With experience comes better execution, less mistakes, knowing when to hold and when to just take +1R and run for the hills. When to stop trading, when to press, when to add to position. Where to put your stop. This is a small story how experience helps.
Couple of years ago, I have traded options on stocks, ETFs and indices with one US trader, for a couple of months. He was much older than me, trading for 40 yrs!!! So he had plenty of experience. We traded and exchanged ideas, and made some winners and losers together. However, what I have noticed is that in vast majority of winners, he managed to stay longer, and to squeeze more juice. He made mistakes also, BUT was better than me in MILKING winners. And over time, that makes a big difference in overall profit. That is something that comes with experience, and takes more time to get it right. Much less time needed for finding a good entries. Finding a good exit - that is a special skill.
R., I will always remember you.
published on Twitter on Nov 22, 2018