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Day trading addiction  

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Hi there

I am glad you posted this thread and I have read it today.  I myself have had gambling problems in the past, but on the whole I have left them in my past whilst being occasionally reminded with the odd re-lapse.  I use Gamstop so I cannot gamble online on normal gambling site.

However, just this week I succumbed to opening a financial trading account. I knew when I was opening it would probably end in misery and I tried to justify it in my mind that it was not gambling but this was going to be trading and it was different (I myself work in the gambling industry which probably does not help me).

 I went in not knowing at all what I was doing, trading things like Gold and watching the price move up and down.  For my purposes deep down I knew I was just taking a complete guess and giving myself a gambling fix, the same way I would bet on any random sporting event when I just "wanted a bet".  The very nature of CFD's is that they are very volatile things. In just 48 hours I was on the end of one of the said margin calls and very quickly had to fund more or have my positioned closed. Just this week a position of mine was closed for me and my balance wiped.

Hopefully for me it will just be one small relapse back to gambling.  I call it gambling, because for my purposes it was.  Some people trade, but almost all do not.  These sites even carry the data that over 78% of retails CFD accounts lose and many brokers think it is substantially more.  For anyway with a predisposition to gambling spread betting on the financials or sports are both extremely dangerous.  It's strange because I knew this already deep down, but because it was "trading" shares, silver, gold, FOREX rates I convinced myself I was not gambling.  I most certainly was (and if I am honest deep down I knew it at the time), and I hope it will be my one and only dip into the financial markets.

I guess I am waffling, but it is just to say I understand and think you are right to want your husband to leave the trading. I hope it works out for you and you can get the help and support that you need.

Take care

Posted : 26th May 2020 11:58 pm
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