Turn on Your Experience Indicator

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eudamonia
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Turn on Your Experience Indicator

Postby eudamonia » Thu Nov 18, 2010 11:58 pm

I thought I would share my response to a recent PM since it may benefit some other beginning traders.

Essentially the new trader asked me if I trade the rat setup.

My response:

I trade based on the thousands of hours of experience that I possess. Nothing more nothing less.

Do I look at rat setups when the market conditions and my experience dictate? Certainly.

Learning setups is useful but is not the end all. Learning how to trade is your goal.

Sit down and trade. There are no shortcuts. Go log 100 or 500 hours of trading. Write down every observation. Learn from your observations. Rinse and repeat. Do this for at least 1000 hours and you will be well on your way to success.

Edward
Eudaimonia (pron.: you-die-moan-e-a) (Greek: εὐδαιμονία) is a classical Greek word commonly translated as 'happiness'. The less subjective "human flourishing" is often preferred as a translation.

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Jalarupa
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Postby Jalarupa » Fri Nov 19, 2010 12:17 am

I've recently started keeping a diary of my observations for each day... its done wonders for my method... :)

And yeah rinse and repeat is definitely something that I will do later... Just like rereading all the top threads on this site, brings new found realizations...

Thx for ya input ED, its always very welcomed
"our deepest fear is not that we are inadequate... our deepest fear is that we are powerful beyond measure... It is our light, not our darkness that most frightens us..."

I trade using <<FX SYNERGY>>

xtremeforex
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Postby xtremeforex » Fri Nov 19, 2010 8:01 am

Agreed

Relativity
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Postby Relativity » Fri Nov 19, 2010 3:35 pm

You are right. Screen time experience matters when one is very conscious about it.

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