Do People Get Addicted To Trading Just Like Gambling?

[Asiska02]

Do you agree with me that people can get addicted to trading just like gambling or You don't agree?
Share Your own opinions and thoughts.

There is something similar to addiction in trading and not like the one we in gambling. Trading is a game of knowledge unlike gambling which is a game of luck. Even if you have money to trade, without the right knowledge, you’ll continue to lose your money and get liquidated. This is not the same in gambling where you just need the money, fund and play and hope that you’ll get lucky when you try.

Addiction comes easily in gambling because you’re always optimistic that your next trial will be your luck and boom you see yourself still not getting it and already addicted to the optimism you’ve been hoping for. Trading doesn’t work like that, without the knowledge, you’ll already feel yourself losing even without trading but with the knowledge, you can’t go 3-5 trades without getting one right which will help recover for the lost ones while applying proper risk management.

[puloweh555]

So I think trading can be addictive just like gambling.

Do you agree with me that people can get addicted to trading just like gambling or You don't agree?
Share Your own opinions and thoughts.

Yes. Trading is very easy to get addicted to and it’s similar to gambling. The mechanism is almost the same the emotional highs when you win and the lows when you lose turn into a strong urge for revenge and that feeling of addiction appears when watching the charts keep moving. 

So, it can be said that anything in excess is indeed harmful including trading. Even non-professional traders often feel like every second is a golden opportunity, which makes them lose control, and eventually, they have to be prepared for losses. The best solution to avoid addiction is to enter the market only when you really understand the timing and you can set clear risk limits. Trading isn’t entertainment and you have to treat it as a measurable business which helps you stay in control and prevents it from turning into an addiction.

[Comeacross]

Do you agree with me that people can get addicted to trading just like gambling or You don't agree?
Share Your own opinions and thoughts.

Of course, everyone will agree because there is no something that people can not get addicted to. People get addicted to many things including people, gambling, smoking, drinking, internet, social media and even this forum can be something someone can get addicted to. It's not strange to see people getting addicted to trading. The problem is not about getting addicted to something but the level of damage it poses on the victim. Trading and gambling have the same consequences because they both deal with losing money and your life might become miserable financially. So if we are talking about the danger of addiction, then they are the same.

[Donk1]

Well not all traders actually place impulsive trades just to get back their losses. Most traders never have that experience because they were willing to follow the market and learn from it, not go against it. Best to say this mindset of getting back what you have lost mostly happens to newbies. That said most traders who trade aggressively don't always notice they are until a certain period of time. Most of them even go on calling it consistency which is wrong. Consistency is different from taking trades irrationally. That's all......

[Charles-Tim]

Well not all traders actually place impulsive trades just to get back their losses.

I do not think any trader will escape this irresponsible trading habit, but some of the traders will learn from their mistakes and not make such a selfish mistake again after losses that affected their accounts after revenge trading.

Best to say this mindset of getting back what you have lost mostly happens to newbies. That said most traders who trade aggressively don't always notice they are until a certain period of time. Most of them even go on calling it consistency which is wrong. Consistency is different from taking trades irrationally. That's all......

It still happen to some traders that are no more newbies. There are traders that have been trading for years and still losing. This could be one of the reasons they continue to lose, but the main reason for this kind of loss is high leverage.

[macson]

Anything in excess is bad. Whether it's trading or gambling, if you can't control yourself, there's a chance you could become addicted. That's why self-control exists. When you have self-control, you'll know your limits and understand when it's time to stop when needed. Whether you're at a loss or in profit, you'll just stop and won't continue messing up what you've already set up.

That's why, in addition to understanding technical and fundamental analysis, traders also need to learn risk management and emotional control. Without these, traders are likely to quickly face a margin call.

[jossiel]

There have been other similar threads that have been made before for discussing this topic, and I think they're more than enough for us to refer to with those threads.

If it can be merged with all of these much better;

Is gambling also referred as investment?

Trading and Gambling which do you earn faster?

They are gambling but they think they are trading

While they don't directly mention about addiction, thoughts could be the same as it relates trading to gambling too.

[serjent05]

Do you agree with me that people can get addicted to trading just like gambling or You don't agree?
Share Your own opinions and thoughts.

People can get addicted to anything: games, liquor, gambling, cigarettes, chatting, certain kinds of food, watching anime movies, and so on.  Just like any of these examples, people can get addicted to trading, it just needs triggers.

If the person is too focused on trading and finds amusement and a feeling of euphoria when bagging profit, it is not far for that person to get hooked and later on addicted to trading.  Remember, rewarding conditions, just like in gambling, can trigger addiction, and in trading, a person can experience it.  That is why moderation in everything is always advised.

[I_Anime]

Because when a trader loses it trades when trading it creates a mindset of frustration in the traders mind that makes the trader to start chasing its losses by risking more funds to place more impulsive trades just to recover back it loss funds. This situation makes the trader to be so addicted to trade due to how desperate he is to trade back his lost money at all costs. And also since the trading market operates 24/7 with non stop and it never closes it makes traders to trade on a regular basises any time they want which results to placing frequent unplanned trade out of excitement because the trading market is always open and active anytime, any day they want to have access to it to trade which at the end will make them become so addictive to trading.
So I think trading can be addictive just like gambling.

Do you agree with me that people can get addicted to trading just like gambling or You don't agree?
Share Your own opinions and thoughts.

Of course one can get addicted to trading just like that of gambling. Speaking from both what have seen and experience too . There were time I couldn’t stop trading , especially during a massive losing streak ( revenge trading will make your losses massive).

So don’t think that because you are not a gambler you can get addicted to trading , you can even literally do worst. That is why is good to avoid the market whenever you are experiencing losses because further trading might lead to you getting addicted to it .

[Sanitough]

Well not all traders actually place impulsive trades just to get back their losses. Most traders never have that experience because they were willing to follow the market and learn from it, not go against it. Best to say this mindset of getting back what you have lost mostly happens to newbies. That said most traders who trade aggressively don't always notice they are until a certain period of time. Most of them even go on calling it consistency which is wrong. Consistency is different from taking trades irrationally. That's all......

Seriously speaking, the fact that these people enter trading, they all aim to make the most of profits. But not all traders are fortunate enough and make significant income in trading, majority are still losing that's why we can't blame them if they end up taking revenge and make impulsive trades. In the end, they all learned their lesson the hard way.

This is not about newbies or pros in trading. Traders are actually born to be greedy, some are just good in managing and controlling them, while others turn very emotional when trading.

[Youngrebel]

[Traders are actually born to be greedy, some are just good in managing and controlling them, while others turn very emotional when trading.

I think greed is something common in trading, am not say every trader is naturally greedy, but sometimes the desire to recover losses or make quick profits is what pushes people into making some kind of emotional decisions. Revenge trading is the most dangerous one because once you just start trading to recover your lost money, just forget it you are gone and there’s no want u won’t be addicted maybe of with the help of God because you are likely to abandon the main  aim or original strategy and take risks no matter what height of levle just to regain your lost fund.

[Maslate]

Do you agree with me that people can get addicted to trading just like gambling or You don't agree?

The fact that we are seeing traders going into revenge trading than trading what they can afford to lose, this only proves that even traders get addicted to trading, the same way gamblers turn into impulsive gambling because they fall into gambling addiction.

I think this has a lot to do with the trader's mindset prior to trading, some could have trade correctly, while others just trade following their greed and satisfying their emotions.

[Ojima-ojo]

Do you agree with me that people can get addicted to trading just like gambling or You don't agree?

The fact that we are seeing traders going into revenge trading than trading what they can afford to lose, this only proves that even traders get addicted to trading, the same way gamblers turn into impulsive gambling because they fall into gambling addiction.

I think this has a lot to do with the trader's mindset prior to trading, some could have trade correctly, while others just trade following their greed and satisfying their emotions.

There is is no separation between trading addictions and gambling addiction, when if there tendency point to the same direction, when a trader befinito trade with emotions and try to chase a particular direction without any control such a trader is bound to make mistakes and act in an addictive manner.

That is what make the basics and difference between addictive approaches and none addictive approach to trading or even gambling, portfolio management can apply to both without any exceptions and at such whatever outcome you have depends on that and should be carefully selected to avoid getting into addictions or it impact but always learn from your previous mistakes to avoid repeating it.