*Day Traders* are now calling gambling Addiction helplines!! - page 4.

johhnyUA

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Quote from: Oshosondy on October 07, 2021, 11:39:54 PM

Day trading and gambling are not the same, but in fact they are that different, but people are making it the same. In trading, you have to analyze the market before trading, it is not a game of luck for experts but how to just make money, but gambling is completely about luck, taking the team that best qualify to win does not mean a bet can not be lost whyole gambling like dog and horse racing, dice and roulettes are completely based on luck.

Opposite to my point of view Cheesy

"Market analyze" is always the same as "i'll bet on 3 red" because as you don't have full market data you can't do right conclusions. So trading without full amount of data (which you never obtain, it's impossible) is very close to gambling.
.............

Quote from: Oshosondy on October 07, 2021, 11:39:54 PM

Trading and gambling are though different but they are still also similar, more people that gamble or trade make losses than win.

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

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Quote from: FatFork on October 08, 2021, 02:38:37 PM

Hahaha, that's a good point. I just read that part in the original article and decided I didn't need to read any further.
Journalists often twist the words of experts to support their crazy theories in order to prove a point.

With a summation such as that, there really isn't any need to read any further. Cherry picking one or two words (or a phrase) and presenting it as fact is what gives journalists their well deserved bad names.

Check out the movie Absence of Malice.

Ararbermas

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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?*

well we can really say that day trading is like a gambling because in just one mistake you can there will be a massive losses especially if you can handle your emotions while trading. but for me in my opinion it depends to be honest, wherein the situation of the market is it's totally in bullish mode or bearish, because if market is on bullish there's no need to worry if you made mistakes because you can hold in order to recover your lost in just short period of time because surely it will goes up again, unlike in bearish that you don't know when it will gonna came back to your buy order just ti recover your losses because when it comes to that situation there's a lot of false breakout, so if you cannot hold you cannot hold your emotion for long time of course there's a massive losses. So it depends for me in my personal opinion

FatFork

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Quote from: Timelord2067 on October 08, 2021, 10:25:05 AM

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

Apparently the apps are designed in such a way that they rewire a person's brain and makes it harder for them to leave that habit.

If ever a news article could be branded as fake news it would have to be the above far fetched headline. People with an addiction, be it booze, drugs, gambling... even banking the house and car on the stock market are prepared to blame just about anyone, or anything for their addiction ... except themselves and their greed/lack of control.

Hahaha, that's a good point. I just read that part in the original article and decided I didn't need to read any further.
Journalists often twist the words of experts to support their crazy theories in order to prove a point.

zanezane

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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.

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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.

I don't believe in technical analysis, even in the stock market. Correspondingly, technical analysis generally in cryptocurrency looks even more dubious to me. And certainly such an analysis looks doubtful for insignificant periods of time (such as intraday trading). Do you really think that these completely random price fluctuations, caused sometimes simply by the actions of individual traders, can be predicted? This is gambling in its purest form.

Cling18

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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.

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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?*

I think it was compared by thinking the risk of gambling and day trading. The chance of making profit by day trading is really low I think and sometime trader become addicted in it when they lose for some days in a row. On the other hand in Gambling risk is also high and chance of making profit also low. For why maybe they compare on both of them.

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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?*

Not really that far and I take trading is just like the same about gambling. For the fact that gambling doesn't rely on luck but also on knowledge and skills, the same thing we need for trading, and sometimes we just wish for some luck for a better trade. Maybe if we are in the lottery, that consists of luck only but we are not talking about that, we're talking about gambling in general which shows how important to have those things (knowledge and skills). Well, of course, it was in the different strategies and market applications.
But if we talk about addiction, that is not the thing I look at between them. I'd never find such comparison as it was easy to stop trading than in gambling addiction.

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Quote from: Luzin on October 08, 2021, 09:59:44 AM

It's too extreme to call day trading the same as gambling addiction. I don't agree, it might look similar but I think it's different. indeed they are both guessing, but day trading has a strong foundation through technical analysis, and that may not be in gambling. Maybe the addiction you mean is an addiction that ends in loss. Actually day trading has a technique that must be mastered, especially emotional control. I think if you have it all will be fine.

This cannot be called an extreme, this is just the truth and situation that most of our eyes see as day traders are getting more exposure to the market with gambling methods, rather than highly trained techniques, it is worth noting that the spot traders demand too much optimization so they approach and accelerate the speed of time with leverage. Once the flow is chaotic, it is also a depiction of the day trader's introspection, too many intersections can form a gambling addict, with no sense and adjustment of the habit that will go out of control.

pawanjain

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That's quite interesting to know traders are getting addicted to trading as well. I knew that gamblers have addiction problems with gambling but this is new.
Even I have read that trading is often compared to gambling and this scenario is just proving the same.
I hope those gambling helplines are actually helping those traders who are calling them for help.
If otherwise we should be having a new category of helpline numbers for people who can't stop themselves from trading.

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

Apparently the apps are designed in such a way that they rewire a person's brain and makes it harder for them to leave that habit.

If ever a news article could be branded as fake news it would have to be the above far fetched headline. People with an addiction, be it booze, drugs, gambling... even banking the house and car on the stock market are prepared to blame just about anyone, or anything for their addiction ... except themselves and their greed/lack of control.

Luzin

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It's too extreme to call day trading the same as gambling addiction. I don't agree, it might look similar but I think it's different. indeed they are both guessing, but day trading has a strong foundation through technical analysis, and that may not be in gambling. Maybe the addiction you mean is an addiction that ends in loss. Actually day trading has a technique that must be mastered, especially emotional control. I think if you have it all will be fine.

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Quote from: milewilda on October 08, 2021, 08:43:54 AM

Quote from: ?? on ??

I'm having a doubt about that, some people doesn't consider dat trading as a gambling but rather the futures trading where they consider it like a guessing game. Long or Short and of course the leverage one higher leverage, higher winnings but no matter what I think addiction to trading can be count as gambling addiction right? I hope they would be able to help such people.

Future/Leverage are indeed on the gambling side no matter how you do make out good analysis but still those would really be having that 50-50 chance whether its a good call or would totally wreck
your balance.In the word addiction itself is never been good, anything which is excessive is bad and would really result into disaster but if we do talk about spot day trades then i could say
that this is much more worth rather than on playing gambling itself.You cant really make out some comparison since both does have different level of risk.

Trading can be a gamble because we are trying to risk our funds to winning higher more but the difference is gambling does not require too much deep understanding just understand how the game works and how to counter your enemy or the game itself, in trading you need to understand the market, how it works, what are the possible signal to get a precise decision to risk your money. Still i prefer the skill base to risk than being dependent on my faith.

milewilda

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Quote from: ?? on ??

I'm having a doubt about that, some people doesn't consider dat trading as a gambling but rather the futures trading where they consider it like a guessing game. Long or Short and of course the leverage one higher leverage, higher winnings but no matter what I think addiction to trading can be count as gambling addiction right? I hope they would be able to help such people.

Future/Leverage are indeed on the gambling side no matter how you do make out good analysis but still those would really be having that 50-50 chance whether its a good call or would totally wreck
your balance.In the word addiction itself is never been good, anything which is excessive is bad and would really result into disaster but if we do talk about spot day trades then i could say
that this is much more worth rather than on playing gambling itself.You cant really make out some comparison since both does have different level of risk.

mu_enrico

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The gamification part I think is just serve as a distraction to the actual issue. Day trading gets more addicting because of fast-paced cryptocurrency and meme stocks, combined with leverage. I still remember day-trading 10 years ago was just boring since the stock price movement was very slow. Nowadays, people can win (or lose) something in just one day, and it's somewhat random. I'm not saying that this tech development is bad, but certain people shouldn't get involved if they cannot control themselves.

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Quote from: AicecreaME on October 08, 2021, 07:14:22 AM

For me addiction on both things are just the same, it's bad if your addiction is exceeded anyone's expectancy, because you're really helpless if you are addicted to the point that you don't care about yourself anymore, you don't care whether you eat or not as long as you have something to gamble in Trading or Gambling, same stuff. The idea is both things will cause you bad things, losing money and losing yourself if you don't know stuff and yet you still do Trading or Gambling.

it makes no difference, you are absolutely right the most dangerous addiction is indifference to oneself ,want to eat or not the important thing is that it can flow the desire to gamble and that is very dangerous ,has a very deep moral message

instead of turning attention to day trading it's not much different because the situation when doing day trading follows trend or guess like a psychic and there is no guarantee the price grows fast ,and I think is like crash gambling but with a small risk of losing ,day traders hard to say sometimes it can be profitable and sometimes much worse because it feels like it eats away slowly

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

A really interesting article:
https://www.ft.com/content/8f9bbc77-06b1-4fbd-8b7e-6e381ba038a7

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.

The article goes far to compare the gambling with day trading, the trading platforms according to the article are now much similar to gambling and therefore when they talk about investing and trading, now a days, the animation, the applications, the bright colours, extreme profit and addiction is making it much similar to gambling.

Apparently the apps are designed in such a way that they rewire a person's brain and makes it harder for them to leave that habit.

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?*

If you are not involved in arbitrage or high-frequency trading (which is essentially a type of arbitrage), then intraday trading is completely equivalent to gambling. It is naive to assume that in any way it is possible to guess random price fluctuations over short periods of time, it is no less naive than guessing the result of a coin toss based on the history of tosses.

aioc

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Both Gambling and day trading can cause addiction because it involves investing with money and both can make you lose a big amount of money, I'm not into day trading but I know there's similarity based on the articles and experience of day traders, day trading consume a lot of time, effort, and money you have to be on the chart most of the time and you have to make the right decision from time to time and this can take a toil on your well being, so it's not surprising that they are showing signs of depression coming from addiction.

AicecreaME

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For me addiction on both things are just the same, it's bad if your addiction is exceeded anyone's expectancy, because you're really helpless if you are addicted to the point that you don't care about yourself anymore, you don't care whether you eat or not as long as you have something to gamble in Trading or Gambling, same stuff. The idea is both things will cause you bad things, losing money and losing yourself if you don't know stuff and yet you still do Trading or Gambling.

Topic: *Day Traders* are now calling gambling Addiction helplines!! - page 4. (Read 685 times)

Topic: Day Traders are now calling gambling Addiction helplines!! - page 4. (Read 685 times)