marym
Active member
Comfort zone refers to the state of calm and security that you feel when you are at ease without feeling any imminent danger. Your success in trading depends on your ability to find a balance between "organized chaos" and confidence in what you are doing. Many successful traders believe that you must step out of your comfort zone and feel some anxiety to truly become successful.
By definition, a comfort zone represents the set of behaviors that a person engages in without becoming anxious. Comfort zones are individual things; in fact, your personality can be described through your own comfort zone. Successful traders often step out of their comfort zones to take risks and achieve what they desire. Leaving your comfort zone often involves trying new and different behaviors or activities and then testing the new and different responses that occur within the trading environment.
Novice traders often realize the need to take risks but fear doing so because it may lead to a loss of the sense of security they derive from their job. As they approach the edges of that zone, they begin to feel discomfort and anxiety. But those edges are where new traders grow, and by extending those boundaries, they increase their chances of success.
Despite all the guidance from experienced traders, every new trader must find their own way in the world and put in their best effort. Mistakes are often made when someone is outside of their comfort zone.
Staying in your comfort zone by simply sticking to what is "tried and true" will cause you to miss out on many exciting trading opportunities. This is when you will be stuck in the "trading doldrums"; by avoiding risk, you dig a hole for yourself that is difficult to get out of.
Here are some suggestions for stepping out of your comfort zone:
By definition, a comfort zone represents the set of behaviors that a person engages in without becoming anxious. Comfort zones are individual things; in fact, your personality can be described through your own comfort zone. Successful traders often step out of their comfort zones to take risks and achieve what they desire. Leaving your comfort zone often involves trying new and different behaviors or activities and then testing the new and different responses that occur within the trading environment.
Novice traders often realize the need to take risks but fear doing so because it may lead to a loss of the sense of security they derive from their job. As they approach the edges of that zone, they begin to feel discomfort and anxiety. But those edges are where new traders grow, and by extending those boundaries, they increase their chances of success.
Despite all the guidance from experienced traders, every new trader must find their own way in the world and put in their best effort. Mistakes are often made when someone is outside of their comfort zone.
Staying in your comfort zone by simply sticking to what is "tried and true" will cause you to miss out on many exciting trading opportunities. This is when you will be stuck in the "trading doldrums"; by avoiding risk, you dig a hole for yourself that is difficult to get out of.
Here are some suggestions for stepping out of your comfort zone:
- Get market news from different sources.
- Use 15 minutes a day for positive affirmations.
- Ask for feedback from others and be open to criticism.
- Set small, achievable goals and reward yourself for achieving them.
- Take a trading course or attend a seminar to learn new techniques.
- Start small and gradually increase your risk-taking tolerance.
- Keep a journal to track your progress and learning experiences.
- Continuously challenge yourself to try new things and embrace uncertainty.
