So my faith lays hold of Christ and teaches, judges and fights against evil and I am made righteous by this knowledge. Faith conceives the ideal of whatever is to be believed. When the devil comes against us to crush us, hope lays hold of faith becoming the captain urging us and assuring us through patience of the faith making us strong again. Hope encourages faith by being stirred up in afflictions. By faith we began, by hope we continue and by revelation we shall obtain the whole.
Experience here means to test, proof, and trial, approved or tried.
So experience is the tribulation that the Christian faces. Hope maketh not ashamed, because the love of God, that is, the love which God and works is us an unshakable adherence to Him, is shed abroad in our hearts by the Holy Ghost. It is in our innermost being. Wherefore we thus believing and justified through the Spirit by faith do wait for the hope of our righteousness. By faith we believe by hope we wait to obtain.