The idea that people who lose all their money gambling don't get suicidal doesn't fly. Also, suicide So some guy at 20 who decides to go into dentistry is genetically programmed for suicide, and is subconsciously choosing a career that has a high suicide rate? Suicide is all based on genetics? Who taught you this?
Depression is a mental condition which has very little to do with reality or external conditions. But sometimes an external event can push a depressed person over the edge. Like an unexpected (is there any other kind?) large loss of OPM or enough that it is going to really affect the lifestyle that you have identified yourself with.
In depression trader can not trade well. I think in extreme emotional conditions our thinking is not realistic. We can make financial suicide trading in these situation. As people not decide good for their life in depressions.
Ironically, seeing the headline of his rampage in Time Magazine back when I was in high school initially sparked my curiosity to investigate what Day Trading was all about.
It prompt me to research the psychological or mental state of people prior to them having a career as a retail trader or professional trader working at a financial institution...money and the stress involves with managing money really does have an impact on the mind. That guy could have easily just been a postal worker with financial problems...he probably would have shown up for work one day and gone "postal" (kill fellow employees). https://en.wikipedia.org/wiki/List_of_postal_killings Professional financial institutions give their employees psychological evaluation tests prior to employment. Many have health plans that encourage employees to get psychological help whenever need....some even have their on in house psychologists. Retail traders, prop firms do not have such or don't have something in place for them to have someone that's not bias to encourage them to get help and ensure they do get help when it becomes obvious that the stress involved in trading has pushed them over the edge even though any other financial situation would have most likely done the same. Its more than just about murders or mass shootings. Its about what drives a person rob a bank, embezzlement, someone making 10 million a year playing sports and strongly feels they are not being paid enough, someone that enslaves others and then robs the resources from that person community or country (e.g. diamonds)... Money or wealth can be ugly...it even has started wars. It can also be good and even in situations of good...their will be a minority that feels they weren't included.
Who in that thread stated they attempted suicide because the OP (thread starter - Mingary) seems like someone interested in doing some kind'uv research ??? Simply, which person in that thread that "did not get out alive" or which article link that was posted in that thread ??? wrbtrader
On a positive note no matter how bad you feel you CAN feel better even if you don’t think it’s possible at the time. If anyone out there is feeling depressed or worse then dont be afraid to seek help and tell others, there is no shame in it. Changing your lifestyle, diet and exercise along with medical therapies will help.
Changing your lifestyle, diet and exercise along with medical therapies will help. Changing careers will help too because trading is not suitable for everyone...financially nor psychologically. Too many retail traders (most) get involved with trading as a way to solve their financial problems and when that doesn't work out...its just too stressful too manage and possibly worst. As stated earlier in this thread or another thread, the issue is the stress management...still an issue if someone is profitable. The naive believe that if I'm profitable...the stress will go away. Profitability is just a "band-aid" on top of the real problem...traders not suitable for trading. I once stated here at the forum about which careers had the highest rate of suicide in comparison to careers as a retail trader: 1: Fishermen, farmers, lumberjacks, workers in agriculture or forestry: 85 out of 100,000. 2: Builders, carpenters, miners, electricians: 53. 3: Mechanics, maintenance workers, repairers, installers: 48. 4: Production and factory workers: 35. 5: Architects and engineers: 32 6: Firefighters, police, corrections workers, others in protective services: 31. 7: Artists, designers, entertainers, athletes, media: 24. 8: Computer programmers, mathematicians, statisticians: 23. 9: Transportation workers: 22 10: Corporate executives and managers, advertising and public relations: 20 11: Workers in the legal system: 19 12: Doctors, dentists, health care professionals: 19 13: Scientists and lab technicians: Unfortunately, retail trading is not a specific group. Instead, most research list "Financial Institutions" and the above groups are typically listed above (with higher rates of suicide) than financial institutions. As stated before, other professional careers have "help in place" to identify an employee in trouble, paid professional help for an employee in trouble, paid vacation, leave of absence and so on...many insurance policies cover depression/medication and so on. Retail traders do not have the above...they are completely on their own which is why I strongly believe that if "financial institutions" are broken down into sub-groups...retail traders suicide rate would equal the rate in the overall group or be higher do to the fact that retail traders are more on their own to deal with the problem of depression & stress & pschological issues that arises from the stress of being a trader. That's why I put emphasis on insurance (health/medical/dental) for retail traders. If you can't afford it...trading is the wrong career for you. Simply, trading is not for everyone...even those that are successful commit suicide...that's the negative aspect of money. Money is the root of many issues in society today & past & future. wrbtrader P.S. On a positive note...happy Father's Day to all the fathers here at ET. My kids went down the street to Tim Hortons to get donuts for me. Unfortunately I'm not a donut person. Thus, gotta pretend I like the donuts.