Turn on Your Experience Indicator

[eudamonia]

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

[Jalarupa]

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

[xtremeforex]

Agreed

[Relativity]

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