Hi Andrew, My opinion about Forex trading in the video, and why people keep trading it?! because of the access to leverage and the hope of making a lot of money fast.
Anything more than enough is bad! If you are losing consistently, then maybe you need to take a break and find a way to improve yourself. There is no logic in trading unnecessarily.
Yes, it can. However, if you are on the verge of losing everything, it is better to stop trading or take a break. Trading is a risky endeavor. If you are new, you have to have a consistent source of money to sustain and trade. Addiction has never proved useful for anybody. Just try to control your emotions that ae forcing you to trade because it's only emotions that make us do illogical things.
Perhaps! It depends on you. If you can’t stop yourself from trading even when there isn’t any need then you are definitely addicted to it. Addiction doesn’t do any good but it only causes you exhaustion. Some traders devote a lot of time to trading and neither make money nor learn from trades. As a trader, you should keep track of everything and strategize accordingly.
Yes. Forex can be an addiction. I personally know someone who suffered a big loss in trading because of his obsession. There is a lot of risk associated with trading. Don’t trade to kill time or definitely not enter and exit trades because of impatience. Plan your trades and follow that plan.
I have had a friend who suffered a huge loss because of this trading addiction, he got indulged in revenge trading but the good news is now he has come a long way and doing pretty good.
It can be. If it costs you your health and you're incurring excessive losses because of it, then you need to take a break. Self control is really important. You shouldn’t trade because you want to but you should only trade when there's a probability that it is going to earn you money.
Anything done in excess is bad, and the same goes for forex trading. As a trader, you must know when to trade and how much to trade. You must only select potential trades and use smart strategies to achieve success.
Those who have opted for forex trading as a full-time job can’t consider it as an addiction. It’s a job for them. Addiction in trading would be running after profits, even in those trades, which have ‘losses’ written all over them.