Trading addiction help: where to actually get it
There is help for this, most of it is free, and very little of it is specific to trading — which is the part that puts people off. It should not. Gambling services handle this well because the underlying problem is the same one, and being the person in the room who lost it in a brokerage account rather than at a sportsbook is not the obstacle it feels like.
Here is what exists, what each one is actually for, and where to start.
Right now, free, no appointment
1-800-GAMBLER is free, confidential and staffed around the clock in the US. It is not only for people in crisis, and it is not only for the person with the problem — family members use it too. They can also tell you what exists in your specific state, which varies a lot and is hard to work out on your own.
Gamblers Anonymous is free and runs in person and online, most days, in most places. The usefulness of a room full of people who have made the same decisions is difficult to convey in advance and is the thing most people say afterwards that they underestimated. Gam-Anon is the equivalent for family members.
If you are having thoughts of harming yourself, 988 in the US connects you to the Suicide & Crisis Lifeline by call or text. Financial catastrophe combined with shame and secrecy is a genuinely higher-risk combination and it is worth taking seriously rather than waiting to see whether it passes.
Therapy that has evidence behind it
Cognitive-behavioural therapy aimed specifically at gambling reduces both the behaviour and its financial consequences (Cowlishaw et al., 2012). What makes it work is that it targets the particular beliefs this runs on — being due, being able to feel the turn, the next session squaring it — rather than general life stress. If you look for a therapist, the useful phrase is a problem gambling specialist. Many US states fund this at no cost through their problem gambling councils, which is worth asking about before paying privately.
A general therapist with no gambling experience can still help with what is underneath, but is less likely to have the specific tools for the behaviour itself.
When a psychiatrist is the right call
This is the step most people skip, and skipping it is the most common reason a sincere attempt to stop falls apart around week six. Gambling problems very often travel with something else — depression, anxiety, ADHD, bipolar spectrum conditions, alcohol or other substance use — and if that something else is untreated, it keeps regenerating the behaviour no matter how good the plan is.
A psychiatric evaluation is worth it if the pattern predates your trading and shows up in other parts of your life, if your sleep or mood have gone with it, if you are drinking or using more, if you have tried therapy or groups and it did not hold, or if there is any thought of self-harm. It is a structured conversation that establishes what is and is not there. Nothing is decided before it, and it does not commit you to anything.
The money, separately
If there is debt, treat it as its own problem with its own specialists — a non-profit credit counsellor, not a recovery trade. Trying to solve the debt with the behaviour that created it is the single most reliable route to the worst version of this. It is also worth putting practical distance between yourself and the account while you work on the rest: delete the app, close margin, and let someone else hold the login if you have one you trust.
If you have tried to stop and could not, if it is hidden, or if your mood and sleep have gone with it, an evaluation is the step that sorts out what is actually driving it — and what will actually work. Dr. Germanos sees traders in clinical practice by telehealth — details at doctheo.com/trading-psychiatrist.
Ninety seconds: check your state, set your limit, one thing to watch for in yourself today. Written by a psychiatrist who trades. No trade ideas, ever. Unsubscribe anytime.
Where can I get help for a trading addiction?
Start with 1-800-GAMBLER, which is free, confidential, available 24/7 in the US, and open to family members as well. Gamblers Anonymous is free and runs in person and online. Cognitive-behavioural therapy with a problem gambling specialist has the best evidence, and many US states fund it at no cost. If a condition such as depression, ADHD or substance use is underneath, a psychiatric evaluation is often what makes the rest hold.
Is there a Gamblers Anonymous for traders?
There is no separate fellowship for traders, and in practice one is not needed. The underlying pattern is the same and GA members include people whose losses came through markets. Attending as a trader is far less unusual than it feels beforehand.
Can therapy help with trading addiction?
Yes, particularly cognitive-behavioural therapy aimed at gambling, which has good evidence for reducing both the behaviour and the financial harm. It works by targeting the specific beliefs involved rather than general stress, so a therapist with gambling experience is worth seeking out.
Do I need a psychiatrist or a therapist for trading addiction?
Often both, in that order of priority when the picture is complicated. A therapist addresses the behaviour and the beliefs driving it. A psychiatrist evaluates whether a condition such as ADHD, a mood or anxiety disorder, or substance use is underneath and regenerating the behaviour, which is a common reason attempts to stop fail.
References: Cowlishaw S et al. (2012). Psychological therapies for pathological and problem gambling. Cochrane Database Syst Rev. · American Psychiatric Association (2013). DSM-5. · Grall-Bronnec M et al. (2017). Excessive trading, a gambling disorder in its own right? Addict Behav Rep.
Also on Psychiatrade: How to stop a day trading addiction · Am I addicted to trading? · My partner is day trading our savings · Losing money? Start here