*Creating quality experience starts with a Trading Plan. Start by specializing in one or two strategies. There are many different strategies in the market. Many of them are successful, but you must select the strategy that you feel most comfortable with. This strategy will suit your personality so it is easy to apply effectively.
*Keep a Trading diary. This is a record of every trade. The notes include the reasons for the trade. It includes the trade plan. It includes the trade development and also the reason for the exit. These are brief notes. They help you to find the common features of success and the common features of failure. It is a record of how your experience is developing
*At the end of each trading day print the chart of every trade. Make notes about the trade. This improves your learning experience because it teaches you to recognize price and market patterns. It reminds you of what happens when the patterns are successful , or when the patterns fail.
*At the end of every three months evaluate the information you have collected. This will help you recognize your strong and weak points. Are you more successful with momentum trades or trend trades? Is your entry point effective? Is the stop loss method effective? Do you wait too long to exit a losing trade? The answers will help you develop the quality experience necessary to become a better trader.
*If you find common and repeated mistakes, then you may need to make changes to your trading plan. First check to make sure all your trades follow your trading plan. If you have many trades which do not exactly follow your plan then go back to step one and develop the discipline to trade your exact trading plan.. If you consistently and exactly follow the correct trading plan then you will develop the quality experience necessary for successful trading.
PLAN YOUR TRADE AND TRADE YOUR PLAN
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