Topic: How to Prevent been a crypto addict. - page 5. (Read 9378 times)

Having a hobby can solve the mentioned problems,daily life should be able to break the cycle(Trade,eat,sleep,repeat). After reaching highly dangerous level of trading I use special softwares to make a trading positions for me. My best choice is to use automation in this case.

They say, where your treasure is, is where you heart is, no normal person will just keep focus on the market without having a treasure inside which is their investment, or using it to make money,Provided your focus in on the market to make money, I think that is a sweet nice addict. Many people you see on their system several hour are traders, especially those who are not using their stop loss tool o profit taking tool built on the platform to trade, they rather prefer to trade manually.

These people are therefore required to constantly be monitoring their trade so as to know the spot to buy and the spot to sell so that they don’t miss that slight opportunity that may elude them when they take their eyes off the trade, that is why I always advise traders to endeavor to make use of some of these facilities already provided by trading platform to make trading easy.

You are trading for 18 to 19 hours a day? I don't believe. It's impossible.

Between those times, surely you do other things. So how's the profit?

Want to have a normal life back? Then be a "responsible" trader. There are lots of successful traders today that doesn't even deal with the market the whole day but still getting a nice average in return.

Why prevent crypto just to have a normal life? Help yourself.

my advice is to manage the right time for trading time. and maybe you should find the right time in trading so that you are not too often addicted to crypto and can set crypto as needed

let's look at your post to another angle, let's talk about WhatsApp, how many hours do people spend on WhatsApp? probably many hours, and these people are addicted? probably. But here comes your case, I believe you use WhatsApp, how do you divide the time by spending several hours on WhatsApp and other social networks and still get 18 hours to look at charts to watch the price? that's not possible. You must be deceiving yourself about the time you observe the price.


I agree

It is good to be addicted to something that is good, but those, who really spend up to 19 hours watching the market are sick people. Only psychologists can help them...or they need to find another addiction, eating not so much time.

OP, if you're that addicted of a trader (and hopefully you're not losing your shirt), the only thing you can really do is to just stop.  That's what I'd tell anyone who's addicted to booze or drugs--easier said than done, but it's the only way to stop an addiction/compulsion in its tracks.  If I were you, I'd probably sell everything you've got and convert it back to your local currency.  That'll help you stop watching the market.

I used to obsessively follow the stock market, and I owned a lot of stocks at the time.  There came a point where I had to sell everything, and believe me I didn't watch the market much after that.  When you've got no skin in the game, it's so much easier.

not every trader like that, must be in front of the market. we have to determine our trading time, for those with long-term or medium-term trading, there is no need to look at the market at any time. or we can use stop loss and take profit

If you learn to make a plan before you buy a coin and follow it, your quality of life will improve significantly. You also need to learn to take control of your emotions and cultivate peace and patience.
If you are a daily trader, then you need to start trading on longer timeframes. This will allow you not to worry so much about what is happening every minute.
Observance of these recommendations helps me to live a full life and not to spend most of it in tension and worries. I trade on 4h, 12h, 1D and H time frames.

There is a lot of ways to have your old normal life back it is just up to you .
You could always take a break in crypto world and relax but most of us just doesn't have the time to do it.
Most of us needs to earn money to have food in the table to sustain our life not everyone could just relax because they need some money so even if they wanted to stay out of crypto they don't have a choice.

All good comments and an important thing to raise. Bit of a personal post as this is such a critical topic.

The team here have traded stocks and shares, commodities, currency, binaries, we've spread bet and ICO'd and no doubt more. We've trained in technical analysis, fundamentals, charting and applied that to all manner of trades.

It's easy to get drawn in, being at the desk for 7am and spending more and more hours reading the news, twitter, feeds, forums, papers, telegram, etc. Catching the markets opening to assess initial direction, place morning trades, hedging on moves, shorting the bad news, etc. Get to 4pm as the EU and UK markets close, but the US is now trading so assess what's happening there, what reports are coming out, how will it affect the Asian markets when they open on the news. Oh, but we're looking at the 24hr markets so there's never a time to stop...

Then along comes crypto. All the above magnified by 100! The trading opportunity of our generation. Wealth creation where the 'youngsters' and tech savvy have the advantage over big money. Gotta get on it while we can!

It's too easy to get sucked in even where you're not really an addictive type. Hey, you're not weak you're hard working, committed, ready for the grind, happy to put in the work.

But please stop for a moment and let the grey haired one share one piece of wisdom!

Develop a Trading Plan and stick to it.

It will help avoid FOMO trading, emotional panics to market moves and help you hone your approach. No trader in the real world operates without a trading plan. People without a cold, hard, rational trading plan are gambling amateurs.

Please search for 'the importance of a trading plan' and spend an hour reading/watching, then build your plan.

These are the trades of my 11yr old son on an IG Spreadbetting demo account - using his trading plan. Bit of luck, lot of sense. (he's better than me!)
https://i.imgur.com/Prg686k.png

If he can do it, you certainly can knowing 10 times more than he does and being far more mature.

You can succeed at trading. Just don't gamble - trade and invest by executing your trading plan.

Regards,

CBF

i used to be like that , could not resist checking my phone of updates on price , and when i was sitting at the computer i had a tab with the price, you just have to force your self to not do it , the hour to hour price is pointless , check like once a day its enough to keep you updated.

Maybe you should just accept that the business you’re into has a lot of risks in it and be ready to lose your money as well, then you wouldn’t one about checking the price.. Cause I don’t even see anything wrong with using your phone to check crypto prices there is nothing wrong with that dude… or maybe you can get a wallet that has price notification, just like Coinbase wallet so that you can set prices notification and wouldn’t have to be checking prices all the time… rather you will be notified when prices goes above or below your settings.

 If you're being addicted with crypto don't stop it, but rather manage it. Crypto addiction begets financial improvements, and it's totally different with crypto gambling addiction. If you're doing well with crypto as being a hodler of promising coins, collect them all and don't sell until such time it became worthy to sell for good price.

Well if this addiction is giving you profit then I think its not really bad because you gain something from it even you spend most of your time monitoring the market. However if you're just addicted because you want to earn but often failed then its time for you to change your strategy.

Set a limit on when to monitor the market or instead of doing regular trades change it to long period hodling. In that way you dont need to become updated all the time since you set to have a target price on when to sell. You just need a self control to refrain yourself from doing what you used to do everyday.

That is the catch, everyone is here to make money. That is why we got addicted to it. Specially during the last bull run of 2017, I'm sure a lot of you stayed up late and doing your trade. I know this because during that time a lot of users are creating thread saying that they quit their job to focus on earning huge amount of money.

But for what price? Your health and your socialization? Personally I won't that route, I'll assume that the OP is still young, life is full of adventure, snap out of your addiction and I'm sure that one day you will appreciate that you did.

Put in automatic weekly or monthly buys. Set it for a year and walk away. Don't look at your account for 12 months. Do other things with your life and let your investment work for you.

For me addicted into crypto was not a problem.hehehe this is just for me.you are addicted because you want to earn money.well I know that being addicted was bad in our health specially your doing of 19 hrs in front of monitorung crypto.only 5 hrs left to rest.This can cause unhealthy body.what the use of earning such money from crypto if you will get sick.
For this matter I advise control your self.manage your time.give give some time for your self for your family for God and for crypto.have a note to alarm to do things not too much focusing into crypto.yes it is important to someone who wants to get a easy money but you have into control.its up to you when you should stop and go on continue trading.dont be so greedy to get a big earning money.do it slowly not as being addicted.

I think everything is about how we control ourself. By the way, in trading if we get addicted and can keep to train our skill, it will be advantage for us. But might be different if we addicted in gambling, because a lot of bad affect will come with it.

Self-control is all you need.Put up a restriction in your time on how much time you would only spend on trading but yet we know that opportunities on the market doesnt have corresponding or specific time thats why we do randomly look everynow and then on the charts.I cant really blame to that but anytime you can make money out of price movements.
If you do see yourself as an addicted one then better to lie low on trading activities and divert your attention into something else.