Addiction to trading, Self exclusion possible?

[Yablee0]

Addiction to something does not start in a day there must be a persistency or consistency, personally I don't really think that there is any such thing as a trading addiction but of course it is possible for people to overtrade but this doesn't put them in the same category as people that get addicted to gambling and my reason for saying that is because in order for you to understand the market and become good at trading you must do it consistently, this is why I think there's no such thing as trading addiction because some people are getting consistency and addiction mixed up.

The moment someone has devoted all his quality time to a particular thing, either it's gambling or trading it wouldn't be right addressing it or being seen as an addiction. But were comes the challenging side and when it will move into addiction is hence you fail to stop when necessary or when the need to do so arise.

However, just like the popular saying that excess of everything is bad. If we can maintain absolutely moderation in all we does at every point in time, then  I don't think we will be having any discussion to do with addiction.

[Roseline492]

the main reason I don't believe that someone can get addicted to trading is because it's a road I have thread before, the psychological or emotional damage it does to you, if you don't know how to control your emotions will compel you to quit, unlike in gambling where it doesn't affect your emotions to that extent.

Actually I believe is very possible because it has the same emotion with gambling and for the fact that you could pulled away from trading after series of unfavourable trading doesn't mean that another trader could also back away the same way, have you not heard of chasing lost?, or do you think is only in gambling people usually chases their lost?, of course a lot of obsess traders does it too and that's the first level of addiction because it wouldn't stop there. Actually there was a time i was doubting this possibility of an addiction in trading but after meeting someone who was no different from gambling addiction in trading, that was when I believe that truly trading is not exempted from addiction.

[terrific]

Like  Terrific said above, trading addiction doesn't get talked about or called out much because it's way harder to spot. Since it's seen as financial investing, people can easily justify their own behavior and making it harder for those around them to realize that it might actually be a form of addiction.

The effect of addiction with gambling is also the same with trading.
Traders chasing losses that even they have lost so much already, they're not going to quit but will push for more.
And they can reason out that they're for some trading challenges and bonuses and they're only fooling themselves for made up reasons.

[Nanga Parbat]

The moment someone has devoted all his quality time to a particular thing, either it's gambling or trading it wouldn't be right addressing it or being seen as an addiction. But were comes the challenging side and when it will move into addiction is hence you fail to stop when necessary or when the need to do so arise.

However, just like the popular saying that excess of everything is bad. If we can maintain absolutely moderation in all we does at every point in time, then  I don't think we will be having any discussion to do with addiction.

From devotion, the next level is always addiction because it can happen with anyone on any level, but trading addiction is always controllable because here things always need some extra level, but gambling addiction has nothing to do with this; it always ends badly without having any way of returning. Your few points are valid and have enough worth, but people mostly never understand consequences while they are on peak because they feel they can do as much as they are doing, but it could be gone against them any moment. Always living on balance is major success, and controlling emotions will help to have never been an addiction. Usually people start chasing losses, and it increases their addiction.

[Issa56]

So I imagine this platforms that give access to trading like brokers, will not be advisable for them to have a self exclusion option for the platform so that their users will not have to become addicted into trading because I see people complaining that they have freezes the trading applications on their mobile devices but can't still stop trading even when they are losing so they keep losing and go bankrupt.

what do you guys think about this?

I don’t really think all this self exclusion services is really necessary, because that can’t stop addiction. It’s just better you do everything possible not to get addicted to either gambling or trading, because things might not just end well. If you make use of a self exclusion after service after losing some money, and you got frustrated during that period, when you are calm, you still going back to either trading or gambling.

We have different trading sites, if you self exclude yourself from one exchange, you can create another account on different exchange, and you going to keep on trading, which you might end up losing frequently also. So instead of thinking about self exclusion, then we should fight addiction in every possible means.

[mirakal]

So I imagine this platforms that give access to trading like brokers, will not be advisable for them to have a self exclusion option for the platform so that their users will not have to become addicted into trading because I see people complaining that they have freezes the trading applications on their mobile devices but can't still stop trading even when they are losing so they keep losing and go bankrupt.

what do you guys think about this?

I don’t really think all this self exclusion services is really necessary, because that can’t stop addiction. It’s just better you do everything possible not to get addicted to either gambling or trading, because things might not just end well. If you make use of a self exclusion after service after losing some money, and you got frustrated during that period, when you are calm, you still going back to either trading or gambling.

We have different trading sites, if you self exclude yourself from one exchange, you can create another account on different exchange, and you going to keep on trading, which you might end up losing frequently also. So instead of thinking about self exclusion, then we should fight addiction in every possible means.

If you analyze it well, it can be helpful if you also help yourself out. Meaning you have to be disciplined and stick with it while you are still in the stage of self-exclusion. But if you are a stupid trader, things like self-exclusion won't be effective as you can still access other trading sites and risk your funds there. You might end up losing even a bigger amount there compared to the previous ones.

[I_Anime]

Like  Terrific said above, trading addiction doesn't get talked about or called out much because it's way harder to spot. Since it's seen as financial investing, people can easily justify their own behavior and making it harder for those around them to realize that it might actually be a form of addiction.

The effect of addiction with gambling is also the same with trading.
Traders chasing losses that even they have lost so much already, they're not going to quit but will push for more.
And they can reason out that they're for some trading challenges and bonuses and they're only fooling themselves for made up reasons.

This is something I won’t Deny personally. Yes there are some kind of addiction that comes with trading, almost as crazy like that of gambling addiction. This is more common among traders that lacks proper trading strategy that trades in the old ways of buying when is low and selling when is high without having some kind of entry and exit methods. That’s why is always advisable to have a trading strategy which will always help in fighting the urge of to trade recklessly or unprofessional. Having a strategy you will be able to tell when its fails and you can always come to do your checking to no the caused of it than trying to get money back by revenge trading or not knowing when to call it a day .

[pawanjain]

I was thinking about how much people say they are addicted to trading just like gamblers say they are addicted to gambling and a lot of people call trading gambling, true they have similarities.

So I imagine this platforms that give access to trading like brokers, will not be advisable for them to have a self exclusion option for the platform so that their users will not have to become addicted into trading because I see people complaining that they have freezes the trading applications on their mobile devices but can't still stop trading even when they are losing so they keep losing and go bankrupt.

what do you guys think about this?

Yes, people do get addicted to trading just like how they get addicted to gambling because both involves money.
Both release the same dopamine but the only difference is that people get addicted to gambling very quickly when compared to trading because the results are instant in gambling.
Not sure how many sites already has a self exclusion program for trading but yeah, it's surely a nice feature to have.

[CryptoBuds]

I was thinking about how much people say they are addicted to trading just like gamblers say they are addicted to gambling and a lot of people call trading gambling, true they have similarities.

So I imagine this platforms that give access to trading like brokers, will not be advisable for them to have a self exclusion option for the platform so that their users will not have to become addicted into trading because I see people complaining that they have freezes the trading applications on their mobile devices but can't still stop trading even when they are losing so they keep losing and go bankrupt.

what do you guys think about this?

Yes, people do get addicted to trading just like how they get addicted to gambling because both involves money.
Both release the same dopamine but the only difference is that people get addicted to gambling very quickly when compared to trading because the results are instant in gambling.
Not sure how many sites already has a self exclusion program for trading but yeah, it's surely a nice feature to have.

Like someone already said, addiction is about our ability to control our behavior and emotions. So how fast you get hooked depends on you, not the activity itself. That's why some people can gamble for years without ever getting addicted, while other get hooked on trading pretty quickly.

I agree that self exclusion is a useful feature, but its impact is pretty limited since it does not get to the root of the problem. Someone who can't control themselves can always move to another exchange or casino. At the end of the day, if they don't want to quit, blocking one platform isn't gonna stop them.

[Tamaperdana]

I was thinking about how much people say they are addicted to trading just like gamblers say they are addicted to gambling and a lot of people call trading gambling, true they have similarities.

So I imagine this platforms that give access to trading like brokers, will not be advisable for them to have a self exclusion option for the platform so that their users will not have to become addicted into trading because I see people complaining that they have freezes the trading applications on their mobile devices but can't still stop trading even when they are losing so they keep losing and go bankrupt.

what do you guys think about this?

When it comes to self-isolation and wanting to take a break from trading, I personally find it quite easy. I sometimes overdo it,, and it's almost always difficult to stop once I've started. But I'm always self-aware and know my limits, realizing that the more ego I have, the greater my potential for significant losses. That's why I always take a few minutes to catch my breath, and then I can finally calm down and take a break from trading. That's how I've managed to avoid becoming addicted to trading. The key is to start with self-awareness. Even if exchanges offer self-isolation or a "cooling off" feature, if we can't control ourselves, we'll inevitably continue trading and find ways to do so. Therefore, in trading, we must be sane and not get carried away by emotions. Having a sane mind will undoubtedly make everything smoother.

[ZAINmalik75]

Trading or exchanges can have cool off periods, no self-exclusion, because trading in general is not like gambling where you play with your luck and get addicted because of huge possible outcomes. Trading is not to be considered a place where you try your luck to see if you win or not, because it might become even more dangerous than gambling if it's treated that way. Those who become addicted to trading are those who have zero knowledge about it in general, and they probably started trading because someone told them they can make money from it, but instead of going through the correct way, they probably started trying to use shortcuts to get rich through trading, and are now suffering because of their mindset.

Those who compare trading with gambling need to understand that there are risk-management techniques and patterns in trading that you can't find in gambling. A casino will not allow you to have a stop-loss with a bet you've made so that if you are about to lose the bet, you will only lose 5% or 10% of your used amount, but this is an option in trading, however, it can only be used properly by people who understand everything properly, not those who think trading is a shortcut to wealth.

[Webutxo]

what do you guys think about this?

I didn't know that people can be addicted to trading, i haven't seen anyone with such a complain, different from the way you can see lots of gamblers addicted to gambling? Trading addiction is not rampant. If the cooling-off feature is not available, there should be a way to close the account, there is usually a button for that in every exchange.

Don't say what you are not experienced. There are people that are addicted to trading, but the outcome can come in two ways, it's either you are making profit from trading or you are making loss from trading. If you are making profits, I don't think you need a self exclusion like the way OP is looking for and if you are making loss and you are addicted to tradings, that's where I think you are going to need a self exclusion to take some break.

There are some traders that are making profits from trading that may also like self exclusion in the sense that they will want to give trading a break but because they know their inner intuition will want to force them to come back or enter a position when they are supposed to be taking a break, they will want to rather leave trading and have no means of coming back.

[Tungbulu]

If you analyze it well, it can be helpful if you also help yourself out. Meaning you have to be disciplined and stick with it while you are still in the stage of self-exclusion. But if you are a stupid trader, things like self-exclusion won't be effective as you can still access other trading sites and risk your funds there. You might end up losing even a bigger amount there compared to the previous ones.

Self exclusion is definitely the best option for anyone is genuinely committed to taking a break, because blocking one platform won’t help much if they just move from that platform to the next one to still continue doing the same thing that made them leave the previous one. The main idea of self exclusion isn’t just to cut access to one particular site or platform, but rather to create the opportunity to regain control of your decision and recover from the damage you’ve caused yourself.

[348Judah]

I still got surprised seeing people treating trading the same way they are applying for gambling addiction, I don't think anyone have to tell us what to do before we could know that we are losing on trades, very possible that you discover some are addicted to trading because the are being professional by the virtue of the kind of trade they take or they are more careless and vulnerable to losing due to the strategy they use in their own trading, but I don't think the solution is to apply self-exclusion to trading when we can just try to avoid the risk to trade and maximize our skills and potential on the trading pattern we are using.

[fighter2627]

Isn't it common in actual trade and for traders that they are always liquidated from their assets that are traded. Then in trading if someone makes a profit, it means someone loses,
that's just how it is. And if someone loses, someone makes a profit in trading.

These are just some of the things I read in other comments from members here on the forum, So those who become addicted to trading are probably only a few if any.

[TheUltraElite]

Spot trading needs time in between trades - that prevents addiction from setting in specially if kept limited to the BTC based trades.

Anything other than spot trading will need you to be on your toes and taking heavy risks, the chance of addiction increases in these.

Hence one should first limit themselves to spot trading only and the understand that only spot trading is the actual trading, others are all methods of gambling. Choice to self exclude might be available in some sites, but self-discipline is far more important.

[Smack That Ace]

Isn't it common in actual trade and for traders that they are always liquidated from their assets that are traded. Then in trading if someone makes a profit, it means someone loses,
that's just how it is. And if someone loses, someone makes a profit in trading.

These are just some of the things I read in other comments from members here on the forum, So those who become addicted to trading are probably only a few if any.

Trading is often seen as zero sum game, meaning one side's profit is other side's loss.
But market isn't just retail trader. There are also big player like hedge fund, financial institution and market maker and professional trading firm. So when a trader gets liquidated, their loss does not necessarily go straight into another retail trader's  pocket . A  institution or market maker could be on the other side...

That's also why day traders have such a high loss rate, and to put it bluntly, hardly anyone actually makes a profit. But ironically , plenty of people keep trading even while they're taking losses. Trading addiction is definitely a real thing, my friend.

[Just Say]

Addiction to something does not start in a day there must be a persistency or consistency, personally I don't really think that there is any such thing as a trading addiction but of course it is possible for people to overtrade but this doesn't put them in the same category as people that get addicted to gambling and my reason for saying that is because in order for you to understand the market and become good at trading you must do it consistently, this is why I think there's no such thing as trading addiction because some people are getting consistency and addiction mixed up.

Mainly due to overly volatile market, get-rich-quick mindset and emotional excitement like gambling, many people get addicted to cryptocurrency trading, we can also call it behavioral addiction. At the moment, the main content is the cryptocurrency market is extremely volatile and the price of any coin here can skyrocket and crash within minutes but it seems to me that when a trader makes sudden gains or profits, he may unconsciously become addicted to this trading.

See it's true that to understand the market and be good at trading you have to do it consistently but if you suddenly lose a trade and keep doing it again and again to avoid that loss then it's definitely addictive.

[Byebyebtc]

I'm not sure about brokers having self exclusion.

But I think they shouldn't 

Let every trader make the fullest of every experience and emotions, it's part of the process, Imagine I see a good trade and I'm not able to execute it, it'll hurt man 

[YOSHIE]

Addiction to trading, Self exclusion possible?

Of course you can if you want to do "self-exclusion", this method is not impossible for crypto traders to do, Even though the psychological pattern can be said to be crypto trading addiction, perhaps some people think it is similar to gambling addiction, those who are addicted to crypto trading can recover well.
For example:
You can carry out "self-exclusion" by limiting your financial access to crypto trading platforms or you can carry out gradual internal self-exclusion on each crypto exchange platform, I think in a simple way like that, maybe you already use the self-control feature independently of the crypto trading application.

In essence, even though you have done several simple methods to block crypto applications or what you have done can be said to be the first step to refrain from trading crypto, but what is called the root of compulsive addiction, You also need to consider and treat it either psychologically or with a specialist doctor, that's an important point.