Topic: *Day Traders* are now calling gambling Addiction helplines!! - page 6. (Read 684 times)
That kind of strategy to make money have both risk but I guess gambling is for the luck and strategy because it's all about being against the odds to win the game, in trading you can win a trade base on the market and different skills related such as the technical analysis, strategy, trading plan and more. These both give us a good profit and the risk to lose more. Which can be an addiction towards to the investors. It is good to grab the opportunity to get a higher risk and reward. I prefer trading than gambling its all about the knowledge.
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 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. Is that a valid comparison?? Are we soon going to consider the day trading *gambling?*
But trading and gambling are similar in some ways:
1. It can lead to addiction, if you are losing more than what budgeted for, then stop trading at the time, also stop gambling
2. No matter the type of trading, I mean opening and closing of position, trading is gambling for beginners because they know nothing much about it and they will lose and lose before they have more know and experience
3. The probability of money loss is much more and more far higher than the probability to make profit.
But gambling is game of luck, but trading is not the game of luck for experts but a game of opportunity, but trading is basically gambling for beginners that just started.
Trading and gambling are though different but they are still also similar, more people that gamble or trade make losses than win.
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?*
Is that a valid comparison?? Are we soon going to consider the day trading *gambling?*
For me, not a valid comparison because they have a different approaches. While both need a strategically ways to win and money is at risk, the ones they are dealing with are a different environment. When someone becomes addicted to gambling, majority will encourage those to stop. But when someone got addicted to trading, they will be even more encourage by others since it's not just about getting profits but the knowledge people will gain by trading can be useful in many ways.
I'm glad that there are people seeking help although they called the wrong line. These people should try to read trading stuffs 101 everywhere and practice it to make it perfect.
Yeah, I was under the impression that gambling and trading has more similarities than difference so I wouldn't be surprised by the data that day traders are calling gambling addiction hotlines to seek help because they can't control themselves specially if they are losing money in today's market movement. And that's why it is really hard to be a day trader, specially if you prefer to short let's say bitcoin because you are going to get REKT.
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.
True. Everyone knows the market is unpredictable on short run, so it's impossible to use skills to foresee crypto market's behavior in a 24 hours time period. Sudden events which may happen without previous warnings can affect the market positively or negatively and are out of anyone's control. As a hobby or extra income that is fine, but nobody should rely their lives on this activity.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.
The point is that day trading has become a profitable niche for many internet gurus selling their courses and masterclasses promising huge returns in a daily basis for their customers/disciples. Youtube is infested with such content as people go for it, because they want to left their currently jobs while increasing their money income doing less effort.
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.
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.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.
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.
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.
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.
Day traders are a risk taker just like gambling and if they think they are already addict on that without having any self-control then its ok for then to call the addiction helplines since they need a help, and they are losing money as well. If you can help people please do so as much as possible, we are all fighting our own battle and addiction is a bad thing that can ruin everything.
Day traders doesnt totally doing gambling it might be risky but doesnt mean that it could really be comparable to gambling literally.We know that chances on making profits are there if you do really know on what you are doing and this would be typically be treat up when you do play strategic based games too but honestly they are still different on some scale.Investment is something that cant really be
be tied up with gambling so its a different thing which does need different treatment or engagement.
I think it's different and gambling is clear from any definition. When lately many think the same clearly means it's not trading. Because trading, after all, there is the concept of buying and selling, while gambling is risking. When there is trade but with a gambling pattern, it is referred to as a gambling guise in the name of trade.
A really interesting article:
https://www.ft.com/content/8f9bbc77-06b1-4fbd-8b7e-6e381ba038a7
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?*
https://www.ft.com/content/8f9bbc77-06b1-4fbd-8b7e-6e381ba038a7
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?*
Good article and old question.
Day trading and even trading in general is close enough to gambling. Not for dice or slots but rather to poker or other games where you can affect the outcome at least a little.
The same with online games and some other activities .
But of course, in the same time trader != gambler. There a lot of traders without addiction which consider their activity as a job and nothing more.
Day traders are a risk taker just like gambling and if they think they are already addict on that without having any self-control then its ok for then to call the addiction helplines since they need a help, and they are losing money as well. If you can help people please do so as much as possible, we are all fighting our own battle and addiction is a bad thing that can ruin everything.
~snip~
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 been always considered gambling in day trading because of the fund that you risk on it and the quick reaction of the market is similar to gambling. You gamble and risk your fund to the unpredictable market and hoping that it will have a double amount result. That is what we called gamble, though this is not a game since there is something risky, still it can be considered gambling, and if anyone will get addicted because of it, one thing has similar is the risk involved in it. For me, that is a valid comparison day trading can be gambling. 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?*
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 for those who are not really confident with their technical analysis in their day trades often are just gambling their chances on what they predict the price would be. Trading is somehow a gamble but the predictions can be infinite whereas gambling itself can be a 50:50 chance, 1:6, and so on. yes it is a valid comparison where there is no really huge differences in its general idea and action. It's no common that the market would make some traders require helplines as many can win many times and won't see the time passes. Day Traders are often engaged too much as it is their living, then therefore no wonder why it can drive them to trade more and more.
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 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.
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.
To be frank, I visit exchanges where I am trading, minimum 50 times a day. So is it the indication of an addiction or being responsible in checking out my assets have got any profits to me? Have lots of questions. Recent ATH of Bitcoin and news spread about other crypto currencies growth, people started investing and eagerly looking out for their profits often a day? Is it due to more expectation or how this can be called?
If you are trading 50 times a day then it is a similar to gambling in casinos but not entirely. Only the risking though and if you are only checking your trades then it is not an addiction but being active to check if you have profit or not. I think it is called following the trend. I have read somewhere in a thread where forum just woke up from deep sleep after hearing ATH bitcoin price news. 
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?*
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?*
Day trading successfully over the long term hasn't been possible for about 15-20 years. That is probably why so many people are calling these hotlines, because it is such an exercise in futility that it may as well be gambling. People who do actually trade professionally are building their strategies around what will happen in 3-6 months and trying to make money that way. Like they would have seen oil prices were exceptionally low until recently but everything in history points to an eventual recovery - which has already taken place, so they would have made money by simply buying oil company shares a few months ago. If you want to invest in companies, do it for the long term and definitely stay away from any apps that look "flashy".
I think this comparison of gambling with day trading is absurd, as the name says: " gambling " are games, day trading is not a game, it is something that needs to analyze the market, it needs to have a deep knowledge on the market, are completely different of gambling. I hadn't heard anyone say they got addicted to day trading, honestly this is the first time I've been reading this... but the chances of someone getting addicted to day trading in my opinion are very small, that's because day trading doesn't Easy money, the person does not buy any asset hoping to guess and make a profit, this is not how day trading works and almost everyone knows this, but in gambling people know that they are playing, that they are betting money and if they have lucky they won.
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?*
IMO Day trading has a strong similarity with gambling reason being that they can both become compulsive. I've seen day traders who can't go two minutes without trying to check the charts, even at fun events where one is meant to relax. To me that's an addiction and it's no different from gambling.
Is this really related or not, but personally what is said to be a kind of gamble from day trading is when they trade futures. So it is very appropriate if you look at the level of profit and loss you get.
At first glance they will be very different, but when juxtaposed both use the same pattern. I can't fully say that this is a 100% form of gambling, perhaps more precisely, there are similarities in features that bring day trading traders like on a platform that uses crypto trading but inside it doesn't seem much different from gambling activities.
If they did really feel the thrill that they are looking for like in gambling then it may be considered as gambling. There are many forms of gambling not just playing card games and many more as long as there is a situation where a person is willing to risk his money just to earn profit. I would say that it is a gambling type of activity but in different way. At first glance they will be very different, but when juxtaposed both use the same pattern. I can't fully say that this is a 100% form of gambling, perhaps more precisely, there are similarities in features that bring day trading traders like on a platform that uses crypto trading but inside it doesn't seem much different from gambling activities.
Agreed, and it has its own set of rules. Depending on your strategy, trading can also be a game of chance. When you first start trading, you'll often hear or read that you shouldn't treat it like gambling; you're simply casting trades without a proper strategy or knowledge, and you're relying solely on luck, which will cause you to lose money in the long run. You are correct; no matter what kind of game there is with money involved, it is still gambling. As long as you agree on the same rules to win the game, you are good.
I also think so about situations that lead someone to gamble, then trade but have the same risk of losing. So so far in terms of trading I like long term trading. As for gambling, make it only according to the season to see the conditions that support it to entertain yourself. Nothing more than that, the goal will be very much different and avoid addiction.
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?*
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 think that the doubt in many lies when they enter trading without knowledge and begin to do many negotiations based on sheer luck and doing what their feelings dictate, in that case it is dangerous to do trading, because that is when the said that trading is not gambling.
Mainly the difference between Trading and Gambling is that gambling has a lot to do with luck and randomness, leaving a very minimal percentage of knowledge + experience, on the other hand, trading if you know more, it is likely that you will earn more, with a very minimal percentage. left to chance.
I have friends who have dedicated themselves to trading starting with signals and then leaving everything to chance, but the moment their luck runs out they lose absolutely everything.
I think one of the most important parts of the article to highlight is this:
Quote
“The user experience is converging and the line between gambling and investing, which was already pretty fluid, has almost been completely erased,” said Keith Whyte, executive director of the National Council on Problem Gambling, among the groups reporting more calls from stock traders to their help lines.
https://www.ft.com/content/8f9bbc77-06b1-4fbd-8b7e-6e381ba038a7 Jump to: