The elements of addiction and gambling are a consistent risk that traders must always be on the guard against.
- If you're feeling muscle tension,
- if you're feeling a slight background anxiety,
- if you're checking the price of Bitcoin and alt coins several times through the day,
- if you're thinking about trading while you're engaged in other activities
...then you could be edging into the dangerous area of trading outside of your trading plan of trading impulsively.
And I must say that I'm as guilty of the risk to trade compulsively in these markets as anyone and so it's something I have to constantly guard against. The emotions you feel while you are trading are much more important than many people acknowledge.
The negative emotions created by the addiction style compulsive need to watch the markets can begin to affect all relationships in all areas of your life - and even your health - so you have to reflect on what's the main reason that you got into trading Cryptos in the first place.
For many, it's for Financial Freedom and financial freedom is for time freedom and security and all those things.
I want to have my crypto money work for me, I don't want to spend my time working for my cryptos.
So. if I'm trading in such a way that it takes away from these reasons, then I am feeling stress.
And so what's the solution?
The solution always is to change your thinking. To review your long term goals in all aspects of your life and then find a way to participate in the crypto currency trading that is going to open up more space for joy in your life - rather than causing muscle tension, background anxiety, constantly looking and thinking about the market's of stress when you can't be there to make decisions on the market and it may get away without you.
So there has to be a way to participate in crypto trading that opens up more space for joy and success in your life.
And if it's not doing those things and if it doesn't feel good, you have to review it.
It may require smaller trading positions, it certainly would require that you eliminate margin trading and eliminate leverage trading. And then refocus and diversify your time in the many aspects of crypto trading and investing rather than just watching the charts to see when the prices are going to take off into the next pump.
- When you begin to feel relief you are on the right track,
- when you begin to feel good you're on the right track,
- when you're spending less time managing your crypto trades (your crypto trades are working for you rather than you working for the)
- when you find yourself joyfully participating in other activities and you never even thought about your alt coins then you're on the right track
There is a time to work hard and put the hours into studying everything you can about Cryptos... to make your spreadsheets and to make your trading plans... but then there's a time to stop thinking about it and to enjoy the aspects of life that success and Cryptos can bring.
So I wanted to do this video and post to talk about some of the signs of addiction in Crypto trading because indeed the last while as I've been watching the markets I'm spending way too much time at it, it is causing stress in other areas of my life... and it's time for me to make some changes in the way I'm trading my accounts that takes less of me to manage it so that I can focus on more joyful activities.
I'd like to hear your comments and thoughts about Crypto trading addiction.
I think this is something that everybody has the risk of falling into and if you've experienced this I'd like to hear your story as well.
Thanks again for watching and I look forward to reading your comments down below.