why comfort zone trading will ruin traders?

This is a discussion on why comfort zone trading will ruin traders? within the Psychology, Risk & Money Management forums, part of the Methods category; Traders can only execute trades within their comfort zone , despite being given free profitable methods and systems.They will fail ...

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Old Aug 12, 2017, 9:37am   #1
Joined Apr 2017
why comfort zone trading will ruin traders?

Traders can only execute trades within their comfort zone , despite being given free profitable methods and systems.They will fail to follow a trading plan ,if any factors are out side their comfort zone .

Traders are often paralyzed in executing trades , if there is ,risk of loss of real money , fear of loss , anxiety about outcome of trade , fear of being incorrect about a trade entry or exit , the memory of previous losses , being wrong about a trade or feeling of imperfect trade entry , system trade is against the biases and beliefs of the context of the trade , losing trade instead of being in a winning trade for a temporary period and there are other conflicts between the mindset factors above and the actual trade data.

The systems /method must always fit within their comfort zone , every trader must design his own comfort zone system , within their risk tolerance levels acceptable to their subconscious mind.A person on a wage of 300 a week is unlikely to subconsciously accept a loss of 300 , because it is equivalent to their weekly living income , even though he could earn 2,000 per week from trading.

Each of the above factors that define a comfort zone are a subject in themselves.
There is also free google search with so much unbiased information on trader's comfort zones and discussion videos on comfort zones.Here are a few to start the education on your comfort zone.

https://2ndskiesforex.com/trading-st...ng-psychology/







https://www.brainyquote.com/quotes/k...fort_zone.html

Last edited by foroom lluzers; Aug 12, 2017 at 11:04am.
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Old Aug 12, 2017, 12:22pm   #2
Joined Feb 2002
Trading would be easy if losses involved anything else other than money.
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Old Aug 12, 2017, 12:58pm   #3
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Originally Posted by tomorton View Post
Trading would be easy if losses involved anything else other than money.
A successful trader mindset is required , that is ready and prepared to lose real money , for risk of loss in their subconscious , a probability based mindset , prepared for exit of the breakdown of trends and failure of market timing tactics.
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Old Aug 12, 2017, 1:10pm   #4
Joined Sep 2010
For some reason you remind me of this guy



Thought I'd join in the youtube video link spam
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Old Aug 13, 2017, 1:26pm   #5
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Originally Posted by brewski1984 View Post
For some reason you remind me of this guy



Thought I'd join in the youtube video link spam
You are the perfect example for psychoanalysis of a trader , trading in his comfort zone on occasions , on other occasions somebody who has no comfort zone .One can perform a psychoanalysis on the trading in this thread.

http://www.trade2win.com/boards/trad...age-abuse.html
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Old Aug 13, 2017, 1:43pm   #6
Joined Sep 2010
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Originally Posted by foroom lluzers View Post
You are the perfect example for psychoanalysis of a trader , trading in his comfort zone on occasions , on other occasions somebody who has no comfort zone .One can perform a psychoanalysis on the trading in this thread.

http://www.trade2win.com/boards/trad...age-abuse.html
Great thread wasn't it, and that last trade put me at an overall profit
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Old Aug 13, 2017, 1:48pm   #7
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Originally Posted by brewski1984 View Post
Great thread wasn't it, and that last trade put me at an overall profit
Good for psychoanalysis but dangerous for new traders to copy trades .

The Dax trade was ok but the stop loss was too tight to profit .Is this because you are too scared to lose money?If you had put a wider stop , you would have made about 200 ticks IMHO.

Do you do this because you are not willing/comfortable with losses of wider stops?
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Old Aug 13, 2017, 1:49pm   #8
Joined Apr 2016
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Originally Posted by brewski1984 View Post
Great thread wasn't it, and that last trade put me at an overall profit
If you are winning, it would make sense to continue. Real winners don't quit until they are rich.
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