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Forex Trading Addiction
Written by: PaxForex analytics dept - Friday, 12 August 2016 0 comments
When we hear the word addiction the usual association is to simply pin it to drugs, alcohol, etc. Trading is certainly in no way excluded from this group and being addicted to it can be just as detrimental as any other. It can affect you marriage, social life, finances, etc., in the same way that any other addiction can. Many traders disregard or forget to assess themselves whether forex trading is generally good for them or not. Addiction is defined as continuous involvement on a substance/activity despite the negative consequences.
Forex trading coaches, psychologists and countless books will talk about losing self-discipline, self-control and patience. But seldom will the very real danger of addiction be contemplated and addressed. Very often, losses of the aforementioned attributes in the market are related to addictive patterns of behavior. An addiction occurs when an activity provides a strong source of stimulation that, over time, a person becomes psychologically and sometimes physically dependent upon.
If you find that more often than not you are either in a trade, thinking about being in a trade, or even “itching” to be in a trade, you are probably addicted to trading the markets. If you find it difficult to remove
yourself from your computer after placing a trade or you are staying up until 3 in the morning watching every tick for or against your trade with frazzled nerves, you are probably addicted to trading.
The act of trading provides us with a certain rush or exhilaration which simply leads us to wanting more. Upon execution there is a buildup of mixed emotions, or simply, a neurochemical response that begs us to do it again, and again, etc. When this response interferes with sound analysis, proper planning, and every other desirable characteristic of a prudent trader, disaster can ensue. Regulation and moderation in this sense are vital and realizing that the only way to truly achieve your desired goal is by not listening to the emotional impulse to trade instantly.
If you are addicted to trading or could be, you must find a way out of this perilous situation. If you trade sensibly and prudently, that is fine, but make sure you monitor your activities and keep things under control. Whatever the case, get proper training and do it professionally. If you really want to gamble, it is probably better to do it in a real and official casino, but don’t expect to beat the house any more than you can rely on beating the market.