Before we get into the topic of destructive trading, allow me to explain how psychologists assess whether or not a person has a problem with alcohol consumption. Here are ten questions that a professional might ask in order to assess any kind of substance use disorder, including alcohol abuse:
Have you found that your drinking is bringing unwanted, negative consequences?
Have you recently felt guilty over the way you have been drinking?
Do you find you need to drink more just to get the good feeling?
Do you find that your personality changes when you drink excessively?
Do you find it difficult to take a break from drinking, even when part of you knows that this would be best for you?
Do you find yourself drinking to feel good about yourself?
Do you sometimes feel that you cannot control how much you drink?
Do you find yourself getting angry when someone close to you questions your drinking?
Do you find yourself vowing to limit your drinking, only to slip back into overdrinking?
Do you find it difficult to not drink given the opportunity, even when the occasion is not really appropriate?
Now for the topic of destructive trading: Please answer the above questions, but substitute the word “trading” for “drinking”, and substitute the word “trade” for “drink”.
Fear and greed are potent influences on trading, but the greatest trading problems, I find, are addictive in nature. Successful traders really want to trade; they have a passion for trading. Addictive traders need to trade; they have a passion for action and excitement. An addictive trader will not manage his risk. That is because risk is part of the high. An addictive trader will not stop trading, even when losing money. That is because action, not profit, is the goal.
An addictive trader will cycle between periods of guilt and responsibility and periods of excess and irresponsibility. Good traders trade actively. Addictive traders overtrade. If you see yourself in this profile, do the right thing, before your patterns ruin your career and harm those who depend on you. Get help. You can change. Your trading and your happiness lie in the balance.
By Brett N. Steenbarger, Ph.D.
I wish you best… Suresh
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Thanks a lot. It is a very useful analysis of addiction in trading leading to a continuous loss. Hope all readers of this article will be able to control their trading addiction and stop making regular loses,
I have overcome this childish behavior.
Now, I have control over my emotions.
(I still remembered How I used to Jump in Every trade when I started Trading Few years Back)
Yes, Once I get the First profitable trade of the day it psychologically Boost my confidence & most of Trades Goes Right.
No, I don’t find it difficult now.
Yes, Using My skills I can make money.
Sometimes Yes.
Sometimes No.
( Few Days Back I shorted one lot NIFTY future at 10402 with a tight Stop-loss of Rs.5/- and I closed my laptop.
After few hours Opened my Laptop and Saw NIFTY future is Trading at 10310 I was in Good Profit and I closed the trade.
After Looking at profit Again I shorted NIFTY future at 10357 with Tight Stop-loss of Rs.10/- again It dropped And Made Low of 10292-10293 (not remembered exact Number) Again I closed this trade in Profit.
After this 2 Profitable Trade I bought PCJEWELLER at 333 (100) quantity and from 333 it jumped to 352 in Just few Minutes.
This trade also closed in Profit.
No, not at all.
Hahahahaha, I only over trade If am Booking Profit I never continue Loss making Trades.
I accept the loss and Exit as soon as possible not ever tried to go against Market.
