Wired for Risk: ADHD Traits and Financial Decision Making in Stock Trading

Wired for Risk: ADHD Traits and Financial Decision Making in Stock Trading | Research Square window.SnipcartSettings = { analytics: { enabled: false } }; (function() { var accessVector = localStorage.getItem('access_vector') || ''; window.dataLayer = window.dataLayer || []; if (accessVector) { window.dataLayer.push({ user: { profile: { profileInfo: { snid: accessVector } } } }); } })(); (function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({'gtm.start':new Date().getTime(),event:'gtm.js'});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!='dataLayer'?'&l='+l:'';j.async=true;j.src='https://www.googletagmanager.com/gtm.js?id='+i+dl;f.parentNode.insertBefore(j,f);})(window,document,'script','dataLayer','GTM-K279D39R'); Browse Preprints In Review Journals COVID-19 Preprints AJE Video Bytes Research Tools Research Promotion AJE Professional Editing AJE Rubriq About Preprint Platform In Review Editorial Policies Our Team Advisory Board Help Center Sign In Submit a Preprint Cite Share Download PDF Article Wired for Risk: ADHD Traits and Financial Decision Making in Stock Trading Max Witry, Marcel Schulze, Niclas Braun, Henrik Rohner, Johannes Weller, and 3 more This is a preprint; it has not been peer reviewed by a journal. https://doi.org/ 10.21203/rs.3.rs-7067306/v1 This work is licensed under a CC BY 4.0 License Status: Published Journal Publication published 31 Aug, 2025 Read the published version in Scientific Reports → Version 1 posted 11 You are reading this latest preprint version Abstract Attention-Deficit/Hyperactivity Disorder (ADHD) is a common neurodevelopmental condition characterised by inattention and impulsivity. While its effects on academic and occupational functioning are well established, less is known about how ADHD traits relate to financial behaviours, particularly in high-risk contexts such as online trading. This cross-sectional study examined associations between ADHD traits and financial decision-making in a sample of 945 active online traders. Participants were assessed using a validated self-report scale for ADHD traits and standardised measures of financial risk tolerance (FRT), trading activity, and portfolio performance. The median participant age was 34 years, with 74.5% identifying as male. Based on self-report, 5.7% of participants met DSM-5 symptom criteria suggestive of ADHD, though no clinical diagnosis was made. Participants with ADHD traits demonstrated significantly higher FRT and greater speculative risk-taking. ADHD traits correlated positively with FRT and negatively with portfolio returns. Regression analyses revealed that increased trading frequency, speculative risk-taking, and higher return expectations predicted greater ADHD trait expression, while higher actual portfolio returns and higher investment risk scores were associated with lower ADHD traits. Though causality cannot be inferred, traits like inattention and impulsivity may contribute to suboptimal decision-making in volatile financial settings. Clinicians should consider this in their assessments, promote awareness and support prevention of poor investment decisions. Further longitudinal studies are needed, alongside targeted financial guidance for individuals with elevated ADHD traits. Health sciences/Diseases Health sciences/Medical research Biological sciences/Psychology Social science/Psychology Health sciences/Risk factors Full Text Additional Declarations No competing interests reported. Supplementary Files WiredforRiskSM.docx Cite Share Download PDF Status: Published Journal Publication published 31 Aug, 2025 Read the published version in Scientific Reports → Version 1 posted Editorial decision: Revision requested 25 Jul, 2025 Reviews received at journal 24 Jul, 2025 Reviews received at journal 20 Jul, 2025 Reviewers agreed at journal 15 Jul, 2025 Reviewers agreed at journal 10 Jul, 2025 Reviewers agreed at journal 08 Jul, 2025 Reviewers invited by journal 08 Jul, 2025 Editor assigned by journal 08 Jul, 2025 Editor invited by journal 08 Jul, 2025 Submission checks completed at journal 08 Jul, 2025 First submitted to journal 07 Jul, 2025 You are reading this latest preprint version Research Square lets you share your work early, gain feedback from the community, and start making changes to your manuscript prior to peer review in a journal. As a division of Research Square Company, we’re committed to making research communication faster, fairer, and more useful. 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Also discoverable on Platform About Our Team In Review Editorial Policies Advisory Board Help Center Resources Author Services Accessibility API Access RSS feed Manage Cookie Preferences © Research Square 2026 | ISSN 2693-5015 (online) Privacy Policy Terms of Service Do Not Sell My Personal Information {"props":{"pageProps":{"initialData":{"identity":"rs-7067306","acceptedTermsAndConditions":true,"allowDirectSubmit":false,"archivedVersions":[],"articleType":"Article","associatedPublications":[],"authors":[{"id":482903132,"identity":"f0f83b52-f344-47b9-94b2-065c0f73a697","order_by":0,"name":"Max 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