Do People Get Addicted To Trading Just Like Gambling?

[Webetcoins]

Trading can be addictive, but that is not because it has lot in common with gambling. As a few member have already pointed out, just about anything can become addictive. It's not limited to gambling, and trading, or other money related activities.

Someone who's addicted to trading isn't necessarily lacking understanding either. Even an expert can get hooked once they slowly lose control over their trading, feel the urge to open positions and chase that rush every time the market gets volatile...

It's a self control problem, not just a matter of knowledge or experience.

If someone is getting hooked if they lose control, they can no longer be that expert. Experts will be in control always and will avoid over trading at all costs. If someone getting addicted to trading, they will keep speculating the charts most of their time and will try and find as many opportunities as possible. They will be a victim of over-trading which can only blow any account in no time. Interest and addiction are two different things. If we find trading interesting, we will keep evolving but if we find it addictive, we will continue making mistakes.

Self control is something that we all have to learn. No one is perfect but practise gets one closer to perfection. Once we are able to control our mind/emotions, we will also be able to control the profit inflow.

[ndutndut]

Gambling addiction is not longer a news and a careful and free minded look on trading will reveal the excellent percentage similarities between trading and gambling. So if gambling is addictive, trading is addictive also as another form of gambling. Trading can so take over someone's mindset that they'll do no matter what. Just like in gambling, many has sold their hard earned resources for the sake of trading and that's out of addiction "trading being in control of your reasoning". Trading can be highly addictive.

Yes, there are some similarities between gambling addiction and trading addiction. Both of them are about profits-losses, people trying to recover losses, and people become addicted because they do it in an excessive way. But this may happen because those people are lack of understanding about trading. So, they assume trading can treat as gambling. Meanwhile people who understand trading, they won't do it same as gambling. So, they won't be addicted as in gambling.

People can get addicted to trading in a way that's similar to gambling because both involve the same brain mechanisms, especially when someone feels the urge to keep repeating trades even after losing. Many traders end up chasing losses, especially when they trade excessively or ignore risk management rules a pattern very similar to gamblers. There are lots of studies that say when someone has a bad mindset about trading especially those who do day trading or high leverage, it can trigger control problems.

However, the difference still exists and lies in the approach to gambling. Traders who are disciplined, have a clear plan and a good understanding of fundamentals or technicals tend not to fall into easily addictive patterns and they treat trading as a measured business, not entertainment or gambling. But problems mainly arise when we lack knowledge and treat the market like gambling. So, even though the risks are real and can be just as dangerous, addiction is easier to prevent with education, capital limits and strong emotional control. So, let's change our mindset.

[Obari]

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.

This is no longer a new topic because common sense already answers this kind of question and with what you've already said, we don't need any further validation to ascertain that yes trading can also be addictive and just like gambling, trying to chase after our losses is one thing that will easily make us blow up our balances and from my personal observations, I've come to realize that, people chase their losses even without them knowing intentionally that they're chasing their losses, so to avoid situations like this, alway having a strict budget for trading will do us more good as it will help keep on on track so they can know when to stop and when to keep trading.

[DanWalker]

Nonetheless, I like the feel of being addicted to trading than gambling.

Trust me, you won't like it. Try not to get hooked in first the place.
Trading addiction is no better than gambling addiction. Addiction is addiction, consequences are much the same, no matter how good your original reasons for getting into trading were.

You will endup glued to chart, obsessing over every price move. Eventually, you won't be trading because you have spotted a good opportunity, but simply because you cannot sit still without an open position. Your life will become a mess, and your health will suffer...

Don't let the trading label fool you into thinking it's classier cousin of gambling. Once you lose control, you will pay the price either way.

[Mpamaegbu]

Trust me, you won't like it. Try not to get hooked in first the place.

It's too late 🤔. You're preaching to a convert. I trade as part of how I earn a living. I like the feel of it that I make money from a type of addiction that doesn't come with a stigma. Trading is lucrative once you're able to understand the rudiments and acquire the set skills for it. Like they say, it's one of the hardest ways of making the easiest money. With my years of experience in this industry, I've come to find out that those who don't like trading were once traders but they lacked discipline for the craft. The market doesn't tolerate indiscipline and overconfident traders who don't have respect for Risk/Money Management.

[Mate2237]

It's possible for a trader to have the mentality of a gambler and as such this can make them addicted in a way, although I used to find it weird to agree with the fact that traders can actually get addicted to gambling until I started understanding the fact that a lot of traders also get addicted as well due to how they trade or the mentality behind it. In trading there isn't supposed to be anything as chasing losses, this is something that gamblers are supposed to do but unfortunately a lot of traders do this.


One common reason why a lot of traders take risks irresponsibly is because they lack discipline and self control, otherwise there's no point of trading if you know that you are not disciplined enough to do that because it takes a lot of patience and self control not to avoid not trading with greed like a gambler.

[stepwilli]

Gambling addiction is not longer a news and a careful and free minded look on trading will reveal the excellent percentage similarities between trading and gambling. So if gambling is addictive, trading is addictive also as another form of gambling. Trading can so take over someone's mindset that they'll do no matter what. Just like in gambling, many has sold their hard earned resources for the sake of trading and that's out of addiction "trading being in control of your reasoning". Trading can be highly addictive.

Yes, there are some similarities between gambling addiction and trading addiction. Both of them are about profits-losses, people trying to recover losses, and people become addicted because they do it in an excessive way. But this may happen because those people are lack of understanding about trading. So, they assume trading can treat as gambling. Meanwhile people who understand trading, they won't do it same as gambling. So, they won't be addicted as in gambling.

Profit and loss sequences are the same in trading and gambling. Both places, money is involved which also involves our emotions. You can make good profits in both places so that is one big thing which can make you an addict. If you can see big money, a basic human tendency asks you to keep chasing those profits because you want to be rich someday. Your mind stops thinking about the efforts involved and it is at that point when you start becoming an addict.

Both are similar addictive and we need to be able to control our mind in order to not be an addict elsewhere. If you can be a gambling addict, you will certainly be an addictive trader as well.

[leonair]

Gambling addiction is not longer a news and a careful and free minded look on trading will reveal the excellent percentage similarities between trading and gambling. So if gambling is addictive, trading is addictive also as another form of gambling. Trading can so take over someone's mindset that they'll do no matter what. Just like in gambling, many has sold their hard earned resources for the sake of trading and that's out of addiction "trading being in control of your reasoning". Trading can be highly addictive.

Yes, there are some similarities between gambling addiction and trading addiction. Both of them are about profits-losses, people trying to recover losses, and people become addicted because they do it in an excessive way. But this may happen because those people are lack of understanding about trading. So, they assume trading can treat as gambling. Meanwhile people who understand trading, they won't do it same as gambling. So, they won't be addicted as in gambling.

Profit and loss sequences are the same in trading and gambling. Both places, money is involved which also involves our emotions. You can make good profits in both places so that is one big thing which can make you an addict. If you can see big money, a basic human tendency asks you to keep chasing those profits because you want to be rich someday. Your mind stops thinking about the efforts involved and it is at that point when you start becoming an addict.

Both are similar addictive and we need to be able to control our mind in order to not be an addict elsewhere. If you can be a gambling addict, you will certainly be an addictive trader as well.

You are right, where money is involved, people's emotions cannot be easily controlled. There is an opportunity to get rich by giving a big jackpot from gambling, and in trading, there is an opportunity to get rich quickly by using high leverage, but from these two places, people lose a lot of money in the hope of getting rich quickly. Since there is an opportunity to get a lot of money in both places, the issue of addiction definitely works here. People are very emotional towards money because money is the number one tool to manage life, nothing can be done in the world without money. And that is why people quickly become emotional and addicted to those places where there is an opportunity to get big money. And in that case, both gambling and trading are addictive.

[Proty]

Trust me, you won't like it. Try not to get hooked in first the place.

It's too late 🤔. You're preaching to a convert. I trade as part of how I earn a living. I like the feel of it that I make money from a type of addiction that doesn't come with a stigma. Trading is lucrative once you're able to understand the rudiments and acquire the set skills for it. Like they say, it's one of the hardest ways of making the easiest money. With my years of experience in this industry, I've come to find out that those who don't like trading were once traders but they lacked discipline for the craft. The market doesn't tolerate indiscipline and overconfident traders who don't have respect for Risk/Money Management.

One can make profit from trading and there is no doubt about that but, this doesn't mean that those that don't like trading are those that weren't successful because they lack discipline. Some people don't like trading or simply put they lack patience. Being an experienced trader doesn't mean you can't lose in trading because there is no one that can predict the market correctly. It is good for a trader to be patient and know how to manage risk but knowing this doesn't mean that profit is guaranteed. I think it is important for a trader to know how to manage risk instead of only focusing on making profit this way they won't find themselves in a hopeless situation where they will be chasing after losses.

[Outhue]

The biggest reason why people becomes addicted in trading starts with the money, many people go into trading with money they aren't ready to lose, also many people don't really know trading, they are doing the guess work and I understand that it's a way to learn too but using the right tools will get you there faster, there is no way I could have made what I made from trading without the tools that I bought and added on tradingview, if your tool is acurate and you have money that you can afford to lose you will very well for yourself in a very short time..

[Silikiem]

The biggest reason why people becomes addicted in trading starts with the money, many people go into trading with money they aren't ready to lose, also many people don't really know trading, they are doing the guess work and I understand that it's a way to learn too but using the right tools will get you there faster, there is no way I could have made what I made from trading without the tools that I bought and added on tradingview, if your tool is acurate and you have money that you can afford to lose you will very well for yourself in a very short time..

I doubt if there’s any single trading tool that will guarantee a 100% accuracy because the market is unclear with no certainty due to high volatility. As a trader it is only advisable to know your level of risk tolerance just as you’ve rightly stated that many people use money they aren’t ready to lose while trading and this is the reason why most traders don’t have patience and they end up losing because the money they’re using is the one they might be needing in a short period for basic expenses.

[Akaenyi]

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.

This is no longer a new topic because common sense already answers this kind of question and with what you've already said, we don't need any further validation to ascertain that yes trading can also be addictive and just like gambling, trying to chase after our losses is one thing that will easily make us blow up our balances and from my personal observations, I've come to realize that, people chase their losses even without them knowing intentionally that they're chasing their losses, so to avoid situations like this, alway having a strict budget for trading will do us more good as it will help keep on on track so they can know when to stop and when to keep trading.

Traders can get addicted to trading if they are trading like gamblers, gambling is addictive and if you don't have self control you will be chasing loses and being greedy to continue when your sanity is telling you to stop, the same thing happens to traders who lack self control. Gambling and trading have similarities if the person doesn't have self control, when you're desperate to make profit by all means that is when addiction starts to manifest in your trading, to avoid this type of frustration it is good to have a budget for your trading, same thing for gamblers that wants to gamble responsibly. When you know your financial limit it can help you to control your trading, you will know when to stop whether you're making profit or not.

[Olatundespo]

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.

It is true that people can get addicted while trading but I would not compare this addiction to gambling. You can stay connected to the trading platform by being patient and planning. But if you are also unstable when the market is volatile, trading will not be profitable for you and you may become so unstable that you sell at a loss.

Trading can be addictive like gambling but if you can trade using a fixed amount of funds, you will not have to panic during the price drop and you do not need to sell at a loss. Be patient and sell when the market pumps and you will be able to profit.

[Royal Cap]

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. If you do not maintain a budget while trading, it will be an addiction like gambling. The thing is what we call loss chasing in gambling. That is, suppose you have deposited $100 in a casino and lost $50 and you want to use that $50 to cover the remaining $100 in gambling. This is basically called loss chasing.

And in trading, the same thing is known as revenge trading. If someone enters the market with $100 to trade and loses $50, then the ghost of recovering a loss is in his head and he wants to trade with that $50 and make a profit of $100. And at the end of the day, if he cannot make a profit, he faces a loss of the entire $100.

So if someone can control this thing, he can save him from addiction. So my main concern is to maintain a budget. It could be weekly or daily.

[Junii]

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.

Yeah it is possible but for beginners i mean especially beginners got addicted to trading or some one who has not a proper knowledge and strategy he treat trading like gambling but in a suit because when person opens a trade and the brain got addicted to the chemical that is produced by brain during a trade it is the one our brain craves for it later he thinks about chasing loss and he figure out a market stuff but overall if someone doesn't have a proper strategy and doesn't know about his decision made by emotions he will treat it like gambling. A proper trader knows about the risk management and the strategy and his emotions. If u interested in trading there is a book trading in the zone must read it you will get more answers there it will give you a better understanding of trading psychology and it will clear the image of trading and gambling in your mind.

[Ayers]

The biggest reason why people becomes addicted in trading starts with the money, many people go into trading with money they aren't ready to lose, also many people don't really know trading, they are doing the guess work and I understand that it's a way to learn too but using the right tools will get you there faster, there is no way I could have made what I made from trading without the tools that I bought and added on tradingview, if your tool is acurate and you have money that you can afford to lose you will very well for yourself in a very short time..

i don't buy that trading addiction is only about using money you can't afford to lose or not knowing enough. even with spare cash and plenty of knowledge, someone can still get hooked once they lose control of their own behavior. like others already pointed out, addiction is a behavior control issue, and it has next to nothing to do with knowledge, capital or results.

as for tool, sure, they help us analyze market. But no tool guarantees you will call market right or turns trading into easy money.

owning good tools and trading profitably are 2 different things. if a bunch of good tools was all it took, plenty of people would be rich already.

[Bigjoe33]

The biggest reason why people becomes addicted in trading starts with the money, many people go into trading with money they aren't ready to lose, also many people don't really know trading, they are doing the guess work and I understand that it's a way to learn too but using the right tools will get you there faster, there is no way I could have made what I made from trading without the tools that I bought and added on tradingview, if your tool is acurate and you have money that you can afford to lose you will very well for yourself in a very short time..

i don't buy that trading addiction is only about using money you can't afford to lose or not knowing enough. even with spare cash and plenty of knowledge, someone can still get hooked once they lose control of their own behavior. like others already pointed out, addiction is a behavior control issue, and it has next to nothing to do with knowledge, capital or results.

Once you fail to control your emotions, know when to stop or take a break, once the habit begins to control you, then addiction is setting in, and this had nothing to do with how much knowledge you have gathered or wether you trade with little amounts of large one. Addiction is addiction, and people get addicted to trading just like gamble.

There are people who unintentionally spend all there pay in trading and end up loosing up. That's addiction, and because they believe they would have sold and made some gains, they get into the market and get negative and loose. Once you fail to control the urge, and allow yourself been controlled by the urge, then you are addicted

[CucakRowo]

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.

Yeah it is possible but for beginners i mean especially beginners got addicted to trading or some one who has not a proper knowledge and strategy he treat trading like gambling but in a suit because when person opens a trade and the brain got addicted to the chemical that is produced by brain during a trade it is the one our brain craves for it later he thinks about chasing loss and he figure out a market stuff but overall if someone doesn't have a proper strategy and doesn't know about his decision made by emotions he will treat it like gambling. A proper trader knows about the risk management and the strategy and his emotions. If u interested in trading there is a book trading in the zone must read it you will get more answers there it will give you a better understanding of trading psychology and it will clear the image of trading and gambling in your mind.

You do realize even seasoned traders can get hooked, right?
Knowledge doesn't make anyone immune to addiction. Solid risk management and a good strategy don't mean you're always in control of your emotions and behavior.
Addiction doesn't care if you're a newbie or a vet. Anyone can get hooked once their emotions and behavior spiral out of control.

And people don't necessarily get addicted to trading because they see it as gambling. It's also about losing control, getting hooked on the thrill of winning and the urge to chase their losses.
That's what addiction really is , whether they see trading as gambling in a suit or not.

[Mpamaegbu]

...this doesn't mean that those that don't like trading are those that weren't successful because they lack discipline.

We don't have to sugarcoat it. Anyone who isn't disciplined can't succeed in trading. Trading abhors two things and doesn't hesitate in punishing offenders. Those are lack of discipline and impatience. Discipline makes a trader stick to their game plane while patience empowers them to wait for their confluences to align. Nobody will dislike trading if they haven't suffered losses from it or haven't been told pathetic stories about it. Hate doesn't exist in a vacuum.

Being an experienced trader doesn't mean you can't lose in trading because there is no one that can predict the market correctly.

Losing is an important aspect of trading. Any trader who doesn't expect it isn't ready for trading. However, what matters at the end of every trading day/week/month is for the gains of the wins to overshadow the minus in the losses. For instance, a trader can have 6 losses and 2 wins, yet be profitable. That's why R:R is very important to calculate very well.

[Rabata]

People change their previous decisions due to their inability to accept losses, which results in huge losses. However, it is never possible to make a profit on every trade. Moreover, there is no example of a trader who does not lose money in trading, no matter how experienced he is.

Understanding when to stop is an important quality of a good trader. A person who follows his own limits can also avoid unnecessary losses. Also, it is necessary to get out of the mindset of immediately entering the trade again after every loss. Sometimes it is a good decision to take a break for some time and review your mistakes. Because protecting your wealth is more important than recovering temporary losses.