Addiction is the inability to stop consuming a chemical or pursuing an activity despite causing harm.
Very much the same happens to people who trade. Can we define trading addiction as a crossing a line between being passionate about investing and losing the ability to stop trading.
The problem focuses on the brain and understanding how its reward systems can train you to trade compulsively and dangerously.”
Here are some signs of addiction
- You spend far too much of your free time trading.
- You are trading stocks at work (and it isn’t your job)
- The “high” of trying to find the next “moonshot” is the focus of attention.
- You have feelings for frustration, aggression or attempt to suppress other personal problems.
- Losing money on a position makes you depressed.
- You can’t stop trading.
- Continually looking at your phone to check the latest value.
- You lie to others about what you are doing on your phone.
- The bulk of your investing advice comes from social media “experts.”
- You borrowed money on a credit card, home equity line, or a personal loan to invest.
- Your emotional state is directly tied to the outcome of the stock market.
- There is a lack of self-control or ability to stay away from your trading app.
Sounds like many people that I know are addicted…
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