Altcoins Talks - Cryptocurrency Forum
Learning & News => News related to Crypto => Topic started by: ABCbits on September 24, 2024, 12:14:24 PM
-
Crypto Trading May Cause Lower Quality Of Life And Higher Stress
A new study (https://pubmed.ncbi.nlm.nih.gov/39290060/) published in the Journal of Mental Health Policy and Economics has found that academics who trade cryptocurrency report lower quality of life, worse sleep, and higher stress levels compared to their non-trading peers. They scored lower on quality of life assessments, experienced poorer sleep quality, and had higher perceived stress levels compared to their colleagues who don't trade crypto... Read more here (https://www.forbes.com/sites/digital-assets/2024/09/23/crypto-trading-may-cause-lower-quality-of-life-and-higher-stress/).
I think many of the impact also applies to trading in general. But i certainly disagree that cryptocurrency trading share trait with gambling, unless the trader choose new or meme coins. Your opinion is greatly appreciated.
-
I think many of the impact also applies to trading in general. But i certainly disagree that cryptocurrency trading share trait with gambling, unless the trader choose new or meme coins. Your opinion is greatly appreciated.
Everything that can bring unexpected results samples stress to a certain extent, especially things that directly affect finances. In addition to the fact that various things affect the outcome, trading has the characteristics of gambling because it is about prediction. Even if it is a long-term or just an ordinary holding, a negative movement will affect the increase in stress.
(https://talkimg.com/images/2024/09/24/g1NJ5.jpeg)
-
^ Exactly the image that I had in mind while reading the OP ;D
It doesn't even need a study to figure out that most active traders are losing in the game. Losing sleep is also not surprising because, unlike stocks that has opening and closing times, crypto market is moving 24/7. There are also traders that do not even use stop-loss features.
-
Even an ordinary job where the worker is exposed to pressure, various types of mobbing and the feeling that someone is exploiting him can lead to all the already mentioned problems. I personally think that this is a much bigger problem than the fact that some people trade in cryptocurrencies, especially if we know that the percentage of those who actively trade in cryptocurrencies is very small compared to those who trade in stocks or ETFs, not to mention those who gamble.
However, there are solutions for academics - let them stop trading with cryptocurrencies and they will no longer be under stress :)
-
Some people are successful in trading, like 5 to 10% of traders. The remaining 90 to 95% of traders are losing. Most successful traders are likely to be swing traders. Swing trading is similar to holding in short term. But day trading is not. Day trading will take more time and it is very stressful. The stress is not only the down side, it is also taking money as the traders are losing.
-
I think many of the impact also applies to trading in general. But i certainly disagree that cryptocurrency trading share trait with gambling, unless the trader choose new or meme coins. Your opinion is greatly appreciated.
I've personally experienced the stress of entering the crypto market during its early days, and even now, despite employing a DCA strategy instead of all-in, stress can still surface. When we're swayed by greed and fear, tranquility becomes elusive. The crypto market's inherent volatility provides a fertile ground for cultivating these emotions in investors.
To mitigate the negative psychological impacts, disciplined capital management is paramount. We must avoid transforming crypto trading into a gamble based on chance. Our ultimate goal is to generate profits and improve our quality of life, not to introduce additional stress that can harm our health and family well-being ^^
-
It definitely does cause a lot of higher stress there is no doubt about at all, but at the same time I think its also true that its not really lowering quality of life, depends on how your results look at least. We are aware that we are seeing something that depends on the persons income. I personally do feel fine, the stress I have is a lot, and I do wish to have less stress but not like anything else would be less stressful, like stocks or bonds or gold or whatever else, but here I feel fine in my quality of life because I feel like without crypto I would have a life that would be much worse so I am quite happy about it.
-
I believe there is stress in anything that is risky, and by and large any kind of trading is risky, so it will surely increase your stress level. I.e. people who gamble, they are also going to experience a higher stress level, just the hope and wait to find out if you were lucky to get it right can affect your sleep, so i don't think it is only about crypto trading, but anything risky.
-
I believe there is stress in anything that is risky, and by and large any kind of trading is risky, so it will surely increase your stress level. I.e. people who gamble, they are also going to experience a higher stress level, just the hope and wait to find out if you were lucky to get it right can affect your sleep, so i don't think it is only about crypto trading, but anything risky.
The stress of traders is different from the stress associated with the risk in trading. When I was in high school, I had a friend who trades Forex, makes cool money but doesn't look fresh or fleshy. It's not because he doesn't eat good food or any related such things. It is the stress of sleepless night and being always in the computer and stressing the brain.
He's up in midnight trading while other students will be reading. I think he was over stressing himself for what is supposed to be a passive way of earning.
-
academics who trade cryptocurrency report lower quality of life, worse sleep, and higher stress levels compared to their non-trading peers.
life is stressful i could find other studies where they say that a specific job is also stressful i don’t think trading is stressful in such a concerning way and such a health hazard of course it would be stressful we’re dealing with money and also with time which is probably why they report poor sleep quality
but like i said life is stressful anyway i’d rather get stressed over trading while making money than being stressed over not having any money ;)
But i certainly disagree that cryptocurrency trading share trait with gambling, unless the trader choose new or meme coins. Your opinion is greatly appreciated.
i don’t think trading has the element of fun that gambling has that makes it addicting per se plus gambling is more associated to unhealthy habits like drinking and smoking while in trading you really can’t and shouldn’t do any of those because it might affect your trading ability
-
Well, most of over work job and jobs in corpo world will do the same, for trading it's when you usually lost, but i guess the more you trade, the more you lost especially in day trading.
-
When I was working in a corporate world, I feel the stress like everyday, however, I wouldn't compare that stress from crypto trading or gambling per se. I mean when you work it will always be there, you wake up, you go to the same shit all over again. Unlike in crypto trading, there will be times that you are going to make huge profits, so I don't think that there will be stress there.
If you lose, then yeah, maybe some sleepless night, but for sure the next day, you will find yourself trying to make another run for it, and this time you could be very well in the mood to make money again.
So for those who have read this report, I would say that we should just ignore this data. Just look at the people on the street, they still survived.
-
I think many of the impact also applies to trading in general. But I certainly disagree that cryptocurrency trading share trait with gambling, unless the trader choose new or meme coins.
Even without that study, I am already sure that trading can be stressful and should not be suitable for all people. Yes, generally speaking and not just with trading with cryptocurrency as trading can really be a pursuit involving a higher level of mental health. Trading is not a manual job but more involving the brain. Now, I would even say that successful people are more stressed than those who are not...just like saying that the rich are more stressed than the poor. What I don't understand is why specifically look for those who are involved with trading in crypto...and why not those who are trading be they forex, stocks or anything else as they can be sharing same traits and can be facing same everyday challenges.
-
Some crypto traders may feel stressed because of the volatility of crypto. They need to come in and get out at the right moment, especially if they want to earn more or have put in a big amount. I agree that some crypto traders can share similar traits with gamblers. They may put in more to make up for what they have lost in the past, and always hoping to hit the big time even if it means spending more than what they can afford.
It must be noted that the respondents from the study are a small sample of academics from Turkey, which means it may not be applicable to all crypto traders.
-
Well, most of over work job and jobs in corpo world will do the same, for trading it's when you usually lost, but i guess the more you trade, the more you lost especially in day trading.
Yep, it's essential to have a stable source of income to not to fall into that pit yourself, in my opinion.
Trading is an activity that can be many things for a person, and some can't handle the management and risks attached to it. It's a long road toward the end goal, which everybody has and it's different for each one of us.
-
I believe there is stress in anything that is risky, and by and large any kind of trading is risky, so it will surely increase your stress level. I.e. people who gamble, they are also going to experience a higher stress level, just the hope and wait to find out if you were lucky to get it right can affect your sleep, so i don't think it is only about crypto trading, but anything risky.
That's great point, especially since the news state they compared stress among cryptocurrency traders and non-traders.
So for those who have read this report, I would say that we should just ignore this data. Just look at the people on the street, they still survived.
I don't get your point. While people on street survive, should we ignore their street amount or quality of life?
-
The stress of traders is different from the stress associated with the risk in trading.
What is the difference? Traders are mostly stressed out because they are trying to make money from trading, they know it is risky and they can also lose a lot of money, that is enough to increase a person's stress level. They worry about profit, managing losses, signals, etc, all of that is cumulative of the 'risks' involved in trading, if it was not risky, they'll feel no stress.
-
I realize that, I see the flexibility of time offered for the trader profession actually makes many people, especially those who still do not understand optimal working hours, trade overtime... they do deeper analysis so that the brain is forced to work harder than workers in general, they also spend more time than workers in general, so that it affects their rest time... this condition may be very common for new traders, because they still need high flying hours to be able to reach a professional level...
In addition, this also depends on the character of each individual... people who are too diligent and worried about failure may continue to try even though they have to be stressed or depressed... it's all for the sake of ambition... while lazy people tend to only learn with minimal effort.
-
Crypto Trading May Cause Lower Quality Of Life And Higher StressSeriously tho this happen to me a year ago when I'm still active on futures market and stress cant sleep and lot of thing happen including mood swing aswell. Tho now I'm prefer doing spot trade that don't have leverage so its kinda safe for me.
Second in the past 4 days i tried futures again but this time I only trade when I woke up and close before I sleep no matter how much profit do I have Im gonna close it in the end of the day, and little bit advice just put your daily target mine is 10 USD is very small but is much here in Indonesia after I reached the target I don't open the trade.
-
Clearly these studies are bias and incomplete!!
For starters trading crypto is as good as trading any other asset other like Nasdaq, EU, gold,silver you name it, and crypto being a new asset just invalidates these findings because what are the studies showing about these other assets that have existed before it ??
As far as I know trading is the same, so if trading crypto causes stress then all traders can be declared to be stressed too!!
-
I think many of the impact also applies to trading in general. But i certainly disagree that cryptocurrency trading share trait with gambling, unless the trader choose new or meme coins. Your opinion is greatly appreciated.
Any attempt to better your life is a risk, and although you may face the experience of a lower quality of life and higher stress, it is just temporary. If you choose the easy part of not trying to learn something new, or undergoing the stress of learning just so you can remain comfortable, you may later land yourself in a situation later in life where the quality of your life will be low almost without any remedy again and you will be undergoing a lot of stress from life and maybe from others around you that expected more or should be depending on you.
If you're undergoing stress from trying to learn how to trade, just give it time because trading takes time to learn, and if you've noticed that you're having difficulties learning these things on your own, it is also advisable that you seek a mentor to help you out and guide you through the process so that you can stay encouraged.
-
I disagree with the academics, and obviously everything we do on the Earth without getting the desired results can cause stress and low quality of life, this is not peculiar with trading cryptocurrency alone.
Many activities we engaged ourselves without getting it right brings low quality of of life or higher stress especially when it comes to doing business or one trying to acquiring wealth through special skills acquisition, businesses, sports etc
For instance, a person learning how to trade, acquire certain skills that involve financial gains/losses will face higher stress and low quality of life.
-
In other news; water is wet.
I disagree with the academics, and obviously everything we do on the Earth without getting the desired results can cause stress and low quality of life, this is not peculiar with trading cryptocurrency alone.
But it's true. You have all these people staring at their computer screens trying to make money from nothing. Of course that is going to stress them out if they can't do it and particularly if they lose money in the process. Most hobbies do not involve putting money on the line to lose, unless gambling is one of your pastimes.
-
I disagree with the academics, and obviously everything we do on the Earth without getting the desired results can cause stress and low quality of life, this is not peculiar with trading cryptocurrency alone.
Many activities we engaged ourselves without getting it right brings low quality of of life or higher stress especially when it comes to doing business or one trying to acquiring wealth through special skills acquisition, businesses, sports etc
For instance, a person learning how to trade, acquire certain skills that involve financial gains/losses will face higher stress and low quality of life.
especially if they are losing money instead. it affects every aspect of a man who about to break while he is paying his bills all his money is also at risk especially that bear market comes very unexpected for a trader to be.
low quality of life is when everyday the traders will start worrying and finding a new job and worry about what to eat the next day. it worse if he has a family to feed. they'd be homeless in months.
-
I disagree with the academics, and obviously everything we do on the Earth without getting the desired results can cause stress and low quality of life, this is not peculiar with trading cryptocurrency alone.
Many activities we engaged ourselves without getting it right brings low quality of of life or higher stress especially when it comes to doing business or one trying to acquiring wealth through special skills acquisition, businesses, sports etc
For instance, a person learning how to trade, acquire certain skills that involve financial gains/losses will face higher stress and low quality of life.
Yeah, makes us wonder why they single out crypto trading as the main source of stress, LOL. But it doesn't matter, I mean, we really know the numbers. Perhaps there could be some crypto traders that are stress because they are losing money.
Nevertheless, everything is life is stressful, stock trading, even those billionaire right now, at some point where they are acquiring their wealth, has undergone the stress. The thing is that it's how we handle this stress in order to be a successful crypto trader.
-
Some people are successful in trading, like 5 to 10% of traders. The remaining 90 to 95% of traders are losing. Most successful traders are likely to be swing traders. Swing trading is similar to holding in short term. But day trading is not. Day trading will take more time and it is very stressful. The stress is not only the down side, it is also taking money as the traders are losing.
Your fact are not correct at all. You should share your proof that 90 to 100% of traders are losing on the crypto market, and I will tell you that 90% of crypto traders are gaining or making profit every day.
I am a trader, gone past basic levels, approaching advanced level, I can boost of making profits on the weekly basis with a very minimal losses that is, if I decide to close my positions probably because of fear of a likely heavy dumps.
Note that if you dont have experience or you have not acquire some lessons on the act of trading, you have no business trading crypto.Trading is profitable only for those who had leant and obtained seasons experiences over times.
-
Crypto Trading May Cause Lower Quality Of Life And Higher StressSeriously tho this happen to me a year ago when I'm still active on futures market and stress cant sleep and lot of thing happen including mood swing aswell. Tho now I'm prefer doing spot trade that don't have leverage so its kinda safe for me. .
That is the point, it is not just crypto trading, any similar activity will also cause stress for those who partake in it, i gave an earlier example using sports betting, people who gamble are also going to experience high stress levels, even forex traders too. If you are trying to make money in any of these ways, you are surely going to feel the stress.
-
Yeah, makes us wonder why they single out crypto trading as the main source of stress, LOL. But it doesn't matter, I mean, we really know the numbers. Perhaps there could be some crypto traders that are stress because they are losing money.
Nevertheless, everything is life is stressful, stock trading, even those billionaire right now, at some point where they are acquiring their wealth, has undergone the stress. The thing is that it's how we handle this stress in order to be a successful crypto trader.
Financial markets consistently produce more losers than winners, a fundamental aspect of their functioning. This underscores the inherent risk and stress associated with financial investments. Crypto, forex, commodities, and equities have all given rise to countless stressed and irrational traders.
To mitigate stress, traders must possess a solid understanding of the market and a clear vision. Detailed trading plans and well-founded confidence can alleviate stress. A stop-loss order provides peace of mind, limiting potential losses to 1-2 % of the account in the worst-case scenario.
-
I think many of the impact also applies to trading in general. But i certainly disagree that cryptocurrency trading share trait with gambling, unless the trader choose new or meme coins. Your opinion is greatly appreciated.
This assessment published in the journals of mental health policy and economics have done a great research and even without further scrutinizing their findings, I totally agree with the results of their claim. Trading involves a lot of mental health as the stress and the many emotions in them can cause sleepless nights and anxiety always. This is to say how trading has to do a lot with the psychology of one and somethings that needs to be considered when engaging in trading.
Non-traders will have sound sleep much more better than those that are trading. When you’ve made up your mind to become a trader, the first thing that comes to mind is on how to become profitable, from there the thoughts of losing and winning will always be ringing in your mind and troubles you. When a trade is placed, it becomes a necessity for whole of your mind to begin trouble you towards thinking on what the outcome of the trade will be, whether positively or negatively, it’ll definitely affect the way you think about it.
-
I think many of the impact also applies to trading in general. But i certainly disagree that cryptocurrency trading share trait with gambling, unless the trader choose new or meme coins. Your opinion is greatly appreciated.
I doubt they mentioned anywhere that it shares a trait with gambling, while gambling is a total loss mentally and financially. Trading is stressful work, everything in this world nowadays is stressful if you are making less money, and if you have some rules to follow (like a religious dude follows), then making money becomes a little hard because this world is full of ways to break those rules.
In short, if we are working and trading, or running our own business, we are under constant pressure, and stress and we think a lot about our business and how can we increase our sales, etc. I think stress is everywhere so we don't have to compare ourselves with nontrading peers. Because nontrading peers are either free or have a source of income they don't care so much (I wonder if there is any). Every work needs attention and without it, we can't really make money in the long run.
-
I agree that any job that you can make money from is stress, and there is a lossp potential at trading but if you are a business owner then you can lose and even bankrupt your whole company and lose it all as well, you think that is not stress? That is why I never went against any of my bosses that I worked with, either I quit or I keep working, because I never judge the bosso n how much they make and how little they pay us, if the boss goes bankrupt, I can find another job, but they will end up with a lot of loss, much more than me. The reality is that trading is similar, you either make a profit, or a loss, and that is not stress, feeding three kids and a wife with a single salary? That is stress, having a disabled kid that you need to take care of until you die? That is stress. Trading whenever you want? That is a hobby, if you dislike it so much, stop.
-
Gambling and trading have inherent risk associated with them, but compared to gambling, you are encouraged to have fun and gamble within your means, something you cannot say with trading, on trading, your motivation is profit and since it is, you will lose sleep and experience depression if profit is not realized.
Trading is a health risk too if you do not handle your mindset properly.
-
Gambling and trading have inherent risk associated with them, but compared to gambling, you are encouraged to have fun and gamble within your means, something you cannot say with trading, on trading, your motivation is profit and since it is, you will lose sleep and experience depression if profit is not realized.
Trading is a health risk too if you do not handle your mindset properly.
I don't see how they are different really, nobody gambles to lose but to win and if you talk about 'fun', traders will also tell you that they are having fun trading too. Trading is very similar to gambling in my own opinion, you are trying to speculate or predict something, so it can be very stressful.
-
I don't see how they are different really, nobody gambles to lose but to win and if you talk about 'fun', traders will also tell you that they are having fun trading too. Trading is very similar to gambling in my own opinion, you are trying to speculate or predict something, so it can be very stressful.
I think that definition of trading is too broad. If trying to predict something is trading/gambling, then weather prediction is also gambling too. I don't think that's a good definition IMO.
I think there are enough differences between trading and gambling, such as different success ratios, how you can minimize risk with the tools available on your exchange (stop-loss, trailing loss), the fact that you can change your loss to profit if you can time your timing right, etc. Although it seems like there's been a trend of "trading addiction" recently, even though I never know anyone who has this problem. Anyway, both of them cause us stress, so we have to manage that properly.
-
The stress of traders is different from the stress associated with the risk in trading.
What is the difference? Traders are mostly stressed out because they are trying to make money from trading, they know it is risky and they can also lose a lot of money, that is enough to increase a person's stress level. They worry about profit, managing losses, signals, etc, all of that is cumulative of the 'risks' involved in trading, if it was not risky, they'll feel no stress.
The difference is that I believe there are two types of stress associated with trading.
- The normal stress which is associated with emotions. Knowing that you could lose money and you could also make profit is a kind of stress because you keep watching your portfolio and not having peace of mind.
- Another kind of stress is the one a trader experiences when they don't have convenient time for trading. I mean they trade 20 of 24 hrs without having a good sleep or rest.
-
Knowing that you could lose money and you could also make profit is a kind of stress because you keep watching your portfolio and not having peace of mind.
People who gamble are also faced with this, they know they could lose money and they also believe they can make profit, this can cause them stress and affect their peace of mind.
Another kind of stress is the one a trader experiences when they don't have convenient time for trading. I mean they trade 20 of 24 hrs without having a good sleep or rest.
There are people who are addicted to gambling too, they gamble with everything they have and they even take loans to gamble, they even spend most of their day in gambling websites.
-
Even an ordinary job where the worker is exposed to pressure, various types of mobbing and the feeling that someone is exploiting him can lead to all the already mentioned problems. I personally think that this is a much bigger problem than the fact that some people trade in cryptocurrencies, especially if we know that the percentage of those who actively trade in cryptocurrencies is very small compared to those who trade in stocks or ETFs, not to mention those who gamble.
However, there are solutions for academics - let them stop trading with cryptocurrencies and they will no longer be under stress :)
I agree with you, work done on our daily lives expose most people to all those mentioned above depending on the kind of work. It is obvious that every work done by a workman is attached with stress but the stress varies depending on the kind of work.
Pointing at trading as one that carries stress, I guess there are some daily work that's much more stressful compared to trading, trading even seems more simple to me because you can likely enter and close your trade anytime you want.
But in all thanks for the Health Information, we all know Health is Wealth.
-
at the beginning I knew crypto I felt stressed because I didn't understand how to play in crypto, sometimes the selling price I gave was too cheap and not even according to expectations,
the more I don't care where when I sell my coins I won't see the coins and even get amnesia if I have the coins
for trading problems the same as gambling I think it's not the same where we don't guess the price but we determine the price at which we will sell and buy
-
Well, most of over work job and jobs in corpo world will do the same, for trading it's when you usually lost, but i guess the more you trade, the more you lost especially in day trading.
I hardly agree that the more a day trader trade the more he losses. I know that crypto market is unpredictable and very volatile but there are expert day traders who are exceptional and do not fall into this category of losses as you mentioned.
Again, most people who trade continuously are those that stand a better chances to acquire more knowledge and experiences over times.
Infact, trading regularly give a trader the opportunity to always strategize his ideas and plans, it is a better ways to look at areas of his mistakes for reviews and do some corrections before moving further.