Many people/traders do not realize that they are addicted to crypto trading, even though the influence of crypto trading addiction is initially very thin, but if allowed to continue it will become thick and difficult to overcome. They do not have a trading schedule but sit in front of a computer/laptop most of the day almost every day analyzing charts, market research, technical analysis, fundamentals and sentiment. of course it will be very dangerous for their health both physically and psychologically, especially they often eat late and lack sleep. they also become more isolated from the environment. besides that financially they also often lose, because their common sense does not work as it should.Some other signs that someone is addicted to crypto trading are that they often enter the world of trading without a plan and strategy, monitoring crypto prices indefinitely, not interested in other activities. In my opinion, even though crypto trading is basically not gambling, if a trader trades without a strategy, a plan and is only based on speculation then it is no different from gambling.
How to Overcome Crypto Trading Addiction?
- Thread starter Suba
- Start date
I have never taken into serious consideration that one can get addicted to gambling. But I see now how that is so possible. That is why traders need to have a plan and a schedule.
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- #3
I totally agree with you, we traders must have a plan and strategy, be able to control emotions not when trading but also to refrain from entering the market if things don't go according to plan.
Even if crytpo trading is an addiction to me, why would I want to get such an addiction off me when I make a lot of money from it rather than me getting to lose money and getting drunk due to being addicted to crytpo trading. There are some addictions that are good addictions and crypto trading which brings fort profit is a very good example of a good addiction.
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- #5
As long as you trade crypto and can make a profit, it means that your addiction is still within reasonable limits, because you can think clearly, like making plans and strategies. But the problem is if the addiction is controlled by revenge due to past losses, so that trading is often done without a strategy based only on emotions, so that any amount of capital will run out.
Over trading is a real pain for cryptocurrency traders, especially newbies who have issues with controlling their emotions. Some will only feel comfortable when they are actively trading, but there are times you just need to sit on the sidelines
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- #7
Over trading will have many meanings such as using too much capital, opening too many positions, trading beyond the limits of risk ability, etc. If we conclude, over trading is trading without a strategy and plan, so it is similar to playing gambling.In general, over trading has characteristics such as even though it has lost several times but continues to open positions, being too confident as a result of winning several times at the beginning of the trade.
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- #9
I agree with your opinion, to limit trading capital and time, means you have a good trading plan, this is one way to avoid crypto trading addiction. and get used to trading crypto with a healthy pattern.
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- #11
Actually trading addiction is not only to crypto but also to stocks and forex, of course dear, it is very different between addiction and professional day traders who sit at a computer desk every day, but they still use their minds, namely plans and strategies, addiction relies more on instinct and emotions so their trading went awry.
This depends on he individual but as for me I don't see trading in crypto currency as addiction as I have not heard of anyone who is deeply into the trading of crypto currency complain about huge losses than the profits that they have gained from the trades that they make on crypto coins. Be it Bitcoin, Altcoins, memecoins or shitcoins.
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- #14
There are many news sources to find out about crypto trading addiction. If the addiction is still mild, of course it can be controlled by oneself or family assistance, but if crypto trading addiction has spread to mental or psychological aspects, rehabilitation or therapy is needed.Please search for additional news on Google.
Thank you for this beautiful information right here as I was only speaking based on my own personal opinion and did not consider the fact that crypto trading addiction could get to that level where it becomes more like a mental illness. I agree with you that when it gets to such a stage then one needs to be taken to rehabilitation center for help on overcoming such addiction.
Well, my cryptocurrency trading addiction was almost over during the time I faced loss. People who are addicted to gambling might be the ones who are more likely to suffer from cryptocurrency trading addiction.
Wow, this is absolutely mind blowing, I have never heard of cryptocurrency addiction before, well all I know via that it's not good to do something to the extreme as it could be very harmful both psychologically and physically.
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- #19
Actually doing anything that is continuously uncontrollable (not only crypto) can be addictive, which is why we must be able to control ourselves, especially when trading crypto, adhere to plans and strategies.
Actually anything can become an addiction if you do not put limits, especially if you have a tendency to become addicted, you have to have control in everything you do, so as not to become addicted, especially in those activities that can reward you with an economic incentive, since these can be highly addictive such as gambling or trading.