Who am I kidding? Spread betting is posh gambling

Hi

Turn the shame into action. No change comes without action. You can in some circumstances take a personal loan to develop your company but I am unsure of the rules so you will need to look it up. Investments and gambling are the same. It is repeating your behaviour and it is as you say chasing losses. I have thirty years experience with this and I can advise you this. Do not for a second think you can outsmart this illness. It is not possible. The only way to beat this is to change and to action that change. NLP and hypnosis worked on me but CBT, as they do here, will also work nicely. There are a few people who have gone the same path as you here during the years and they may respond to you here if they are still active otherwise talk to the counsellors, forums and others and they will help you. Last but not least this. You were put on this earth by a higher power for a very specific reason. To love and to learn. Do both. No early check-outs allowed. You know where I am going with this. For your family and your histories sake, you will honour them by rising from this a stronger person. The journey is empowering and you will want to pay it forward.

Best

C

Hi @a-lies have you confessed to your partner? You said about your wedding fund. The shame and self loathing is bad and we all feel it. Try and turn it into determination I'm day 8 gamble free today after gambling for 20 years worse last 2-3 years every day. It's hard but as the days are going on im getting a bit of grit and determination back and clarity in my brain that I haven't seen for a while. Own it and then accept all the help that you can

Posted by: A Lias

Hi,

I just joined and have had an online chat with GamCare so waiting next steps in counselling.

My story, only started 18 months ago, I started spread betting with a broker only one instrument which I had watched and invested in physically for a number of years, but found the leverage and tax free profits appealing so started to spread bet. 

Then the broker actually persuaded me to “trade” on the indices, well why not? More leverage, less margin. But that also meant bigger losses.

Anyway, in one calendar year I made over six figures, now in the space of 4 months I’ve lost that sum and more, to the extent that I’m “borrowing” my company’s money (I own my own company/sole director). I need to stop, I keep thinking about and chasing my losses. I can’t afford to do that.

I have to repay my company back, but I don’t know how? I’m so ashamed.

I also aimed to buy my house this year and thankfully that money is not accessible, but I’ve gone through my savings (which were to pay for my wedding) and then kept transferring ‘directors’ loans. Help!

Ive told my business account to see if they can put any stops in place, but it’s an online only bank so no facing up to my demons.

Spread betting is very dangerous I should know I’ve lost in access of £250 k in 15years and self excluded from every site imaginable 

getting help is the the first step 

good luck