Addiction to trading, Self exclusion possible?

[Z_MBFM]

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.

Self exclusion basically depends entirely on yourself. Even if you get the opportunity to self exclude on a platform, if you want to trade, you can use another exchange platform. Normally exchangers do not provide the facility of self exclusion. If you want to take a break from trading and you plan to take a big break, then I would say avoid monitoring the market frequently and uninstall the exchanger apps from your smart phone. If you try on your own, then you will definitely be able to stay away. I lost a huge amount in futures trading and was so addicted that I never thought that I would be able to get out of it. But I was able to get out of it with my own efforts, later I got addicted to gambling, but now I can stay away from that too. Everything depends on self control

[taufik123]

There are already trading sites that have this  but the term they used is Cooling-off.

Some exchanges that has it are

Bybit
Binance

A feature like this is needed and can be used for users who can't stop trading even though they always lose.
The Cooling Off feature on Bybit and Binance shows that Tier 1 exchanges also care about addiction that can happen to anyone and will certainly cause a lot of harm,
so that once the Cooling Off feature becomes a pause so that those who trade for too long with more losses will think about quitting and think more clearly so as not to trade revenge continuously.

Because I was in this position, spending a lot of money on trades until I ended up losing trading again until I also deposited my savings.
No one warned and no one admonished me to stop and rest.

[boyptc]

If a trader spends most of the day glued to the screen, obsessed with trading, and doesn't wanna do anything else, what do you call that if not an addiction? Hard work? Hahaha.

To those of you who think trading addiction is a myth: look up the psychological definition of addiction. That would be my piece of real advice. Don't try to pass an uncontrollable obsession off as disciplined persistence.

Addiction in trading is a serious thing and we may not see it in mainstream but, if the exchanges has that option about self exclusion.

Then, it's because they have already foreseen and had complains from the former traders that they're also experiencing addiction.

We shouldn't invalidate someone's real scenario that they are facing. If it's real in gambling, and so in any way that money is involved it's possible that someone is struggling on it and can't control themselves any longer.

[PostQuantumBTC]

That is why I say that to avoid addiction to trading and gambling, it is necessary to follow a strategy, everyone gambles but no one can be deprived of gambling, this is the addiction to gambling, just like in trading. Not every addicted person admits to their addiction, so if you want to eliminate this symptom of your addiction with strategy, then it is certainly possible. Therefore, it will be possible to eliminate the addiction to trading by using your own experience and strategies,
but there needs to be a break after every win and loss. Controlling money is also important, if these things can be controlled properly, then it is certainly possible to keep yourself away from the symptoms of addiction.

Addiction is not something that is easy to control like how you are saying it, addiction is not easy at to control at all. If it has not become addiction, you can easily control it, but when it comes to addiction it is hard to control.

The first will be that the person should try to control it, but it can lead to a situation that the person need medical help. There are also rehab centres that can help.

Some people want to quit trading but they could not.

[ZAINmalik75]

Addiction in trading is a serious thing and we may not see it in mainstream but, if the exchanges has that option about self exclusion.

Then, it's because they have already foreseen and had complains from the former traders that they're also experiencing addiction.

We shouldn't invalidate someone's real scenario that they are facing. If it's real in gambling, and so in any way that money is involved it's possible that someone is struggling on it and can't control themselves any longer.

Actually trading and gambling are completely different things, even though I don't disagree that a person might also get addicted to trading, but the reason why I say they are different is because in gambling, you basically don't need to spend any time on gaining knowledge, spending time on learning strategies and doing analysis, you don't need to read candlesticks or patterns and then make your predictions based on your knowledge, but what you do in gambling is decide the amount you want to bet and click a button, and boom, you have the result in front of you within a second or less.

For this reason, when people manage to win some money in gambling, they try to achieve that again and again, and when they don't succeed, because it's obviously not possible, then they don't just give up, but their brain keeps telling them that any of the next bets can settle everything down and you will win again, so they keep going. In trading, things don't work like that, you have to spend so much time on it, unless it is someone who treats trading just like gambling.

[boyptc]

Addiction in trading is a serious thing and we may not see it in mainstream but, if the exchanges has that option about self exclusion.

Then, it's because they have already foreseen and had complains from the former traders that they're also experiencing addiction.

We shouldn't invalidate someone's real scenario that they are facing. If it's real in gambling, and so in any way that money is involved it's possible that someone is struggling on it and can't control themselves any longer.

Actually trading and gambling are completely different things, even though I don't disagree that a person might also get addicted to trading, but the reason why I say they are different is because in gambling, you basically don't need to spend any time on gaining knowledge, spending time on learning strategies and doing analysis, you don't need to read candlesticks or patterns and then make your predictions based on your knowledge, but what you do in gambling is decide the amount you want to bet and click a button, and boom, you have the result in front of you within a second or less.

For this reason, when people manage to win some money in gambling, they try to achieve that again and again, and when they don't succeed, because it's obviously not possible, then they don't just give up, but their brain keeps telling them that any of the next bets can settle everything down and you will win again, so they keep going. In trading, things don't work like that, you have to spend so much time on it, unless it is someone who treats trading just like gambling.

Almost the same thing, the effects, the mechanics and how we look at it they're almost identical but they're completely two different things and worlds.

It has the same impact that affects our dopamine. We get excited, we get rushed because both possesses reward if we win.

But the frustration out of it is also real when we don't get the results that we want. And so, we overlooked at its effect when we want to win and recovery our money when we're losing in most times.

To be fair, both requires strategy but at the same time you can also play them without it.

[Smack That Ace]

That is why I say that to avoid addiction to trading and gambling, it is necessary to follow a strategy, everyone gambles but no one can be deprived of gambling, this is the addiction to gambling, just like in trading. Not every addicted person admits to their addiction, so if you want to eliminate this symptom of your addiction with strategy, then it is certainly possible. Therefore, it will be possible to eliminate the addiction to trading by using your own experience and strategies,
but there needs to be a break after every win and loss. Controlling money is also important, if these things can be controlled properly, then it is certainly possible to keep yourself away from the symptoms of addiction.

Addiction is not something that is easy to control like how you are saying it, addiction is not easy at to control at all. If it has not become addiction, you can easily control it, but when it comes to addiction it is hard to control.

The first will be that the person should try to control it, but it can lead to a situation that the person need medical help. There are also rehab centres that can help.

Some people want to quit trading but they could not.

Agreed. Trading addiction isn't simply matter of having poor strategy or bad money management. So you can't expect to deal with it through discipline or personal experience alone.

Addiction is a psychological issue and it messes with your ability to control your own behavior.  That's why plenty of folks do not even realize they are addicted, or know full well what the consequences are but still can't stop trading once they're hooked.

I don't know if anyone has ever managed to overcome an addiction on their own, but I reckon addiction can take away a person's ability to control their own behaviour. That's why willpower alone often is not enough. They may need outside support, whether from family or a healthcare professional.

[Peanutswar]

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?

Apparently, I dont experience it yet an exchange offering a self-exclusion feature or just I did not even explore the feature fo the platform ive been using before, but I guess its the trader platform I guess because at the first place if they wanted to stop trading is they must need to focus on themselves an make a critical understanding that their trading journey is not profitable anymore to them. One of the best if you want to exclude yourself to a thing you wanted to stop is having a less exposure. If ever they could seek assistance with the professional.