Hi Johnny

Well done on recognising that you have a problem and on reaching out for help. I’m afraid I know very little about trading but I guess gambling is gambling and the urge to go back for more is similar .

I think barriers on your internet devices would give you a little freedom Johnny . I think gambling blockers also work for trading. I use gamban but you could do some research and find which most suits your needs.

Could you put that 50k into an account which you cannot access without perhaps a months notice ? They would take away the automatic gambling where we don’t stop to think. If out could think of the 80k as a loss on an investment – it could have been a business or a house – in your case it happened to be the stock market, perhaps this would make it easier to let the loss go. The idea of winning back losses has brought many a gambler to rock bottom.

I hope some of this helps – there are others on here who are more familiar with trading and I’m sure they will be glad to give you advice.

Perhaps you could speak to someone on the online help or join one of the groups for lore support.

The important thing to remember is that everyone can stop gambling. Hope to read another post from you soon .

great you have recognized this at this stage.
because if you continue the next will be to lose the 50K, then to borrow and continue losing, until you reach a stage where you can’t borrow more, and at that stage you will realize that your problem is not a financial problem it is an addiction.
I am glad you have realized it at this stage.

firstly,
addiction to day trading is a gambling like behavior, I have an addiction to forex trading. so i really know what you are going through.
but i didn’t realize it until it is too late.
28 you still young, it is better than reaching your mid-thirties and your Net worth is in negative because of this addiction. so don’t look back you have lost enough and you can’t get it back if you continue, if you continue you will lose more money, and more years from your life will be wasted to this addiction.

secondly ,
Are you a gambling addict? you may say to yourself : I have lost money in trading? this doesn’t mean that I am gambling addict.
the fact is addiction to day trading is a gambling like behavior, there is some people who can bet and they can stop and control them self, and there is the gamblers who will get hooked in this process and they can’t stop ( and i am one of them). it is safe to assume that you are an addict at least at this stage.
you can go to the gambling online tests and replace the word “gambling” with “day trading”. and see the result.

thirdly, what i have to do,
1: mainly if you are drug addict you should not have an access the drug. the drug in our case is money you should keep this extra money away from you, give the control to a family member, so you will ensure this money is protected from your gambling impulses. The temptation will be less since you will not have access to the extra money.

2: if you are trading online block all trading websites, close all your trading accounts. there is a lot of web site blockers install one and add all the related websites.

3: be open about it to your family don’t hide it, you need support to fight this addiction.

Hope you all the best

Hello and thanks for starting a thread in the Gambling Therapy forums

Here at Gambling Therapy we pride ourselves on being a caring and diverse online community who can help and support you with the difficulties you’re currently facing. We understand that this might be a tough time for you, particularly if you’re new to recovery, so come here as often as you need to and participate in the forums, access online groups and connect to the live advice helpline if you need one to one support. We’re in this together!

Here on the forum you can share your experiences in a safe, supportive and accepting environment. The beauty of writing it all down is that you can take your time and you will be creating a record of your progress that you can look back on if it ever feels like you’re not moving forward. So, share as much or as little as you like but do try to stick to keeping just one thread in this forum so people know where to find you if they want to be updated on your progress or share something with you.

As well as the forums New Members are invited to join Charles in the New Members Practical Advice Group On Mondays at 21:00 (UK) and Thursday at 19:00(UK)

And on that note….

I’m going to hand you over to our community because I’m sure they will have some words of wisdom for you 🙂

Take care

The Gambling Therapy Team

PS: Let me just remind you to take a look at our privacy policy and terms and conditions so you know how it all works!