[StupidBoy]

I have come to this website as Im struggling with my addiction to online trading. , I own a business that has been very successful these past few years , however I knew the good times would”t last forever and some of my wealthiest clients are online traders so I thought I could do online trading and make £millions like they have. I have lost all my money on online trading in just a matter of months, (well over £100,000) , the addiction got so bad that I would not sleep at night, instead I would be studying chart patterns on any trades I had, my body is in a constant state of anxiety with sweats and chills….I was caught in a cycle of losing big and winning small amounts and chasing the price. on one day I lost over £20,000. I now have a credit debt of £18,000 and can’t sleep at night as I will have collective tax bills of over £100,000 over the coming 18 months and I have no money to pay these bills apart from the equity in my house, so now I fear losing my house. I have a lovely girlfriend and we have a baby , our relationship was perfect but now Ive lost her trust at compromising our future. These past few months have been a nightmare…I have managed to abstain from gambling the past 2 days….i have no money apart from money in my business which must be protected to pay my staff.. I still study the chart patterns as this is compulsive behaviour, yesterday I saw an opportunity but didn’t trade it, had i traded it I would have most of money back, my gambler voice is saying that I now have nothing to lose, Im screwed anyway. Before my gambling addiction I used to exercise and meditate regularly and live happily in the present moment, now all I do is worry and time travel and I am withdrawn from my loved ones.

[velvet]

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Hello SB and thanks for starting a thread in the Gambling Therapy forums

Here at Gambling Therapy we pride ourselves on being a caring and diverse online community who can help and support you with the difficulties you’re currently facing. We understand that this might be a tough time for you, particularly if you’re new to recovery, so come here as often as you need to and participate in the forums, access online groups and connect to the live advice helpline if you need one to one support. We’re in this together!

Here on the forum you can share your experiences in a safe, supportive and accepting environment. The beauty of writing it all down is that you can take your time and you will be creating a record of your progress that you can look back on if it ever feels like you’re not moving forward. So, share as much or as little as you like but do try to stick to keeping just one thread in this forum so people know where to find you if they want to be updated on your progress or share something with you.

And on that note….

I’m going to hand you over to our community because I’m sure they will have some words of wisdom for you 🙂

Take care

The Gambling Therapy Team

PS: Let me just remind you to take a look at our
privacy policy and terms and conditions so you know how it all works!

[Fritz]

I had the same online trading gambling problem and for a long time and I would not acknowledge it was gambling. I called it investing. What a big lie to myself that turned out to be. I feel for you in your situation. The solution is the same as any type of gambling really. Close all online trading accounts and give all control of finances to a loved one for a long period of time. It took me a few years and more massive losses before I learned this lesson. I was literally in a state of panic every single day for a few years. Some days better some worse, but my entire psychological health was determined by if a stock went up or down, and I was glued to the stock charts. What a miserable existence. Turning over my finances to my wife was the best decision I ever made. It was a huge load off my shoulders right away! Acknowledge the losses, forgive yourself and let go of control, apologize and hand the financial reins to your girlfriend. You won’t regret it.

I have not owned stocks for a couple of years now and feel so much better. Don’t give in to your gambler “nothing left to lose” mentality, you have a lot to lose still. You had a life of peace and yoga etc. and you can have that life again. Start today to commit to never looking at another stock chart. Get help and go to a meeting. You can turn this around if you start today and work one day at a time.

[theone12221]

Hey SB,

I think we’ve all been down the self-destructive road of “I’m screwed anyway” let’s just gamble it all out.

I know that this is basically a trip which is virtually unstoppable and inevitably will lead to rock bottom. The only thing I can recommend, like above mentioned, is to just either have no money or give full control of your finances to your partner. Self-exclusion will also help. Sorry to hear you’re going through this but try to hang in there…there will be light at the end of the tunnel despite how dark it may seem right now.

[s492m]

Hey there,
sorry to jump on this – i’m in a very similar situation.

About a month ago i decided to try spread betting – in 24 hours i was up £3K and loved the feeling and deluded myself into thinking i was a great investor.
Fast forward and I have lost my own savings of 15K plus borrowed another 10k and lost that too.
3 years ago i was in 50K debt that i brought down to almost zero this year and built up my savings and here i am and it took only a month. i kept on chasing the losses thinking that the markets will behave how i want them only to have things crashing down again.
and the worst part is that i know about recovery because i am in recovery for other addictions and its all the same.
here is to accepting that its gone (and despite saying that i’m thinking of borrowing more to try one more bet)…

[HP]

I was also in the same position as you, a director of a company who couldn’t stop trading – even during work hours. I also lost basically all I had, but I haven’t traded or gambled since before Christmas last year. I fell a million times better about myself. I used to wake up at 6am and just think about the markets opening at 8. 9/10 times when they opened I made a rash trade and lost BIG.

Close all of your accounts and now I invest through a financial advisor, so im investing into fund managers and not being stupid and thinking I can do it myself.

all the best.

H

[Author]

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