In 2013 the American Psychiatric Association classified problem gambling as an addictive disorder, drawing many similarities to individuals who have a substance use disorder. According to the World Health Organization, there are 350 million gamblers that display problematic behaviors relating to gambling every year. Although most individuals think of gambling in relation to casino gambling, lottery games, poker, or sports betting, there is a growing propensity for day trading and cryptocurrency trading to become problematic and develop into an addiction. Day trading addiction and cryptocurrency addiction are currently diagnosed and treated as a sub-type of gambling disorder, with small nuances in the process of treatment. Lin Sternlicht, LMHC, MA, EdM, and Aaron Sternlicht, LMHC, CASAC, of Family Addiction Specialist have pioneered a recovery program for day trading, cryptocurrency and gambling addictions. Family Addiction Specialist offers New York City’s most comprehensive, personal and discrete Day Trading and Gambling Recovery Coaching services to select local and international clientele.
No. There’s nothing wrong with investing in the stock market in the long- or short-term or trading a variety of other assets such as commodities, derivatives, foreign currencies, or cryptocurrencies such as Bitcoin, Ethereum, or other alternative coins. Trading stocks and cryptocurrencies can be highly rewarding personally, professionally and financially. However, engaging in trading for extended periods of time, using money that you can’t afford to lose, and neglecting personal responsibilities can negatively impact your career, relationships, mental health, and other life areas. Beyond financial loss, trading and other forms of gambling can result in severe depression, suicidal thoughts, and ultimately suicide. While some who experience problem trading or problem gambling may be able to moderate their behavior, others may need to abstain completely.
Day Trading and Gambling Recovery Coaching is for anyone who believes they experience problematic gambling tendencies in relation to:
Investing in financial markets, including but not limited to stock market day trading, swing trading, trading with leverage, commodities trading, binary options, spread betting, and derivatives trading
Cryptocurrency and other Forex trading
Lin and Aaron have years of experience as well as personal and professional knowledge working with a variety of individuals who experience maladaptive behaviors surrounding trading and gambling from Wall Street executives to stock market analysts to retail investors and poker players. Lin and Aaron serve high-net-worth and ultra-high-net-worth individuals and families in the New York City area and internationally who value the utmost personal, private, and discrete care.
Some common signs of problem gambling may include:
Taking an increased risk without much strategy.
Unsuccessful attempts at reducing your gambling.
Gambling compulsively or experiencing strong urges and cravings to gambling.
Having to lie or hide your gambling from your loved ones.
Having to steal, take loans, sell assets, or use money that should be spent on bills or necessities in order to gamble.
Losing interest in social and leisure activities that you once found pleasurable at the expense of engaging in gambling.
Continuing to gamble despite adverse consequences to your financial stability, relationships, physical and mental wellbeing, or other important life areas.
Family Addiction Specialist developed a specialized recovery approach for treating day trading addiction, cryptocurrency addiction, sports betting addiction and other forms of gambling addiction. Lin and Aaron believe that every person and circumstance is unique, and therefore their approach is highly customizable to meet each individual’s unique needs.
Your specialist will meet with you and/or your family who you would like to be part of your recovery process to conduct a comprehensive assessment in order to learn more about your presenting problems and concerns, and evaluate underlying issues including career, relationships, sense of self, sleep, hygiene, as well as mental and physical health among other important life areas. Substance addictions such as drugs or alcohol, or other behavioral addictions will also be assessed. This assessment will allow your specialist to better understand your needs and goals in order to curate a customized treatment plan for you.
A variety of services are included in Lin and Aaron’s approach to day trading and gambling recovery beyond in-person coaching, including supplemental treatments that encompass holistic, wellness and spiritual-based treatments. You will also meet with the team’s psychiatrist who specializes in addictive disorders in order to assess for underlying mental health concerns for which psychotropic medications may be beneficial, as well as medications that can help reduce impulsivity and curb urges to gamble.
During Day Trading and Gambling Recovery Coaching, you’ll find purpose in life and get practical help with issues such as:
Developing a sustainable recovery plan
Removing obstacles to your recovery
Tools for moderating or abstaining from gambling or trading
Learning stress reduction techniques
Coping skills for negative emotions
Tools to be less impulsive and reactive
Building self-esteem and confidence
Dealing with family and relationship issues
Setting healthy boundaries with friends, family and colleagues
Family Coaching is also encouraged in order to assist family members in better understanding their loved ones and how to best be able to support them through this challenging time while also caring for their own personal needs. Upon request, Lin & Aaron also work closely with personal assistants, attorneys, accountants, financial advisors, family offices, or other parties that may want to be involved in the recovery process.
Day Trading and Gambling Recovery Coaching is available in-person and through phone calls, Skype, Zoom and Facetime interactions. Your specialist will also provide you with text messages and/or email check-ins and communications.
Currently, therapy and coaching appointments are being held at the Family Addiction private and discrete office in the Upper East Side of Manhattan, New York City. Additionally, Family Addiction Specialist offers virtual appointments as well as home and office visits and can be retained to work with clients out of state or out of the country. Your specialist will arrive at your home, meet with your family, review lifestyle and family dynamics, and be better equipped to provide the necessary recommendations to improve your wellbeing and presenting problems.
If you’re ready for Day Trading and Gambling Recovery Coaching, call Family Addiction Specialist to set up an initial assessment and talk about your goals and recovery needs.