*Day Traders* are now calling gambling Addiction helplines!! - page 5.

Poker Player

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Quote from: darewaller on October 08, 2021, 06:22:33 AM

In my opinion, gambling is chance based and trading is skill based hence if you are getting into skill based gambling like sportsbetting or poker then you are almost trading there. Moreover, trading will simply come down to the level of gambling when you are not trading with the help of technical and fundamental analysis.

I agree with you, the only thing I would add is that the problem that is causing a surge in addictions are the new technologies. They have many good things and have changed the world mostly for the better, but they have their dark side.

Nowadays people are addicted to dopamine in many different ways like Facebook likes on Instagram, porn or addictions related to money like gambling or trading. So it is not surprising that traders call gambling helplines or women, who rarely watched porn when there was no internet, seek help for porn addiction.

darewaller

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

*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?*

Hope you are aware of the fact that this has been and everlasting debate which keeps on happening across this forum. (People do ask like gambling can be day-trading in our trading discussion sub).

On q quick search I got few of our old topics which might be answering you:
Trading vs Gambling
Gambling vs. "leveraged" trading
Combination of gambling and trading
Crypto trading or gambling
Gambling is like day trading ?
Do you consider trading as gambling?
Outside risk: similarities between gambling and trading?
Sports Bet trading!
Which one is more risky? Skill-based gambling or trading?
Why trading is better than gambling?
Digital options - Gambling or trading?
Is Bitcoin Trading Gambling?

In my opinion, gambling is chance based and trading is skill based hence if you are getting into skill based gambling like sportsbetting or poker then you are almost trading there. Moreover, trading will simply come down to the level of gambling when you are not trading with the help of technical and fundamental analysis.

michellee

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Maybe some people will say that day traders are like a gambling addiction, but I think that will depend on how people use trading. If they can manage themselves in trading, maybe they will not become addicted to trading and they can trade anytime they want, even if they use daily trading. I think it is how we should treat our activity and as long as we can know how to manage our time, that will not cause a problem to us. Day trading is like a regular job that we do daily and even if we have a chance to lose, we will also have a chance to make a profit later.

Betwrong

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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?*

It is an absolutely valid comparison, imo. Some people say that day trading is similar to gambling only if you trade "without knowledge". But, firstly, there are gambling activities where skill/knowledge is involved; and secondly, c'mon, who on earth trades "without knowledge"? I personally know a trader who's losing money almost each time he trades, yet he considers himself such an expert that he's trying to teach others.

In short, I would compare day trading to skill-based gambling like sports betting and poker. Yes it's not a pure game of chance, but you can still get addicted to it.

peter0425

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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?*

I am also thinking that the community must make action towards educating people specially younger generation about Gambling and this may take effect sooner.

because the world taking this as major problem but not acting to prevent this,instead only inside the house this has been addressed but not in school or in other areas in which this must be tackled.

the people around the world being lured in gambling without proper knowledge on what will happen to them if mistreated instead only the advantage is what they have learned .

timerland

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This should be quite unsurprising.

Day trading has always been extremely risky and if you don't know what you are doing, it's literally glorified gambling.

Hopefully these people pull out early at least before they trade too much on margin and get themselves into a mountain load of debt... Lots of these stories occurring unfortunately because of this perception that day trading is glamorous and comes with lots of perks.

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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?*

Day trading will be the same as gambling when you do it without knowledge, there is nothing wrong with day trading as long as decisions are made based on trading analysis in accordance with knowledge, but I'm sure many do day trade just by guessing or just using feeling.
The comparison will be valid if the trader trades based on what I said above.

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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?*

In some way, it's similar to gambling in day trading you can also lose everything, and it involves minutes to minutes decision making it is not for the faint in heart, I'm not a day trader but I know of some friend who does day trading and has seen them lose substantial amount when they made a wrong decision and the market change unexpectedly if you are a day trader you should only invest what you can afford to lose
although day trading involves a lot of analysis there are circumstances that the outcome will not favor you, the symptoms of day traders are very similar to gamblers, depression, and anxiety that is why day traders also need a helpline like gamblers.

TheNineClub

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Setting aside the actual gamification of those apps (and yes, I do believe they purposely designed some features that would trick your brain into thinking that this is a game), but in all honesty, day trading in itself is quite addictive and it's a valid comparison of it being like gambling. Just look at what was going on in stock markets in the 80s and 90s. The traders there were chasing that high day in day out, risking huge amounts of someone else's money. In the end, for them, as it is for a lot of day traders now, it's not about the money, it's about that adrenaline rush you get when you know you got one up on the market.

Gozie51

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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?*

Gambling is not the same as trading and day trading. This is the opinion I have on this. Gambling is not really based on analysis, it is done with the idea of depending on outcome of the luck and to say more, sometimes when you are winning in gambling some people say they are lucky today and that is just about gambling for what it is. Trading is different from that, it is serious bargain for buying and selling that is why it is called trading.

leea-1334

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As mentioned above,,, I also saw many Yobit traders (I stopped using the site a long time ago) complaining on the trollbox they lost money not just on the "dice" game with huge edge but on the investbox and ICO options which of course we all know were ponzi schemes,,, but of course people who got greedy pretended they did not know the risks.

Trading is not gambling,,, but many traders gamble.

davis196

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Day trading is pretty much like gambling,if you don't know what you are doing and expect gigantic profits with little to no effort.
Gambling is based on luck(maybe except poker).Day trading should be based on skills,proper analysis,controlling your emotions and discipline.I know that most day traders are far away from these requirements and they just want to buy a shitcoin and wait for it's price to go 10x.This kinda makes day trading similar to gambling,but there are differences for sure.
And yes,the day trading apps want to make a compelling design,that will hook the traders and keep them on the platform for as long as possible.I don't find anything wrong with that.The traders aren't supposed to act as if they are kids in a candy shop.
The traders are mature adults,who have to control themselves.

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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.

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Quote from: traderethereum on October 08, 2021, 02:32:56 AM

Day trading will look like gambling if the trader does not analyze to find the coin instead of using the other suggestion to buy the coin.
That can lead them to select the wrong coin and in the end, they will just lose the money and can not make a profit.
If you can analyze your trade and not just listen to other people, that will not be considered gambling because you have the basic thing you use to analyze.
Maybe trading could be considered as gambling as we hope that the coin will increase in the next few hours/days.
But for me, trading is not similar to trading if we know how to trade.
Just my 2 cents.

its individual outlook of the traders on speculating the price. if 1 out of 100 that says trading is like gambling, that 1% will look at it as gambling even with candlestick charts are analyzed. i don't see it as a problem if they are just going to win but if they lose even in the spot market.

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.

traderethereum

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Day trading will look like gambling if the trader does not analyze to find the coin instead of using the other suggestion to buy the coin.
That can lead them to select the wrong coin and in the end, they will just lose the money and can not make a profit.
If you can analyze your trade and not just listen to other people, that will not be considered gambling because you have the basic thing you use to analyze.
Maybe trading could be considered as gambling as we hope that the coin will increase in the next few hours/days.
But for me, trading is not similar to trading if we know how to trade.
Just my 2 cents.

iv4n

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Quote from: cafucafucafu on October 07, 2021, 06:18:08 PM

Day trading was always gambling no matter how you look at it.

The fact of the matter is that these people looking at charts like some sort of astrology sign without proper risk management are playing a zero sum game against institutions that are 100x better than them.

It would be better for them to just play dice or something, to be honest.

I totally agree! I am saying that for years, day trading is gambling, and in that game people are playing against more powerful players, robots.. It's something I saw for myself when I was trying to make some profits from daily trading, and who ever tries it will see the same thing.

Well, I am playing dices and it's more interesting than daily trading. I can't say it's more profitable, but definitely it's more fun.

People get addicted easily when something is interesting, and that's not a big problem...it becomes a problem when people start losing too much. Don't do that!

molsewid

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Quote from: Lanatsa on October 07, 2021, 06:56:21 PM

Gambling is different from trading but talking about the risk then it is really just relatively close but doesn't mean that you cant really make out some advantage compared on one another.

You do force out people to play gambling instead even if they do like to day trade? Yes, this wasn't simple but doesn't mean that it couldn't be done.

Addiction is on everything but there are things which could give out benefit rather than on messing your life.

Well if we would take a look between gambling and day trading the essence of these two activities are definitely different from each other though both activities are requiring to take the risk of losing the capital that you put in it but comparing day trading and gambling I think is not appropriate. If we would think about gambling, gamblers are not just gambling for the seek of earning or winning but also with a sense of entertainment which in day trading there's no entertaining here when you are putting your money to day trade, it's purely aiming to get earn or win no matter how big the risk is.

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Quote from: carlfebz2 on October 07, 2021, 04:35:42 PM

Quote from: bittraffic on October 07, 2021, 11:47:21 AM

The article says because of the broker apps that has game-like features, I wonder which one they are referring to but it was back in the days already when we see exchange have their own dice games too like yobit.

If the trader experience the same thrill as gambling like how they feel on horse race betting I guess the association of it made the trader think he is gambling.

To me, trading and gambling is very different because of the chart I'm analysing.

Yeah, remembered out about yobit which does have basically have some dice game or race game which could turn out those traders or users would really be having the easy access of those features which would really

result into more spending.If we do talk about basically on trading features that isnt gambling-alike then i dont see any connections because graphics and interface should really be that interesting and appealing.

Addiction is something applicable in all aspects or things that we do have as long you do engage it excessively and able to spent out lots of money or waste up then that would really be considered addictioon
which should really be stopped.

Well thats not new, even before yobit... there are plenty platforms doing that, so yeah it was not a new trend but rather a classic one.
a trading platform using gambling tools, games etc... everything looks really bias.. i mean user would feel confused whether it's trading or more to gambling when this kind stuff available in a platform.

i remember fbs doing the same shit since long time ago, there is a lottery.. slots-like game etc, shit broker.
so no wonder if people start calling gambling addiction helplines in for trading thesedays.

imstillthebest

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Quote

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?*

according to me ? they are verry far to the fact that im not doing daily trading . i believe on what others are saying that trading is a hard activity but gambling is verry easy and even if your new to it , you wont get intimidated to get started and continue .
trading and gambling requires money and may cause addiction , thats the reason why they compare or say that both are simillar in some ways .

Oasisman

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There is a fine line between gambling and trading in general, but at the same time they are very different from each other.
Though both involves risk and of course money, but there's something more you can do and change when you're day trading to mitigate the risk involved than plainly gambling like dice or horse racing which is always dependable of the fixed outcome.

So, for me I think day trading is still far to be considered as gambling.

Topic: *Day Traders* are now calling gambling Addiction helplines!! - page 5. (Read 721 times)

Topic: Day Traders are now calling gambling Addiction helplines!! - page 5. (Read 721 times)