The world of trading looks glamorous, with quick profits and massive gains, but with the many dangers of trading, there’s one hidden danger that often gets unnoticed — Trading addiction. And when this trading becomes an addiction, you need to fix it ASAP!

Somesh is here to discuss the psychology of trading addiction and when it’s time to walk away. He shares signs that you may have developed an unhealthy addiction to trading and some tips for healthy trading.

In this episode, Somesh discusses:

• What is addiction and its relationship with trading
• Signs that you may be addicted to trading
• Understanding the psychology of the stock market
• Common psychological traps that lead to losses: fear of missing out (FOMO), overconfidence after wins, confirmation bias looking at multiple timeframes
• How to fix your trading addiction
• Tips for developing healthy trading habits

Download the slides on trading addiction: https://tinyurl.com/trading-addiction 

Memorable Quotes:

“You lose money when you’re addicted, when you do not know what you’re doing.”

“Trading is easy. Making money is easy… The toughest part for me is to actually just survive when you’re not making enough money and still putting in all the time. That was the toughest part. But trading is easy when you survive this period.” 

Resources:

Somesh S (@kay_capitals) on Instagram

Kay Capitals on YouTube

Somesh (@KayCapitals) on X

Join The Day Trading Lords Discord 

Join The Daily Trading Newsletter 

If you enjoyed this episode of Trading Lords Podcast, then make sure to Rate, Review and Subscribe to our podcast. Your support keeps us going strong!

Hosted on Acast. See acast.com/privacy for more information.