Excessive trading, a gambling disorder in its own right? A case study on a French disordered gamblers cohort. (January 2017)

• Record Type: Journal Article
• Authors: Grall-Bronnec, Marie; Sauvaget, Anne; Boutin, Claude; Bulteau, Samuel; Jiménez-Murcia, Susana; Fernández-Aranda, Fernando; Challet-Bouju, Gaëlle; Caillon, Julie
• Is Part Of: Addictive behaviors. Volume 64(2017)
• Page Start: 340
• Page End: 348
• Publication Date: 2017-01
• Subjects: Excessive trading -- Trading addiction -- Stock market investment -- Gambling -- Structural characteristics; Substance abuse -- Periodicals; Alcoholism -- Periodicals; Drug addiction -- Periodicals; Nicotine addiction -- Periodicals; Smoking -- Periodicals; Gambling -- Psychological aspects -- Periodicals; Electronic journals; 362.29
• DOI: 10.1016/j.addbeh.2015.12.006
• Languages: English
• ISSNs: 0306-4603

Abstract

Abstract: Introduction: Trading and gambling appear to share some similarities. Indeed, traders can get professionally involved in high-risk types of trading as if it were gambling. This research explores whether excessive trading can be conceptualized as a subset of gambling disorders. Objective: To better acknowledge the existence of an addictive-like trading behavior and to discuss its phenomenological similarities with gambling disorders. Methods: The data of 8 excessive traders out of a cohort of 221 outpatients seeking treatment in our Problem Gambling unit were analyzed. Results: Our case series revealed important similarities with gambling disorders in terms of diagnosis, trajectory and comorbidities. Like many disordered gamblers, excessive traders of this study experienced a number of small early wins, chased their losses, and ended up losing control over the money they invested. All of them invested in very risky stocks associated with short-term trading leading to potential large gains, but also with very significant losses. The structure itself of the two activities (gambling and trading) is very close. Conclusion: Our results tended to support the idea of an addictive-like trading behavior as a subset of gambling disorders. Investing is not a form of gambling, but some people gamble with investments. Several observations and recommendations can be made: (i) conduct researches; (ii) build and validate specific assessment tools; (iii) develop strategies for prevention and treatment; and (iv) conduct more rigorous studies to clarify what we named an addictive-like trading behavior. Highlights: Excessive trading may be driven by an addictive process. 8 patients seeking treatment in our gambling disorder unit were excessive traders. Diagnostic criteria for gambling disorder are applicable to excessive trading. Our excessive traders were all male high sensation-seekers. Trading and gambling share structural characteristics.