97% of persistent day traders lose money. Trading apps use the same psychology as slot machines. Research proves day trading is gambling with a different name.
Peer-reviewed research confirms that 97% of persistent day traders lose money. Trading apps use the same variable reinforcement schedules as slot machines. Social media influencers sell the fantasy while the data reveals the destruction. This is not investing. This is gambling with a different name, and for most people it leads to the same spiritual and financial ruin.
By Kate Mosley, Gambling Recovery Coach.
Day Trading Is Gambling: The Pipe Dream the Enemy Uses to Destroy You