The process of addiction can be good or bad. It can be good if it aligns with your purpose, but in many cases it can be harmful. Addiction can come in many forms. We may associate addiction with drugs, fast food, television, sex, work, money, status, power, beauty, motivational literature, meetings, news and the media, and the people around us, with these addictions common for people all walks of life. In recent times, virtual reality addiction is becoming increasingly prevalent, including addiction to the internet, email, games, pornography and gambling.
The addiction to virtual reality is more becoming commonplace with the widespread use of technology and devices like smartphones that keep us connected at all times. A side effect of social media is an increase in egocentric behaviour.
The addiction to money is pervasive in today's society. It is related to the addiction to work because it becomes stronger if you are immersed in your work on a daily basis. It is common to want a higher (or even two times your) salary, even though the value added after tax is minimal. The addiction never ends, no matter how rich you are. There is never enough.
The addiction to work is becoming just as common. It creeps up over time. Each year that goes by, slight modifications become the new normal. The boundaries between work and life slip away until all you have left is work.
The addiction to gambling is endemic. Everywhere you turn, you see gambling stores and advertising. It manifests itself in sports betting, casino, and day trading. The odds are heavily stacked against you. For trading, the broker charges commissions, spreads, daily interest charges, and dividend charges. The end result is that 85% of traders lose (or break even) over a three year or greater period [1] [2] [3]. In addition, there is the lost opportunity cost, which in many ways outweighs the financial losses.
As an example, my mum always warned me against playing with shares and how it was like gambling. I never listened. It became gambling for me. I fell into the trap of gambling. I had a gambling problem when I was younger when I played games and I said I would stop but I did not stop. I wasted thousands of hours trading the markets for a total loss of $45k over seven years until I quit in July 2016. The broker charges actually exceeded my total loss, which meant that I would have made a small profit if there were no broker charges. I will use my time for what makes me happy instead.
Addiction becomes worship. It is something you gradually slip into day after day, without being aware of it. If you worship money, you will never have enough. If you worship beauty, you will always feel ugly. If you worship power, you feel weak and afraid. If you worship intellect, you feel stupid and on the verge of being found out.
People who are addicted allow their additions to define who they are. They are defined by the money they have, the job they are in, their physical appearance, or whatever form their addition takes.
These addictions can act as a distraction to who you really are and what you really want to do. Similar to procrastination, time just passes you by and if you do eventually wake up, you are faced with the reality of your life situation. You realise it when you still have the same problems but have done nothing about them or if you see that your life has passed by in a blur but not in a way you truly wanted it to go. In effect, you may have wasted your life. In situations like these, the addiction can be detrimental. To counter this addiction, it is appropriate to set boundaries so you can focus on really matters.
The addiction to virtual reality is more becoming commonplace with the widespread use of technology and devices like smartphones that keep us connected at all times. A side effect of social media is an increase in egocentric behaviour.
The addiction to money is pervasive in today's society. It is related to the addiction to work because it becomes stronger if you are immersed in your work on a daily basis. It is common to want a higher (or even two times your) salary, even though the value added after tax is minimal. The addiction never ends, no matter how rich you are. There is never enough.
The addiction to work is becoming just as common. It creeps up over time. Each year that goes by, slight modifications become the new normal. The boundaries between work and life slip away until all you have left is work.
The addiction to gambling is endemic. Everywhere you turn, you see gambling stores and advertising. It manifests itself in sports betting, casino, and day trading. The odds are heavily stacked against you. For trading, the broker charges commissions, spreads, daily interest charges, and dividend charges. The end result is that 85% of traders lose (or break even) over a three year or greater period [1] [2] [3]. In addition, there is the lost opportunity cost, which in many ways outweighs the financial losses.
As an example, my mum always warned me against playing with shares and how it was like gambling. I never listened. It became gambling for me. I fell into the trap of gambling. I had a gambling problem when I was younger when I played games and I said I would stop but I did not stop. I wasted thousands of hours trading the markets for a total loss of $45k over seven years until I quit in July 2016. The broker charges actually exceeded my total loss, which meant that I would have made a small profit if there were no broker charges. I will use my time for what makes me happy instead.
Addiction becomes worship. It is something you gradually slip into day after day, without being aware of it. If you worship money, you will never have enough. If you worship beauty, you will always feel ugly. If you worship power, you feel weak and afraid. If you worship intellect, you feel stupid and on the verge of being found out.
People who are addicted allow their additions to define who they are. They are defined by the money they have, the job they are in, their physical appearance, or whatever form their addition takes.
These addictions can act as a distraction to who you really are and what you really want to do. Similar to procrastination, time just passes you by and if you do eventually wake up, you are faced with the reality of your life situation. You realise it when you still have the same problems but have done nothing about them or if you see that your life has passed by in a blur but not in a way you truly wanted it to go. In effect, you may have wasted your life. In situations like these, the addiction can be detrimental. To counter this addiction, it is appropriate to set boundaries so you can focus on really matters.
My trading addiction killed me in 2019-21.
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