Jack’s story

Jack tells his story here…

The Stock Market Can Be Addictive Too

I had a read of a few of the stories on the http://www.gamblinghelp.nsw.gov.au website and my case is a bit different to what I’ve seen. I’m sure there are people out there in the same situation as me. For the past 6 months I’ve been trading the stock market. I’m not sure if it’s considered gambling but it’s definitely become a problem when you end up losing huge amounts of money. It still involves risk and winning and losing so I’d say I’ve got a gambling problem too. I’ve always been a punter and always want to find ways to make easy money. Anything gambling related I have tried. Roulette, blackjack, pokies, poker and probably heaps more I can’t think of right now. None of these have ever worked out to make me money. I’ve already lost track of how much money I’ve lost. These losses have generally been small amounts, hundreds at most, but they do add up over time. But it’s only these past few months when I started trading the stock market that it’s starting to become an issue. Losing 10s of thousands of dollars in your mid 20s is a big hit to the bank when that money could be used for something useful like a deposit for a house. And losing 5,000 in the last two nights has brought me here now to share this story. I think I’ve come to the realisation that there’s no such thing as easy money. Even on the occasions where I actually made/won money it wasn’t easy. It would’ve come with a lot of stress, anxiety and probably anger. By quitting now I’ll actually be ahead for once as I’ll still have whatever money is left instead of eventually losing it all. Why risk it?

In my own words…

I see a few people with problems playing the stock market. People fall prey to similar traps as with pokies or horses – chasing loses, buying without proper research, not sticking to limits or a plan. Another important part of your story is realising that even when you win, it comes with a lot of stress.

Many people I see say at the start that losing money is the biggest consequence of gambling. But once they sort out their gambling, it’s the massive weight that has lifted which is the biggest change – they’re happier, they sleep better, they’re less stressed, more energetic and less angry.

Best wishes with quitting Jack – sounds like it’s the right move for you.

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