Education offers the most potent defense against the casino mentality. Start your trading career by reading solid tutorial materials on investing, trading, and the history of the financial markets.
Realistically, many new participants avoid the educational path because they are perfectly content chasing the illusion of easy money, looking for the markets to provide big paydays without working up a sweat.
Logistically, this works to the advantage of more serious minded participants, generating a large supply of fumbling weak hands that add to reward potential at key market turning points.
Trading can be exciting, stimulating, emotional, and engrossing - which can induce reward pathways in the brain. When a day trader takes a profit, or even gets excited about a potential profit, the brain releases “feel good” neurochemicals such as dopamine and serotonin. As such, you can become addicted, just like with casino gambling or using illicit drugs. How dangerous can a trading addiction be? Like any severe addiction, trading addiction can cost you your job, personal relationships, and, of course, your financial resources.
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