*Day Traders* are now calling gambling Addiction helplines!! - page 3.

redsun114

hero member

Activity: 2576

Merit: 585

Leading Crypto Sports Betting & Casino Platform

Quote from: Emitdama on October 11, 2021, 05:23:30 PM

most people are lazy but greedy at the same time which is the reason they will never get time to develop their skills but going for trading how they are gambling and keep gambling for easy money.

If you're having only one emotional problem then probably you can come out of it but when you're having two problems which are related to your emotional failures then probably you will never find any appropriate solutions to recover from it. I mean being greedy and being lazy cannot be a simple emotional failures for any trader or gambler. They must need more attention and time to recover from it so that they could find opportunities to make use of trading and by leaving off gambling.

When you're not good in the emotion control then definitely you will get addicted even with trading. But unfortunately most people are thinking only gambling is addictive.

stomachgrowls

hero member

Activity: 2856

Merit: 769

Quote from: Emitdama on October 11, 2021, 05:23:30 PM

Quote from: tvplus006 on October 11, 2021, 05:07:53 PM

It depends on the psychology of the person himself. And it does not matter where such a person turns out to be, in a casino or trading on the stock exchange, his views will not differ from this. In this case, he will trade exactly as if he is playing in a casino, betting on red/long or black/short.

I agree. People are treating both gambling and trading in similar manner just because of their own psychology.
If they are caring their financial things then definitely they will find skills to distinguish between trading and gambling. But, most people are lazy but greedy at the same time which is the reason they will never get time to develop their skills but going for trading how they are gambling and keep gambling for easy money.

Depends on someones psychology and treatment towards trading because not all would really be having that investors like kind of mind but rather being a gambler basing up with behavior.

Addiction is something can be applied in all sorts of things but you should know to differentiate which one is really worth to risk and which one is really just good for entertainment.

You should know on how to handle things so that you wont really be having some problems later on when things turns out to be bad.

Emitdama

sr. member

Activity: 1895

Merit: 328

Quote from: tvplus006 on October 11, 2021, 05:07:53 PM

It depends on the psychology of the person himself. And it does not matter where such a person turns out to be, in a casino or trading on the stock exchange, his views will not differ from this. In this case, he will trade exactly as if he is playing in a casino, betting on red/long or black/short.

I agree. People are treating both gambling and trading in similar manner just because of their own psychology.
If they are caring their financial things then definitely they will find skills to distinguish between trading and gambling. But, most people are lazy but greedy at the same time which is the reason they will never get time to develop their skills but going for trading how they are gambling and keep gambling for easy money.

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: RealMalatesta on October 11, 2021, 02:53:17 PM

...I have seen people who got addicted to trading in exact similar manner to how gambling addiction ruins one's life.

It depends on the psychology of the person himself. And it does not matter where such a person turns out to be, in a casino or trading on the stock exchange, his views will not differ from this. In this case, he will trade exactly as if he is playing in a casino, betting on red/long or black/short.

RealMalatesta

legendary

Activity: 2338

Merit: 1124

Quote from: tvplus006 on October 11, 2021, 05:05:07 AM

Those traders who adhere to the rules of trading and do not exceed the risks when opening deals will not face such a problem, since for them trading is one of the types of work, and not a way of entertainment.

Sticking to the basics of trading is not easier unlike how it sounds theoretically while everyone learns from books or videos. This is the reason, most traders do break the rules of trading by taking too much or risks and then start gambling with the markets. So, there will be no shocking on seeing traders are approaching addiction helplines. I have seen people who got addicted to trading in exact similar manner to how gambling addiction ruins one's life.

Quote from: shield132 on October 11, 2021, 02:42:53 PM

If 2-3 loses are in a row and it's very, very usual, then you are becoming more nervous and the more nervous you are, the more mistakes you make. Finally, you are becoming addicted!

I am not seeing any big differences on what usually gamblers do after losses from what traders do after losses. Losses->nerves->more losses->chasing losses->keep trying->addicted.

shield132

hero member

Activity: 2198

Merit: 847

There is a slight difference between trading and gambling. In gambling, you can get excitement and fun before losing but in trading, all the weight of all the world is on your shoulders, you are constantly under pressure, you may miss a night sleep to track the price (I had that moments). Once you lose 10% of your capital, then you need more than 10% rise to reach the original capital. If 2-3 loses are in a row and it's very, very usual, then you are becoming more nervous and the more nervous you are, the more mistakes you make. Finally, you are becoming addicted!

tvplus006

legendary

Activity: 2268

Merit: 1655

To the Moon

Quote from: fiulpro on October 07, 2021, 11:36:24 AM

...The gambling Addiction helplines are spread across the world and people are super aware of them as well. Right now apparently there is a news regarding people actually calling those helplines asking help for not their *gambling Addiction* but for their day trading addiction...

Such people mostly represent traders who treat cryptocurrency trading like a casino. Those traders who adhere to the rules of trading and do not exceed the risks when opening deals will not face such a problem, since for them trading is one of the types of work, and not a way of entertainment.

Kimonoe

member

Activity: 700

Merit: 10

Quote from: XCANA on October 10, 2021, 11:54:45 PM

If traders felt the same way gamblers are feeling then the difference between day traders and gamblers is not that much since been addicted doesn't necessarily mean it only happens to gamblers. The anxiety players to make money both in day trading and Gambling is driving force behind one being addicted and that can happen to anyone in trading or playing gambling.

Gambling is more synonymous with the luck factor, while day trading, I think it is more of a trading strategy to make a profit. We have set targets and cut losses, so this is not entirely based on luck. and I think the trader himself understands him better

XCANA

full member

Activity: 1456

Merit: 148

If traders felt the same way gamblers are feeling then the difference between day traders and gamblers is not that much since been addicted doesn't necessarily mean it only happens to gamblers. The anxiety players to make money both in day trading and Gambling is driving force behind one being addicted and that can happen to anyone in trading or playing gambling.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: electronicash on October 10, 2021, 09:45:11 AM

Quote from: michellee on October 10, 2021, 09:18:01 AM

Quote from: otundebis on October 09, 2021, 09:38:55 AM

Cryptocurrency is an asset striving to provide solutions to myriad of problems from finance to counterfeiting, entertainment to gaming, and the new kid on the block, defi and metaverse. Trading Cryptocurrency is not gambling, the presentation of Cryptocurrency as a fast money making is! Many people were made to believe that they can make quick money trading and investing in Cryptocurrency when in actual fact, they were just gambling. Cryptocurrency is far away from gambling!

People need to change their perception that crypto trading is a fast way to make money because that needs many things before earning money from trading. They need to learn about trading itself and master every lesson to be able to make a profit. That is the only way they must do and to avoid that crypto trading is the same as gambling. If they do not learn anything, maybe that can be considered gambling because they only guess what coin they should buy or just follow the other people's suggestions.

if they trade altcoins, it's a sure win to lose. altcoin promises made them invest in crypto.
it's also what drives people to cryptocurrency because they see crypto trading as the fastest way to make money. the motivation to earn more drives them to go into crypto trading and then addicted to it. they wouldn't be calling for help if they are winning but if they are losing that will make it look worse. it likely affected their daily lives that's why.

If they motivate themselves to earn more, they must know that earning more needs more learning, which means trading will need skills. Trade altcoin can give them money if they do it right and are not in a rush. If they become addicted to trading and have the skills to trade, they will make money from trading and that will be better for them to trade than to gambling because, in gambling, they will feel hard to earn money than trading. They need to realize that trading can give them a chance to make money, especially if they are willing to learn more about trading.

Kittygalore

member

Activity: 868

Merit: 63

That's not surprising, given how we compare gambling and trading and deciding that it's all too similar with the risks that they're involved in, I think that there's nothing wrong with what they're doing, they're a helpline and if someone asks for help, you have to help them right?

electronicash

legendary

Activity: 3066

Merit: 1049

Eloncoin.org - Mars, here we come!

Quote from: michellee on October 10, 2021, 09:18:01 AM

Quote from: otundebis on October 09, 2021, 09:38:55 AM

Cryptocurrency is an asset striving to provide solutions to myriad of problems from finance to counterfeiting, entertainment to gaming, and the new kid on the block, defi and metaverse. Trading Cryptocurrency is not gambling, the presentation of Cryptocurrency as a fast money making is! Many people were made to believe that they can make quick money trading and investing in Cryptocurrency when in actual fact, they were just gambling. Cryptocurrency is far away from gambling!

People need to change their perception that crypto trading is a fast way to make money because that needs many things before earning money from trading. They need to learn about trading itself and master every lesson to be able to make a profit. That is the only way they must do and to avoid that crypto trading is the same as gambling. If they do not learn anything, maybe that can be considered gambling because they only guess what coin they should buy or just follow the other people's suggestions.

if they trade altcoins, it's a sure win to lose. altcoin promises made them invest in crypto.
it's also what drives people to cryptocurrency because they see crypto trading as the fastest way to make money. the motivation to earn more drives them to go into crypto trading and then addicted to it. they wouldn't be calling for help if they are winning but if they are losing that will make it look worse. it likely affected their daily lives that's why.

michellee

hero member

Activity: 2604

Merit: 816

🐺Spinarium.com🐺 - iGaming casino

Quote from: otundebis on October 09, 2021, 09:38:55 AM

Cryptocurrency is an asset striving to provide solutions to myriad of problems from finance to counterfeiting, entertainment to gaming, and the new kid on the block, defi and metaverse. Trading Cryptocurrency is not gambling, the presentation of Cryptocurrency as a fast money making is! Many people were made to believe that they can make quick money trading and investing in Cryptocurrency when in actual fact, they were just gambling. Cryptocurrency is far away from gambling!

People need to change their perception that crypto trading is a fast way to make money because that needs many things before earning money from trading. They need to learn about trading itself and master every lesson to be able to make a profit. That is the only way they must do and to avoid that crypto trading is the same as gambling. If they do not learn anything, maybe that can be considered gambling because they only guess what coin they should buy or just follow the other people's suggestions.

LUCKMCFLY

legendary

Activity: 2436

Merit: 1853

Leading Crypto Sports Betting & Casino Platform

Quote from: Cling18 on October 08, 2021, 12:45:59 PM

Both have risks so I must say that they're mostly alike. However, day trading needs skills and knowledge about technical analysis and they mostly rely on their speculations based on the movement of the market. Gambling is mostly based on luck and it doesn't require much skill but the addiction to it could only be the same. Things will still depend on how an individual would keep himself from falling into the trap of addiction.

You are right, although gambling is a very different activity from trading, many tend to confuse it, it is for this reason that many traders have many losses when they start, I think the same, gambling leaves almost everything in the hands of luck and randomness, while that in trading the degree of knowledge that the person has determines their success rate in the activity.

If we take into account by simple inspection, I think that there are many more cases of addiction to gambling than to trading, of course the figures for both can currently turn out to be large, but due to the pace of life we are living, it is known that the safest direction It is through the digital world, and when one talks about money and its ways of doing it, both gambling and trading are highly dangerous to lose money in a very simple way.

otundebis

full member

Activity: 630

Merit: 100

Cryptocurrency is an asset striving to provide solutions to myriad of problems from finance to counterfeiting, entertainment to gaming, and the new kid on the block, defi and metaverse. Trading Cryptocurrency is not gambling, the presentation of Cryptocurrency as a fast money making is! Many people were made to believe that they can make quick money trading and investing in Cryptocurrency when in actual fact, they were just gambling. Cryptocurrency is far away from gambling!

bitgolden

legendary

Activity: 2800

Merit: 1128

Leading Crypto Sports Betting & Casino Platform

Gambling addiction line could be a little extreme of course, but it is still quite the same logic for many people. When you start trading then you are doing something that you would probably not do normally, which is putting your money at risk, which is the only part that is similar to gambling.

If you also can't stop even while you are losing and keep doing it over and over again and keep losing money then it would become the second part that is similar as well, that is not inherit to trading, you could actually profit if you are good compared to casinos where you are destined to lose if you gamble long enough. However, if you fail to do it and keep losing for a very long time and end up with nothing then you could probably call the addiction line to get help. I will always support asking for help, it is the start of getting better in the long run.

Mpamaegbu

legendary

Activity: 2688

Merit: 1208

Once a man, twice a child!

Quote from: fiulpro on October 07, 2021, 11:36:24 AM

My question is : *How far is day trading from Gambling according to you?*
Is that a valid comparison?? Are we soon going to consider the day trading *gambling?*

The comparison isn't valid or fair. IMO, both activities are poles apart. Even though I acknowledge that trading is speculative in nature, there are guides as navigation tools called indicators to guard traders. I don't see that type of guide in gambling which rely solely on pure luck. From my little school boy experience of gambling, those who indulge it depend on chance to win. It's always an infinitesimal percentage that often gets lucky to win. As gamnlers struggle to win back what they've lost, the addiction to it sets in. They never eventually get to win back their losses, anyway. The only traders that would see trading as gambling are traders who think there are shortcuts to success or think trading is a Get Rich Quick scheme. To be frank, it's very stressful day trading. Traders should move on to swing and position-trading and save themselves the hassles of always watching paint dry.

electronicash

legendary

Activity: 3066

Merit: 1049

Eloncoin.org - Mars, here we come!

Quote from: Oshosondy on October 08, 2021, 02:54:10 AM

Quote from: electronicash on October 08, 2021, 02:44:16 AM

if he buys ETH at $3600 and then sells at $3300 because his speculation went wrong then he is a bad gambler as much as a trader. i guess it's fair to call a hotline since he calls it gambling anyway.

Let me be specific, I am not talking about margin, future or any type of leverage trading but just only spot trading. You know that if someone lose money to gambling, he lose it forever, but many traders are panic traders, without no leverage, some will first be losing, the price of the coin will be increasing back to the extent it will increase and the trader will later gain. Gambling can be all-or-non while trading is different in this way because someone can be losing but later gaining.

Some people are using trading to gamble, these people are beginners, some do not analyse market but just trade the way they like, this is gambling. But for professional traders, they aren't gamblers even when they are losing, there is still chance that the trade can go other direction and favour the trader, but if gambler lose a game he lost it and can not be reversed. I am not talking about binary option because binary options is just pure gambling.

they analyze the market actually. if you look at the forex traders engaging in binary trading options which somewhere along the line of gambling, they read charts and understand how to use indicators and predict the market so well. it's still called "binary trading" though but very close i suppose.

same with spot market, many will buy low and sell high in the hourly char and sell whenever they see price is overbought. they will call it an accumulation. if they panic while it's dropping and the chart can be confusing whichever the trend will go, they sell resulting in lesser coins.

Oshosondy

legendary

Activity: 1414

Merit: 1118

...gambling responsibly. Do not be addicted.

Quote from: johhnyUA on October 08, 2021, 05:00:48 PM

From that point of view we can state that Youtube is very close to gambling, because most of youtube blogs/vlogs are not popular and only small amount of people are popular youtubers

Everything in life is about gambling, but there is this specific type called gambling which I do not need to expatiate on because everyone know that already. Comparing this gambling like casino, sport, horse racing, dog racing and such on gambling sites to trading is what this topic is focus on, life itself generally is about gambling, but not this general type.

add1ct3dd

sr. member

Activity: 657

Merit: 270

Quote from: zanezane on October 08, 2021, 02:26:49 PM

It's somewhat connected though so it's not really an unlikely thing to happen, I mean people compare trading and gambling as a same thing as they both have risks involved in them and I do think that if the traders that uses that helpline, why no? If they need help, then give it to them.

This is good talk because I already have talk in different groups and channels about this, and we never have any positive end of this, every one is going to talk for his own sack, but one thing is sure mostly feel these both have similarity because both have risk and both can bounce back any time without any prior notice.

But one thing is very important that when peoples start this trading professionally they have done their own strategies for long term because they have all things in their hand, and they understand how to manage but in gambling it's never been works you can't go with strategies mostly it's happen through luck and this can break you any time without any serious trouble.

Topic: *Day Traders* are now calling gambling Addiction helplines!! - page 3. (Read 684 times)

Topic: Day Traders are now calling gambling Addiction helplines!! - page 3. (Read 684 times)