Day trading isn't advertised as gambling, it's advertised as something you can use to make money. Many people in the internet talk about how they're making money with daytrading. But for me it's the complete opposite, I've lost lots of money and find myself in Hugh debt from day trading. I've tried to quit, but I remember the one time I made money , or I get bored or watch something on YouTube and then find myself trying again. Now I really want to stop, it's driven me to the ground financially. I've cut all my cards in an attempt to stop. I'm pulling my hair over this, it's taking over my life. I spend hours in the screen , think about it when I'm not. I need some help. Anyone been here or have any tips for me ? Thanks
First tip - change your user name to Ex Day trader ?
Logically speaking : anything that is widely disseminated to the masses as a "way to make money " definitely isn't a way to make money
Because only a tiny fraction of the market can ever be winners
This includes crypto , day trading , forex , MLM schemes , and all the various Ponzi scheme models out there
All of these schemes generally rely on the theory of the greater fool
I’ve had the same problem. Started small trading aim market and ended up taking huge leveraged trades on forex to win back what I lost.
Not saying I have the answers as still early days, but I felt trapped because I hadn’t told anyone the trouble and debt I was in. Finally came clean to my wife and that has helped. Trying to explain my actions were very difficult and looking back showed how crazy my decisions were.
Maybe speak with someone close to you that you trust. Very difficult to begin with but helps. When you hear the actions you’ve taken out loud, it will highlight how crazy what you’ve done is. Hopefully this will kick start recovery with honesty and support.
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