Sunday, March 21, 2010

Addictive Trading: When Trading Becomes a Problem

I recently encountered a daytrader who had blown up his trading account.

For the third time.

He was now making the rounds of prop firms to get money to trade.

He had reached middle age. He had a family.

He was "ready to get to the next level."

He had a "passion for trading."

He had no profits to show for years of trading...indeed, he had gone through the family savings.

He had no trading journals, no records to document any progress that he had made as a trader.

Because he had a "passion for trading", not a passion for mastering markets.

What a complete fail.

What makes such a person different from a problem gambler? A person addicted to drugs or alcohol?

The consequences are no different; nor is the waste of life.

If you've been trading for years and have little to show for your efforts, consider the possibility that trading is your problem, not your answer.

Then--for your family, for yourself, for the future--do the right thing and find your genuine path in life.

A good start can be found from among the links below:

The Problem of Trading Addiction

Evaluating Problem Trading and Getting Your Life Back

14 Symptoms of Trading Addiction

Warning Signs of Problem Trading