Overcoming gambling addiction

Trading is often about how to take the appropriate risk without exposing yourself to very human flaws.
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Derek27
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marketraisen wrote:
Sun Nov 04, 2018 5:35 am
If youre losing on football but winning on racing, throwing in the towel completely would leave you better off than doing both but you'd be better off again if you just stopped wasting money on the football and concentrated on the racing.
But if I'm unable to stop myself from throwing away money on football, I'd be better off throwing in the towel and not betting at all.

People who struggle to green-up when trades go against them and let trades go in-play and take big risks have problems that can be overcome. I don't mean to sound harsh, but if I was unable to stop myself from impulsive betting on any sport without any reasoning, that would be a full stop to my trading career.
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wearthefoxhat
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Just one point on the "spewy" bet. If it's small in relation to a bigger win, then it can serve a purpose.

If you just achieved +£1000 on automation/system-method, a £20 spewy bet can be served as a form of celebration of the recent win. I would probably try and make it worthwhile, eg: £20 acca on an outcome on 6 events. In that way, whatever the result (probably a loss), it can serve as another potential big win, or as long as some thought has gone into the bet, an understanding of how the bet lost.

Even chucking £20 at a lottery rollover could be satisfying, you know the likely outcome, but you never know...(that's not me by the way) ;)

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marketraisen
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Derek27 wrote:
Sun Nov 04, 2018 7:18 am
IS GAMBLING A LEISURE ACTIVITY OR A SERIOUS QUEST TO MAKE MONEY?

If it's a leisure activity then you don't need help - just enjoy it as you're earning enough money to afford it.
Somebody else used this train of thought earlier, just because Im not planning on going full time with betting it doesnt mean I shouldnt try to get better at it or not care about losing money.

I played right back for my old college for 3 years, I never thought I was going to be a professional footballer but I still turned up for training every week and hated losing matches.

Not every golfer is trying to win the masters, you better believe theyre trying to be better golfers though, its all some of them think about.
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Derek27
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marketraisen wrote:
Sun Nov 04, 2018 5:45 pm
Derek27 wrote:
Sun Nov 04, 2018 7:18 am
IS GAMBLING A LEISURE ACTIVITY OR A SERIOUS QUEST TO MAKE MONEY?

If it's a leisure activity then you don't need help - just enjoy it as you're earning enough money to afford it.
Somebody else used this train of thought earlier, just because Im not planning on going full time with betting it doesnt mean I shouldnt try to get better at it or not care about losing money.

I played right back for my old college for 3 years, I never thought I was going to be a professional footballer but I still turned up for training every week and hated losing matches.

Not every golfer is trying to win the masters, you better believe theyre trying to be better golfers though, its all some of them think about.
That wasn't a train of thought - it was a question which you haven't answered. You're asking for help but you won't even be clear about what you're trying to achieve!
marketraisen wrote:
Sat Nov 03, 2018 11:23 pm
...whats the point of working hard to find an edge and win on the only platform that hasnt banned me, just to waste the profits on bets I've no +ve expectation of winning from. Theres other fun things to do with spare money.
How you spend, or waste, money earned or won trading has nothing to do with trading. But to answer your question, what's the point in making money just to waste it? - whether you realise it or not, by making money you have put yourself in a position to spend it however you choose, so there's absolutely nothing wrong at that stage. The question you should be asking is, how do you stop blowing it on bad bets with no +ve?
spreadbetting
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marketraisen wrote:
Sun Nov 04, 2018 5:45 pm


Somebody else used this train of thought earlier, just because Im not planning on going full time with betting it doesnt mean I shouldnt try to get better at it or not care about losing money.

I played right back for my old college for 3 years, I never thought I was going to be a professional footballer but I still turned up for training every week and hated losing matches.

Not every golfer is trying to win the masters, you better believe theyre trying to be better golfers though, its all some of them think about.
But I'd guess you were playing football/golf as a hobby and getting enjoyment from it, to win at gambling you really need to nullify that adrenaline kick you get from wins/losses as much as possible. You could obviously say you'll replace that rush by looking at a healthy winning balance but if that doesnt make any real difference to your income it won't be long before you revert back to getting your kicks from gambling.

At the end of the day your winnings are coming from your automation so if you're serious about it , it shouldn't be too hard for you to leave the betting going on in the background whilst you find another hobby to spend the winnings on. If you still cant stop yourself gambling then this forum probably isn't the place to be asking for help.
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ShaunWhite
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If you have a gambling problem the last thing you should be doing is trading. All trading is gambling, but not all gambling is trading.

Btw that chart, doesn't help your mindset that both lines go up. Chart the gambles and trades separately. Better still quit trading (aka gambling) until you've managed to kick the wreckless gambling. You're trying to quit being an alcoholic by cutting out whiskey while still drinking wine.

Prob a waste of time typing that cos you'll have an aversion to anything I say because I pissed you off earlier.
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Derek27
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ShaunWhite wrote:
Sun Nov 04, 2018 7:48 pm
Btw that chart, doesn't help your mindset that both lines go up.
I may understand the OP incorrectly, but I think the reason both lines go up is because, as he said earlier, he topped up his balance, so it may not be profits but balance.

He must be keeping a good few aircraft hangers warm though. ;)
marketraisen
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ShaunWhite wrote:
Sun Nov 04, 2018 7:48 pm
Btw that chart, doesn't help your mindset that both lines go up.
It helps my mindset to clearly see a difference between what I could have had and what I actually have.

Charts not pointing out differences between sets of data are meaningless.
marketraisen
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Derek27 wrote:
Sun Nov 04, 2018 8:01 pm
I may understand the OP incorrectly
Some sharp minds around these parts.
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Derek27
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marketraisen wrote:
Mon Nov 05, 2018 12:54 am
ShaunWhite wrote:
Sun Nov 04, 2018 7:48 pm
Btw that chart, doesn't help your mindset that both lines go up.
It helps my mindset to clearly see a difference between what I could have had and what I actually have.

Charts not pointing out differences between sets of data are meaningless.
Every day I could make ten times as much as what I've actually made if I did things differently - the problem is, if I did those things differently the next day I might lose ten times as much!

It's completely meaningless to look at what you could have made unless there's a realistic chance of actually making it!

It's easy to look back in hindsight and see what you could have made, but if you're serious about gambling you'd realise that it doesn't work like that - unfortunately, you can't back horses after you've seen what you could have made!!
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Derek27
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marketraisen wrote:
Mon Nov 05, 2018 12:55 am
Derek27 wrote:
Sun Nov 04, 2018 8:01 pm
I may understand the OP incorrectly
Some sharp minds around these parts.
Last night I spent a lot of time trying to help you. Whether or not you find my posts helpful is irrelevant. The fact of the matter is that you've asked for help, I've tried to help, and so have many others.

I've tried to establish whether your losses gambling is part of your trading or whether it's just leisure activity, it would have been polite to respond, even if you don't know yourself!

I've tried to establish whether the meaningless charts you keep posting are P/L charts or charts that include deposited money, and all you can do is post sarcastic remarks!

If I don't understand you correctly, you can hardly blame me for that - you're asking for help, yet at the same time you're extremely evasive and reluctant to engage, but just want to post charts of what you think is progress, and criticise anyone who disagrees with you.

My initial advice on this thread was to seek help from a gambling counsellor, and that hasn't changed. As spreadbetting suggested, a trading forum isn't the best place to get advice on how to stop impulsive and uncontrollable betting, as we generally give advice on how to trade successfully.

If you want to overcome your gambling problem regarding betting on things with no +ve, you've got two options: either do it on your own without help, or engage with somebody who you trust can help you. Asking for help but dismissing any advice you don't like, or preferring to look at charts simply because the graph goes up, is futile.

I genuinely wish you the best, whatever you decide to do.
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ShaunWhite
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marketraisen wrote:
Mon Nov 05, 2018 12:54 am
Charts not pointing out differences between sets of data are meaningless.
I bet you're popular at work, turning up and telling every other trade what they're doing wrong. :roll:
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Derek27
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marketraisen wrote:
Sun Nov 04, 2018 5:27 am
If any of the original folk who replied during racing hours on that day want to step forward they'll have their apology...
Don't worry, I'm not asking for an apology but I just thought I'd point out that I replied to your post at 1:48pm!

The regulars on this forum will be shocked, and even I'm surprised that I was up that early, so I must have replied to your request for help the moment I logged on. In effect, I prioritised helping you over starting trading!

Whether it actually cost me any money is entirely irrelevant. Shaun was making the point that we all put in the effort to help you. Just because he mentioned that Saturday is the biggest payday for most traders doesn't mean it's cost anyone any money - you just need to appreciate the time and effort that's gone into this thread, rather than posting sarcastic remarks because I don't appear to understand your situation!
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jimibt
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this is a classic thread.... from reading between the lines, it would appear that what started as a cry for help has been subverted into some sort of coverup for reasons known only to the OP... (tho the cynical side of me wonders why such a deep thread was started by the OP literally within 45 mins of joining the forum) :shock:
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LeTiss
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Bit surprised to see this has become an 11 page thread!

There are crossovers between betting and trading. If the definition between the two remains blurred, you'll always be fighting your demons I'm afraid.

This is simply because of the stakes involved with trading

Example
Let's say you have set your hopes on winning £10 from a forthcoming race, and the selection is trading at 6.00

Back at 6.00 = £2 Liability
Lay at 6.00 = £50 Liability
Back to Lay (1 Tick) = £600 Liability
Lay to Back (1 Tick) = £1550 Liability

The sums used to make successful trades are way beyond being a normal punter - if you have an aversion to losses in trading, and start letting bad trades run or go IP, then you are teetering on the edge of disaster
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