in our mind and that is for making use money from small fund in a few days. And that later becomes highly addictive. Even in cases where the trader does not upgrade his analysis skills, he becomes addicted to gambling and loses money.

I think we should also identify these things in the first stage and as well need to quit asap.

Trading without knowledge is gambling. However just because you have the knowledge and know how to analyze the market doesn't mean you cannot become addicted to trading.

Trading addiction is no different from gambling. It's a matter of psychology and self control.

You can do your research and analyze the market before entering a trade. But if you are spending 12h a day staring at the screen, waking up at 3am to check your trades, or even worse, trying to win back your losses after every losing trade, those are already sign of trading addiction.

[|MINER|]

Trading without knowledge is gambling. However just because you have the knowledge and know how to analyze the market doesn't mean you cannot become addicted to trading.

Trading addiction is no different from gambling. It's a matter of psychology and self control.

You can do your research and analyze the market before entering a trade. But if you are spending 12h a day staring at the screen, waking up at 3am to check your trades, or even worse, trying to win back your losses after every losing trade, those are already sign of trading addiction.

I agree with your sentence that if one goes into trading without any analysis knowledge then it would be better to call it gambling instead of trading.

However, I disagree with your sentence where you directly said that there is no difference between trading addiction and gambling even for those who know trading analysis. Because for those who know trading analysis properly and have taken trading as their career, the more time they spend on analysis and trading, the more effort they put into their work.

I would say that what you said actually applies to those who basically don't know about trading analysis but still go into trading, and do all sorts of illogical, fabricated analysis of their own.

[free-bit.co.in]

I agree with your sentence that if one goes into trading without any analysis knowledge then it would be better to call it gambling instead of trading.

However, I disagree with your sentence where you directly said that there is no difference between trading addiction and gambling even for those who know trading analysis. Because for those who know trading analysis properly and have taken trading as their career, the more time they spend on analysis and trading, the more effort they put into their work.

I would say that what you said actually applies to those who basically don't know about trading analysis but still go into trading, and do all sorts of illogical, fabricated analysis of their own.

You need to understand that addiction is a matter of behavior and self control, not knowledge or understanding. That's why gambling addiction is not limited to people with little knowledge. Even well educated and knowledgeable people can become addicted.

The same is true for trading. Whether you know a lot about trading or not, if you spend too much time on it, become obsessed with it and lose control over, those are sign of trading addiction. And like any other addiction, it rarely ends well.

[johnsaributua]

You need to understand that addiction is a matter of behavior and self control, not knowledge or understanding. That's why gambling addiction is not limited to people with little knowledge. Even well educated and knowledgeable people can become addicted.

The same is true for trading. Whether you know a lot about trading or not, if you spend too much time on it, become obsessed with it and lose control over, those are sign of trading addiction. And like any other addiction, it rarely ends well.

In fact, addiction is currently more common among those who sometimes lack knowledge. Those with more knowledge will likely feel compelled to maintain or limit their behavior after experiencing the addiction.

This is the advantage of those who are sometimes able to control themselves and refrain from continuing with the addiction. This is because they only understand it and nothing more, resulting in the potential for harm by indulging in addictive desires that are not beneficial for our future. However, there are also those who sometimes understand everything, meaning that those with more knowledge often struggle to control themselves from experiencing the addiction.

However, some are still strongly tempted to indulge in addictions because they are unable to restrain themselves from following their desires. I believe that if we don't avoid the addiction ourselves, it seems difficult for others to do so. This is because our attraction to addiction often makes us emotional about what others say.

[Odogwu-Blockchain]

The same is true for trading. Whether you know a lot about trading or not, if you spend too much time on it, become obsessed with it and lose control over, those are sign of trading addiction. And like any other addiction, it rarely ends well.

In fact, addiction is currently more common among those who sometimes lack knowledge. Those with more knowledge will likely feel compelled to maintain or limit their behavior after experiencing the addiction.

You only overcome addiction when you are overly intuitive of your behavior towards trading. You gotta be known that gambling and trading is addictive and both has something that pushes users towards it because of the some certain near rewards. So when you are conscious of your excessive desire towards trading, a highly self control user will pause and retrace it's steps to track of his losses, gains, energy, attention and behavior and the effects of these within his environment especially his relationship with people.

Such trader who keep check these are prolly to beat the addiction that comes with trading, because he overly noticed the shift of energy and focus and attention towards what it taking his time and not getting better results but lot of losses. The ability to quit earlier and walk away is the strength that differentiate between the weak and strong traders.

[Pressurizedem]

Despite several warnings about trading, most persons will not still listen, and I totally understand why it is so difficult to adhere to instructions on quiting trading. This is because we see trading as a short cut to success, we see it as an escape route to poverty. Those who trades every day and are now very addicted to it knows that quiting is not easy, and even when you try to quit, you will till see yourself trading more than you ever imagined. This seems like a sickness because the more you try to avoid, the more you get drawn to it.
I was a trader before, but I cannot start telling anybody how I was able to escape from it, because everybody's story is not the same. Some persons will still do the same thing I did and will still  not stop trading. But in my case, it wasn't too hard, I know some persons may say I wasn't really addicted to it, I was, but I fought against it with discipline. I decided against doing any other activities on my phone, apart from making only posts on this forum. I was able to stay for one week, I lasted till two weeks and before I knew myself, it was already a month I looked at the trading chart. Now, I can say I have been able to stay without trading.

[Finebone]

Trading is good and is certainly more profitable compared to just investing alone, but trading will also make you poorer than ever especially if you realized late that you're not supposed to stay trading in such a volatile market.

Trading is not good the way you said it, many people will trade to only fail. The problem about their failure is that they will not accept it but they will continue to trade and they will lose, hodling is profitable than trading for most people. I was taught how to trade few years ago but it was a terrible thing for me. One bad thing about trading is that you will use demo account make unreal money but when you use your money account for it emotions will make the trader lose. If you start holding bitcoin you will see how it is profitable during bear market just hold and keep holding in time like this and wait for 3 years.

What you said here was a total reflection of my past trading experience, where I will make a lot of money when trading with demo accounts, but the moment I start trading with real money, that is when it would be like calamity has struck, it would be from blowing this account to the other, because I wasn't able to tame my emotions then, but the moment I started trading with only what I can afford to lose, that was when I started doing things in the market the perfect way because I was no longer trading with my emotions turned on to the highest. So I believe that most of the trading strategy we are using to trade is not that bad, it's just that lack of emotional control and poor psychology is the main reason most skilled traders are still not profitable in the market today.

[Comeacross]

Trading is good and is certainly more profitable compared to just investing alone, but trading will also make you poorer than ever especially if you realized late that you're not supposed to stay trading in such a volatile market.

I agree with this. Trading is profitable when you are very good at it. Emphasis on the very good, and it is quickest way to become poorer if you're trading by chance. But I'm not comfortable with the way you put it knowing that people especially the greedy ones mostly focus on the positive side will find this encouraging to trade. It's not because they're good traders but because you say it's more profitable than investing alone. They're always looking for a slight chance to push their narrative even if they have to regret later.