Many traders disregard or forget to assess themselves whether forex trading is generally good for them or not. Addiction is defined as continuous involvement on a substance/activity despite the negative consequences. Those people who love watching market from pips to pips are the ones who are at risk being a forex addict. I am not saying Forex Trading is bad especially if you are earning a living with it however everything that is too much is definitely not good. Forex Trading can be somehow be related with computer addiction because as we trade we used computers as a bridge from our brokers.
Signs and Symptoms of Forex Addiction:
-Spending increasing amounts of time and money
- Increasing amounts of time spent on Computer watching your charts
- Neglecting friends and family or Lack of Social interaction
- Feeling restless when not engaged in the activity
- Computer use interfering with job/school performance
- Changes in sleep patterns
- Physical changes such as weight gain or loss
Now Assess yourself are you experiencing 4 or more signs/symptoms? If yes then you might need some changes with regards to your trading habits. First thing you need is to accept and admit to yourself that you are a trading addict and needs to change how you are trading. For those people who loves being in front of computer I recommend that you put a time limit or time span on how long you would be trading in front of the computer or you could trade when London Session and US session is overlapping in this manner you would have good set-ups and still prevent yourself from being a forex addict.
For those who are suffering extreme addiction that you are already physically, socially, psychologically, spiritually and financially affected you might want to consult for a counseling to help you manage your problems. As a Trader we do have an exciting job/work however we still need to have a well balanced life as other people. It might be hard to stop what you have routinely done especially with the withdrawal syndrome that you might experience, I do admit that somehow I am an addict with trading that I cannot sleep or eat at the right time because I am afraid that when the moment I walk away from my computer the market would do big moves and left me disappointed. In Trading not Only good Money Management can make you winner but also a Nice Planned Time Management.
In achieving our goal in forex trading to live in Financial Freedom we shouldn’t risk too much of our time and other aspect of our life there is many other things that we could do with our precious time. Who would need Money if you are sick, If you are alone, if you never even enjoy what you earn. As a trader always remember that “Do not Live to Trade but only Trade for a Living”