Stock Market Gambling-As Harmful as Casino Gambling?

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Stock Market Gambling-As Harmful as Casino Gambling?

Post by Administrator » Thu Jun 16, 2016 12:29 pm

By its very definition, gambling: Placing something of value on an event of an uncertain outcome; Buying, selling and trading stocks is indeed a type of gambling. Simply put, if you buy stocks, you don’t know if the stock is going to go up or down so you are taking a chance on an event with an uncertain outcome.
There are multiple types of Stock Market activities such as long term investments, speculation, buying stocks on margin and day trading, just to name a few.
It is important to understand that stock market gambling can have the same negative consequences on individuals that gambling on card games, slot machines, lottery games or any other type of gambling can have.
Further, with stock market gambling the financial damage can be limitless. Life savings and retirement plans can be lost in a matter of moments.
Fortunately, if your stock market activity is becoming a problem, there is help available. The first step is to admit that it is out of control and then to reach out for help. The Florida Council on Compulsive Gambling (FCCG) has been assisting stock market gamblers that are experiencing problems since 1988. FCCG staff understands how hard it is to admit there is a problem and can supply a variety of resources to anyone in need.

Tips for Stock Market Investors to keep things from becoming a problem:
· Discuss a safe, long term investment plan with your broker.
· Have someone take control of your stock portfolio so the temptation to frantically buy and sell is out of your control.
· Be sure to include spouses or other loved ones in all decisions about the investments.

If you or someone you know is having a gambling problem, call 888-ADMIT-IT today for resources and referrals.

Signs that Stock Market activity is becoming a Problem
· Chasing losses on stocks in order to “win” it back
· Borrowing money to buy stocks
· Buying or selling stocks to feel “in action”
· Involvement in illegal activity in the Stock Market (i.e. insider information)
· Preoccupation/obsession with checking stocks online
· The need to buy more stocks to sustain the thrill
· Neglecting responsibilities with family, work or other

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