Lix, this is an interesting point of view. However I’m not sure I agree that these are the same things.
Yes, people waste money regularly on items with little long term value (eg new phones, overpriced coffee, subscriptions, the list goes on). But day trading is riskier.
It’s not just “spending” money – you’re trying to grow your capital through a system stacked that’s arguably against many retail participants. Losses can be large and take a heavy emotional toll, in some instances leading to impulsive behavior and further loss.
Ultimately, some new traders don’t understand these risks, making trading more akin to gambling than just spending.
