Quit trading discussion thread

[nara1892]

Trading addiction is actually very hard to fight because you won't know when you would use money that is meant for something meaningful to trade. I will tell you one story of someone whom I happened to know very well and he is a trader, when he was trading then he was actually making profits from it but at sometimes he would lose money. When trading is excessively then you gradually becomes a victim of trading addition which are very hard to control as it is just as gambling and when they got addicted they found it very hard to get rid of it. Again, as a trader who are even coming up should not be that leaving their funds on exchange as it could get them attractive to either want to trade again but when it is withdrawn from exchange they wouldn't be that pushed to go deposit and start trading again.

An addiction is something that you find difficult to stop and this is something that you do constantly, trading is actually something that takes a lot of practice and consistency, if you put in a lot of energy into it and become constantly involved does this make you an addict? Then I guess every profitable trader is an addict then. The only thing about trading that is considered to be excessive is overtrading which is caused by greed. After making profit or hitting a target some traders still continue to chase more, this is considered to be unwise.

It doesn't work quite like that, bro you first need to understand how addiction is defined. A successful trader isn't necessarily addicted, the benchmark isn't simply the amount of time spent on the activity. Addiction is when someone loses control yet continues the activity despite the negative consequences.
If a trader such as a successful one has a clear strategy and sound risk management, remains humble, and engages in trading over the long term, that does not mean they are addicted.

[Issa56]

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 won’t agree with you that said trading is more profitable. Both trading and investment are profitable, depending on how you venture into it, the amount of knowledge which you have before you start. Maybe because you are always making profits from trading frequently, and that’s why you think trading is more profitable than investment.

Whenever you are investing, you will have to wait for years before you will be able to make profits, but what you will make might be more than what a trader have made for years, and we all know how risky trading can be compared to bitcoin investment. Both trading and investment are profitable, just depending on the one which you decide to do.

[savetheFORUM]

Trading can be wonderful though however it is not actually for everyone so if what you have been getting compared to what you have been putting in is a far cry, then you are on track to quit and put your time into something else to worth your time. But if you are as passionate as I am in trading, I will  pause and review my trading pattern, loses and strategies then get to improve on the lapses found. There are no free lunch anywhere, sometimes the breakthrough we long for is just a step away and quitters never win.

This is why I stopped trading mostly; I still trade a tiny amount, but most of my money is not in my trading account. Not because I do not understand it; I have studied it, but the random changes in Bitcoin movements and even technical analysis are very hard to predict, and I try to do it at times, but I usually do not come up with what I desire. Long-term holding has always made me a good chunk of profit, so I do not feel the need for it.

Some traders do great jobs; I have known people who turned thousands into hundreds of thousands, even people who turned tens of thousands into millions. Those people should be trading because they know what they are doing, and there is nothing wrong with that. If you are good at trading, then you should be trading, and you should be doing whatever you want to do. However, if you are dealing with something that is not that crazy to do, then the best thing you should be doing right now would be that you are going to stop trading and keep on long-term holding, and that way you could still profit without having to deal with the troubles of trading may give you.

[CryptoBuds]

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 won’t agree with you that said trading is more profitable. Both trading and investment are profitable, depending on how you venture into it, the amount of knowledge which you have before you start. Maybe because you are always making profits from trading frequently, and that’s why you think trading is more profitable than investment.

Whenever you are investing, you will have to wait for years before you will be able to make profits, but what you will make might be more than what a trader have made for years, and we all know how risky trading can be compared to bitcoin investment. Both trading and investment are profitable, just depending on the one which you decide to do.

In theory, trading can be more profitable than investing because you can make money in the short term and potentially make huge return through leverage. That's why many people, especially newbie are more attracted to trading than investing.

But in reality, it's the other way around. Most trader go through losses, and many keep losing for a long time. Only a small number of trader can consistently make money. That's also why when a newbie ask for advice, most experienced people in the market will tell them to focus on holding rather than trying to trade.

[LogitechMouse]

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 won’t agree with you that said trading is more profitable. Both trading and investment are profitable, depending on how you venture into it, the amount of knowledge which you have before you start. Maybe because you are always making profits from trading frequently, and that’s why you think trading is more profitable than investment.

Whenever you are investing, you will have to wait for years before you will be able to make profits, but what you will make might be more than what a trader have made for years, and we all know how risky trading can be compared to bitcoin investment. Both trading and investment are profitable, just depending on the one which you decide to do.

Trading is more profitable. It's just that, it's more risky compared to traditional investing where you will just buy and hold an asset. Period.

I'll give an example. If you bought 100$ worth of Bitcoin in 2022 when it reached it's lows, and held it until the 2025 bull run and sold at it's peak, you could've at least made around x4 to at most x6. Now if you used that 100$ into trading, you could x4 or x6 your money in just a year or even in months PROVIDED of course that you're profitable already in trading and you're consistent in making money off of it. Trading is more profitable. It's just that it's more risky that's why many are losing money from it. Investing (buy and hold) look like more profitable for some because your chances of losing money is low, and the only time that you will lose your money is through capital depreciation or if you sold your assets and realized your losses.

Like what you said, both are profitable and it depends on the person and that's true, but that doesn't mean that trading is less profitable compared to investing.

[free-bit.co.in]

I won’t agree with you that said trading is more profitable. Both trading and investment are profitable, depending on how you venture into it, the amount of knowledge which you have before you start. Maybe because you are always making profits from trading frequently, and that’s why you think trading is more profitable than investment.

Whenever you are investing, you will have to wait for years before you will be able to make profits, but what you will make might be more than what a trader have made for years, and we all know how risky trading can be compared to bitcoin investment. Both trading and investment are profitable, just depending on the one which you decide to do.

There is a common principle in finance: the higher the risk, the higher the return, while lower risk usually means lower return. And as you admitted, trading is much riskier than investing. I don't think any investor would choose something riskier if they already knew it would give them lower return. So, in theory, trading can be more profitable. But in reality, it depend on the individual's ability.

By the way, I don't think you'll find any trader here who can make consistent profit

[Outhue]

This topic brings back insta memories this morning, I lost a very close cousin of mine to trading addict, he is someone I can't really do without, we are very close but all of a sudden he changed, I begged him to tell me what was going on with him but he wouldn't until I got fed up and decided to travel down to his place only to found out that he lost everything he made from trading.

It affected him so much that for weeks after weeks he couldn't leave his room, his mother and siblings can't even do anything about it because he isn't responding to them, I talked some senses into him and left but later on that evening he called back and asked for forgiveness because I was pissed, told him I have lost fortunes too and I live, but thankfully he got over it, he is no more in my country now he left for Canada and it's been 3 years already, I knew exactly how it feels when someone gets addicted to trading addiction, it's detrimental to health.

[TheUltraElite]

I guess trading can be an addicting thing for many people - often they will compulsively trade without understanding what they are doing, leading to losses one after another.

For such people it is indeed an addiction and getting over it is similar to gambling addiction. Like I suggest there as well, one needs to find out what they love to do and what they stopped once they started trading. Going back to your past will help find them and only those activities can consume enough time to keep them off their trading habits.

The people who are regularly trading/day trading need to really think if their methods are yielding any profit over time or not. Most people will lose money at trading and if not kept in control they will move to a stage where they are bankrupt.

[maydna]

If you feels trading is difficult and not be your place to make money, you should leaves your trading account in all exchanges you used and search for other ways to make money. Keeping your assets in custodial wallets is the thing you can do so you moves from traders to be holder/investors.

Be honest to their closest people is the thing for those who had trading addiction and find out the way to quit trading. Perhaps that is difficult as they admitting to tell the truth that can makes their closest people angry or feels not good but that is one of the solution to get a help from other people.

[citywise2]

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 won’t agree with you that said trading is more profitable. Both trading and investment are profitable, depending on how you venture into it, the amount of knowledge which you have before you start. Maybe because you are always making profits from trading frequently, and that’s why you think trading is more profitable than investment.

Whenever you are investing, you will have to wait for years before you will be able to make profits, but what you will make might be more than what a trader have made for years, and we all know how risky trading can be compared to bitcoin investment. Both trading and investment are profitable, just depending on the one which you decide to do.

If you know what you are doing, trading will always bring in more returns than investing it. Look at it like this, in the end  if the value of your asset appreciates, you will have not just your capital appreciating but also your earnings, but same cannot be said about your investment  where earnings are either fixed or tied to whether their is an appreciation or not. However nothing says that one cannot invest as well as trade some so to enjoy both world.

[crwth]

I think the reason this came up is that it's being treated like gambling. When you talk about gambling, we all know that it could lead to addiction. There should be behavioral tests to make sure that you are not addicted.

The same goes for the part where you lose money and want to get it back. That's gambling, basically.

You should be careful how you handle those things.

[Dr.Bitcoin_Strange]

I have hear people saying that they flipped $100 to $10k in one day or two days, that can be true for some pro traders but we can tell that such trading pattern is basically a gambling kind of scalping which works under probability, it's possible that a pro trader can come across a coin that is trending very well and they use it to take multiple positions and then double their capital but that kind of luck does not show up every day. What am driving at here is that if any beginner trader is thinking that they can just flip $100 to $10k in 1 day the way their mentor told, then they should stop dreaming and just quit before they get addicted on the process of chasing goal that is based on luck.

Flipping $100 to $10k is very common, the quiet truth that people never speak about is the guy who flipped probably have already experienced $10k to $100 in the past otherwise statistic wouldn't be majority of traders are losing.
It's cool sharing the big win, but I rarely see people share their big loss  .

Is not common, mate, matter of fact, I have not see a trader that did it in my presence so that I can confirm it's real, some of them only say it online and I know that most of them are lying. The only one I believed was from a trader who said he placed the trade and as he was moving in profits he added 3 more positions and slept off and before he woke up, he realised his total profit was around that $10k , which could be true or not. We know that some of this traders are liers. They throw big lies so they can be able to sell their trading courses to gullible beginners that desperate to make profit.

Some traders are ashamed to share their losses, especially those ones that likes to sell trading courses and strategy and also asks people to pay for subscription of their signal VIP group, they won't want to show their losses knowing that it will discourage people from buying their courses or subscribing to their group.

[Pandu Geddon]

If you know what you are doing, trading will always bring in more returns than investing it. Look at it like this, in the end  if the value of your asset appreciates, you will have not just your capital appreciating but also your earnings, but same cannot be said about your investment  where earnings are either fixed or tied to whether their is an appreciation or not. However nothing says that one cannot invest as well as trade some so to enjoy both world.

I originally did both, trading more regularly. But now I trade less often and allocate more for investing. 
It's not that I don't make a profit, but more about the time consumed when doing too many things. So now I only trade occasionally. 
I used to think that the profits from trading could be put into investing. But since the profits aren't that big, and when trading incurs losses they're quite significant, that scheme doesn't work well.

[Iranus]

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 won’t agree with you that said trading is more profitable. Both trading and investment are profitable, depending on how you venture into it, the amount of knowledge which you have before you start. Maybe because you are always making profits from trading frequently, and that’s why you think trading is more profitable than investment.

Whenever you are investing, you will have to wait for years before you will be able to make profits, but what you will make might be more than what a trader have made for years, and we all know how risky trading can be compared to bitcoin investment. Both trading and investment are profitable, just depending on the one which you decide to do.

If you know what you are doing, trading will always bring in more returns than investing it. Look at it like this, in the end  if the value of your asset appreciates, you will have not just your capital appreciating but also your earnings, but same cannot be said about your investment  where earnings are either fixed or tied to whether their is an appreciation or not. However nothing says that one cannot invest as well as trade some so to enjoy both world.

But what does "knowing what you are doing" actually mean? What exactly do you need to do for trading to really be more profitable than investing?

If trading were really more profitable simply because you know what you are doing, there wouldn't be so many trader losing money.

I don't really care what the theory says. The reality is that very few traders actually make a profits. Most people who make money and become wealthy are investors. So I also agree that trading isn't actually more profitable than investing.

[Webutxo]

If you feels trading is difficult and not be your place to make money, you should leaves your trading account in all exchanges you used and search for other ways to make money. Keeping your assets in custodial wallets is the thing you can do so you moves from traders to be holder/investors.

Be honest to their closest people is the thing for those who had trading addiction and find out the way to quit trading. Perhaps that is difficult as they admitting to tell the truth that can makes their closest people angry or feels not good but that is one of the solution to get a help from other people.

I don't think trading addiction is so bad like the way gambling are in nature, you can see a gambling addict and will not quit but let a trader lose all they have, they don't check 2 times before they quit trading. That's to to tell you that trading addiction does not fix one to something they are finding hard to do. If it does not work, they quit immediately and don't look back. The people that do have bad trading experience that do stick around are the ones that don't want to quit.

Trading is not easy job, if it's that simple I know many traders that today are going to be swimming inside money but it's because it's hard that is why few people do it. There is another thing that is not talk about, people with problem of manipulation, you can be careful enough with trading but you can not avoid trading manipulation because it exists in all market. The worst of them is in crypto trades, you can't avoid it.

[Donk1]

Well I think everyone sees trading differently, and the possibility of becoming successful could be in any way, whether you see trading as gambling or not. We almost certainly have to be aware of how we make our decisions. But where folks are getting it wrong in their mindset is thinking trading is fun especially inexperienced traders who just got into the market and are making little profits. To me psychologically, trading is boring just constantly staring at your screen for hours, and with TP and SL which helps us minimize our screen time. Still real trading is actually supposed to be boring and repetitive, because you as a trader are almost certainly going to be doing the same thing just with different approaches. So if your trades feel exciting, you are gambling, not managing risk .and due to poor decision making,he or she would be thinking that they can find a short cut around the market....

[Aanuoluwatofunmi]

This topic brings back insta memories this morning, I lost a very close cousin of mine to trading addict, he is someone I can't really do without, we are very close but all of a sudden he changed, I begged him to tell me what was going on with him but he wouldn't until I got fed up and decided to travel down to his place only to found out that he lost everything he made from trading.

What a pathetic story, a lot of people are interested in trading but couldn't afford the risk that may come with it as well, that you are able to make it with your first trade and earn some huge profits does not maintains we always go the same way, there is always a risk attached to anything we are doing and it is either we end up on the profit side or loss, but I still say this that there is no amount of obstacle we can face as challenge in life that warrant to lose a life.

[suzanne5223]

I guess trading can be an addicting thing for many people - often they will compulsively trade without understanding what they are doing, leading to losses one after another.

For such people it is indeed an addiction and getting over it is similar to gambling addiction.

Yes, trading addiction is similar to gambling addiction because trading addiction is closely linked to dopamine, which is triggered by traders anticipation for their trading hitting TP instead of SL.
The major problem of the trders are trading psychology, risk management, and adequate knowledge about the financial market.

The people who are regularly trading/day trading need to really think if their methods are yielding any profit over time or not. Most people will lose money at trading and if not kept in control they will move to a stage where they are bankrupt.

Agreed, people that understanding trading with no addiction knows been a day trader doesn't mean the trader needs to trade every day unless the trader wants to run into addiction and loss, because overtrading has always been proven not to be profitable for even well-experienced traders.

[Supreme Donvic]

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 won’t agree with you that said trading is more profitable. Both trading and investment are profitable, depending on how you venture into it, the amount of knowledge which you have before you start. Maybe because you are always making profits from trading frequently, and that’s why you think trading is more profitable than investment.

Whenever you are investing, you will have to wait for years before you will be able to make profits, but what you will make might be more than what a trader have made for years, and we all know how risky trading can be compared to bitcoin investment. Both trading and investment are profitable, just depending on the one which you decide to do.

If you know what you are doing, trading will always bring in more returns than investing it. Look at it like this, in the end  if the value of your asset appreciates, you will have not just your capital appreciating but also your earnings, but same cannot be said about your investment  where earnings are either fixed or tied to whether their is an appreciation or not. However nothing says that one cannot invest as well as trade some so to enjoy both world.

Even if you are so accurate in trading or you are so experience in trading you are going to lose and gain, you cannot be gaining always in trading you will always lose and gain, this makes it risky because you don't actually know when your losses will come.
Long-term investment will always be better than trading, I know that some people love trading and that is because they are impatient to wait for a long time.
Yes, no law is stopping anyone from trading and investing for long-term. There are people who are investing in Bitcoin for long-term and they are also trading however, if you are doing the two together, it will be advisable to use 1% or 2% of the discretionary income to trade and the rest for long term Bitcoin investment.

[Dareo]

Actually the biggest problem with trading addiction is not the losses, but the attempt to recover quickly after a loss.  If one trade goes badly it's easy to take on more leverage on the next trade, and from there it can become like gambling, So it's more important to decide how much you can lose before trading than how much you can profit. Like if you trade with a small fixed budget, even a few bad trades won't put a strain on your entire financial situation. And if trading starts to affect your sleep or peace of mind, I think it's wiser to stay away from it altogether for a while.