Topic: Netflix's Money, Explained: E04 Gambling - page 2. (Read 353 times)

Overall it will still depends on the individual who's mental state gonna be twisted or has no further knowledge how the system works with gambling or trading. The one thing lacks to those who gets addicted are their discipline over it, if you are a discipline gambler for trader then you're winning over their system.

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One thing that we are all familiar with is the psychology that the gambling industry has evaluated to keep their customer to gamble by using the so-called "hooks". These hooks are something that will make people sit for long hours while making their gambling experience more enjoyable and enticing to make a lot of money.
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Thank you for posting this. I cancelled my Netflix account a few month ago, so I don't see anymore when new documentaries are being uploaded. To be honest, the most shows that interest me are about finance and economics.That is also why I switched to curiosity steams. Hope they will add this series too. When it comes to money we can all learn more.

I think gambling here is referring to casino gambling where games are more or less luck-based. If so, that would be a lot different from day trading. When you're on a slot machine, for example, the main thing that you do is to pull that lever, cross your fingers, and hope that you'd hit the jackpot. That's not what day trading is about. If that's what a day trader does, he/she better quit. There is a need to analyze in day trading. There's nothing to analyze in luck-based casino games.

Hook is a good term to avoid saying addiction.When a gambler wins he feels the adrenaline for a little time and once he is calm again he goes gambling again because he thinks he will win again.The same when he loses,there is no adrenaline here but is the subconsciousness that says to him "bet again to recover and stop playing" which in reality never happens.Netflix tries to show this in a softer way but the truth is otherwise,also day trading is the same as gambling because the same factors are behind it,adrenaline when you win and the subconsciousness when you lose and try to recover.

One thing that we are all familiar with is the psychology that the gambling industry has evaluated to keep their customer to gamble by using the so-called "hooks".

I was able to watch this episode of Explained series. The episode is very great, first, they started with the history of gambling, like how it evolves.
It is a very short episode and it was only limited to gambling, but they explained greatly how it works, like how it was connected in our brain.
They more focus on dice games, slots, or like based on luck gambling.
They aren't able to explain some sports gambling which my question is, it is still the same when it comes to sports gambling?

I recently watched the first 4 episodes of Netflix's "Money, Explained" and one of its episodes discusses the mechanism of how our brains work when gambling. Personally, the "Gambling" episode was an eye-opener for me as I have gained a lot of interesting facts and different collective opinions which might give us a different point of view.

The Gist of the episode:

The fourth episode is all about gambling, its history, the psychology behind it, the process of getting hooked into gambling as well the most alarming issue that I have heard where it says that day trading is just pure gambling.

One thing that we are all familiar with is the psychology that the gambling industry has evaluated to keep their customer to gamble by using the so-called "hooks". These hooks are something that will make people sit for long hours while making their gambling experience more enjoyable and enticing to make a lot of money. In effect, if these people have been "hooked", they will now fall under a mental state^[1] of total focus called the "The Zone". This means that the long hours of keeping people into gambling, the more money they can take out of other people's pockets.

These psychology tactics have also led other trading and investing company to use them to keep people unaware of the risk they are taking while being spammed with notifications of the current market sentiment, and an opportunity to get a free stock. Moreover, this episode also emphasizes that day trading is equivalent to gambling.

My take:

I am aware that the argument about day trading as gambling or not has been discussed often before and it could be tiring to prove a particular point due to its subjective nature. One could say that day trading is a combination of little to non T. A and pure luck, others would say that day trading could never equate to gambling since the ability to read charts and proper risk management would decrease the percentage of getting rekt.

It will just result in a never-ending comparison.

References:
[1] https://www.peaksports.com/sports-psychology-blog/mindsets-to-help-athletes-perform-in-the-zone/

I used to mentioned about this so called 'gambler's cycle' where a person, regardless of he/she wins in a game, will most likely bet again.

The explanation for this stems from the adrenaline of a person when he/she wins. You get to feel the excitement of winning the bet and you also think that you would win again. In addition, gamblers who lose in a game will most likely bet again since he thinks that he would be able to recover his losses from betting again.

This 'hook' that you stated maybe falls in the explanation above on why most people tend to stay longer at gambling industries. This is a good read and I will heavily consider watching this show. Thanks for this!

My take:

I am aware that the argument about day trading as gambling or not has been discussed often before and it could be tiring to prove a particular point due to its subjective nature. One could say that day trading is a combination of little to non T. A and pure luck, others would say that day trading could never equate to gambling since the ability to read charts and proper risk management would decrease the percentage of getting rekt.

It will just result in a never-ending comparison.

a compulsion loop creates a three-part cycle: the anticipation of receiving some reward, the activity that must be completed to receive that reward, and the act of finally obtaining the reward.

It will just result in a never-ending comparison.

I am aware that the argument about day trading as gambling or not has been discussed often before and it could be tiring to prove a particular point due to its subjective nature. One could say that day trading is a combination of little to non T. A and pure luck, others would say that day trading could never equate to gambling since the ability to read charts and proper risk management would decrease the percentage of getting rekt.

It will just result in a never-ending comparison.

I am aware that the argument about day trading as gambling or not has been discussed often before and it could be tiring to prove a particular point due to its subjective nature. One could say that day trading is a combination of little to non T. A and pure luck, others would say that day trading could never equate to gambling since the ability to read charts and proper risk management would decrease the percentage of getting rekt.

It will just result in a never-ending comparison.

One thing that we are all familiar with is the psychology that the gambling industry has evaluated to keep their customer to gamble by using the so-called "hooks". These hooks are something that will make people sit for long hours while making their gambling experience more enjoyable and enticing to make a lot of money. In effect, if these people have been "hooked", they will now fall under a mental state^[1] of total focus called the "The Zone". This means that the long hours of keeping people into gambling, the more money they can take out of other people's pockets.