Crypto Trading May Cause Lower Quality Of Life And Higher Stress

[ABCbits]

Crypto Trading May Cause Lower Quality Of Life And Higher Stress

A new study 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.


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.

[examplens]

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.

[Zed0X]

^ Exactly the image that I had in mind while reading the OP

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.

[Lucius]

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

[Charles-Tim]

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.

[MrSpasybo]

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 ^^

[Captain Corporate]

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.

[Z-tight]

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.

[KingsDen]

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.

[bitterguy28]

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

[PX-Z]

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.

[Jating]

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.

[TomPluz]

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.

[PrivateKayla]

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.

[luckyledger]

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.