Or maybe, they're merely addicted, which makes them try more even if they know they don't have/will never have an advantage against the 10% of traders, which also makes it like they're playing in a casino with house edge. That, therefore, makes them more like gamblers than traders.
There are research-papers and studies about gamblers, and the psychology of gambling,
Dr Luke Clark, in the Department of Experimental Psychology, is interested in the different ways in which gamblers over-estimate their chances of winning, including the effects of near-misses and personal choice. These features of gambling games promote an ‘illusion of control’: the belief that the gambler can exert skill over an outcome that is actually defined by chance.
https://www.cam.ac.uk/research/news/the-psychology-of-gamblingIf they truly wanted to save and slowly make that grow, then they wouldn't risk and gamble their savings by "day-trading" shitcoins.
, especially if they keep trying and learning. And if they try trading while continuing to learn, they can get something useful to improve their analytical skills. At least, from learning that, they can get something.
I believe not. Because the addict only does the act of trading for that feeling of possibly "winning" something, not actually to do the right actions to actually win something.
But if it is gambling where we don't know when we win or lose, it can't be done because our losses cannot be recovered. Even though we try continuously, it doesn't guarantee how many times we can win and lose.
In trading, whether it is shitcoins or Bitcoin, they must have analytical skills. Shitcoins don't always cause us to lose money. If we can improve our analytical skills, we can find hidden gems that can provide benefits.
How many of the plebs that started "day-trading" during the start of the popularity of shitcoin trading, probably in 2014, have actually made it and have become millionares? It might be just ten out of one hundred people if you ask me, probably less.