Experience

A trader attends a Pristine Seminar

A trader attends a Pristine Seminar. He receives a most complete and thorough explanation of our world renowned Pristine Method of Trading. So many tools and tactics! So much to learn! But when we teach them all this plethora of knowledge, we usually tell them as a cautionary note that their real education will begin after their seminar, as they attempt to apply this knowledge to the markets. And the thing that most traders need to understand is that such education never ends. Why is this so? Because, unlike other fields of knowledge and business, where a skill learned is applied in a relatively stable environment where results and outcomes can usually be predicted, in this field of trading the markets, each opportunity seems to be brand new.

Once a trader is able to learn the basics of a strategy, he has to apply it to diverse market environments, and has to learn which ones present the best odds for that tactic. This takes time. This is especially true of swing traders, as the diverse market conditions might not appear for several weeks or months. Think of someone who learned to trade in 1999, during the roaring bull market. When year 2000 came, the "experience" he had gained helped him very little, as all he knew was to buy things, even if using a correct tactic. Same can be said of someone who learned during the 2000-2001 bear market, and shorted his way to profitability in 2003, because all he knew was how to short a stock. Thus, having the necessary experience requires facing several and diverse market situations, learning how to adjust his tools and tactics to each in order to preserve capital, maintain a needed level of confidence and ultimately succeed.

When people ask us in a Pristine Free Workshop or in a TPM seminar how long it takes to become consistent, the answer is, as long as it takes to become familiar with many different market environments and the trading nuances to trade and invest in each. Some people see this amount of time as a waste of time. After all, trading is easy, right? Well, mechanically it's very simple, but learning to apply the "mechanics" to diverse market situations is a never-ending endeavor. It's never the same twice. Even someone with years of "experience" understands that each trade is "unique", and even though bull markets are similar, they're never the same. So take advantage of your "experiences", by printing charts and analyzing all the different scenarios. And keep an open mind to each event. Once you get more experience under your belt and so much becomes second nature to you, you will wonder why you ever traded without the proper tools in the past.

Avery Meizner

Contributing Editor

Interactive Trading Room Moderator

Gap and Intra-Day Trading Specialist

Instructor and Traders Coach

by: Avery Meizner

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