This is the term I have made up after finding myself spending some hours, then entire days, and whole weeks obsessed with becoming more profitable every time. Don�t rush is mostly the advice I get. However, after using a �holy grail� that gave me some considerable gains, it’s been like I cannot stop. Gambling, gambling�I would like to hear some of your stories, if you have ever felt like this. Keep on trading!!
That�s exactly how I feel about Forex man.
Hilarious thread :D. Now that you talk about it, something very similar has happened to me on the last couple of days. In fact I started on this world because I was asked to investigate on my economics class at college. I’m going to be honest here, when I first started to read about it I hated FX’ world, just wanted to finish my investigation and close forex forever. However the more I read the more curious I was, I was like a child on a candy store. Now I even stop doing my paper work just to learn more or to do some demo trade. I consider myself a Forexholic!!!
Thanks for all your posts; I couldn’t have defined it better “like a kid on a candy store”. I would like to share with you something that came across. I was always intended to look for other ways of trading, commodities, futures, titles, and guess what, I am finally doing it with a platform called Core Options, I haven’t slept since yesterday planning my strategy because when you trade options you should forecast the markets few months earlier, and it’s indeed less risky. So for those who believe themselves as forexholics pls don’t hesitate on sharing stories, strategies, and any kind of information that happens to be helpful for us 24 h traders.
Jajaja, Forexholic!!! That�s not my case man but I know some people. Most of my friends don�t like forex but other ones are completely crazy. Forexholics are not only the people who spend all the time facing the screen, the ones who talks about it all the time are also! I�m really tired of a friend of mine, Michael, his nick in job is MickyFuc*forex. I suggest don�t be like him.
So forex addicts tell me, how have your trades gone lately. Have you becomed more addict to this business? I have hahahaha this week I spent like 20 hours of the day just trading, reading and developing my scalper strategy. Every day I’m just getting more absorbed by this.
Forex, because of many situations including easy leverage and trending pairs, is one of the greatest “carrots on a stick” you could put in front of we human donkeys !
any treatise on psychology will outline conditioning and reward stimulus in moving a human (or a rat for that matter, which dont say much about us !) forward and to do something !
Forex is close to gambling in the adrenulin rush we get when the market is moving like mad, and we want nothing more than to catch it and get ahead of it, which of course, sometimes works and sometimes it dont work !
in England, a large part of the trading world is handled by “bookies” (really) who are called “spread betters”, which is essentially what we (incorrect word here) “scalpers” do, although they pay NO taxes on their winnings ---- imagine the “rush” they must live with !
unfortunately, there are two sides to the story, and while the “drive” to learn and do can be extremely satisfying, providing a completely new career and lifestyle, it can also lead one to lose everything, and like the stereotypical gambler of song and fable, die miserable, bloody and broken.
keep the addicition healthy (and far from me to tell you when you pass from healthy trader to tradeaholic) and the world is your oyster, or at least shrimp and clams, but venture in the other direction, and the gutter and panhandling for dimes and quarters will be your future !
OK, getting off the soapbox, while i now spend only 12 hours or so trading, there was a point where i would wake for the exciting parts and then nap till the next exciting time, doing this 24 hours a day for weeks at a time, so far be it for me to judge or advise !
LOL – enjoy, and maintain reality
mp
You sound like a picture of me. I can find myself in front of the charts for days and I don�t even need to sleep. That�s sometimes, is like if start down it the more I will want to do it but if I stop for one or two days I don�t feel the need. What mp says is right, humans are driven by the risk-reward stimulus.
So where getting here some psychological theory, nice. I’ also getting to be addicted to forex, I’m getting to spend too much time on trading and reading. I almost have left things like going out to run a couple of miles to exercise or just read a good book just because I read and trade and if I didn’t have any family or responsibilities at all I’ll be sitting in front of my computer all day long. Happy Trading.
I wouldn’t say I’m addicted. But, I do spend most of my freetime studying Forex or reading about Forex or testing strategies.
The real danger would be if you are addicted because you are approaching it like an unskilled gambler and just getting a thrill out of throwing money in a trade, like putting money in slot maching and hoping to get a million for a few dollars. That would be a sure path to ruin.
Now a person being addicted to their work or business, while it can be unhealty, is at least productive if you are approaching forex like a business skill you need to learn and master…and run like a business, not like fun fun time at the casino.
I can see thrill seekers getting addicted though. Trades still make my heart beat and blood pressure go up when they with me and against me. But, I recognize it and try to remain analitical. I don’t want to learn forex for thrills, I want to learn it to make money and run it as a business.
I don’t think spending a lot of time on Forex is a bad thing if you want to be good at it. You can’t really be good at anything that takes skill if you half ass it and only ever do it as passing fancy. Martial arts, playing piano, playing guitar, being a surgeon, being a sports superstar… being great at all those things take a lot of practice and disipline, yet people fantasize about things like that, try it for a minute and give up when they find out the amount of time and self disipline it takes to get to the levels they dream about.
Often times people who aren’t dedicated to mastering something, don’t understand and will think you have an addiction or, “don’t have life.”
I’ve been accused of that with martial arts, bass playing and a number of other things. But, now I can do those things at a pro level.
I think forex is probably one of those things that if you are going to half ass it and do it as a hobby you are probably just wasting your time.