Paterson, who signed his first professional contract for Glasgow before enjoying two lengthy spells at Murrayfield, admits he used to relish the derby days.
However, with a number of players already stoking the fire ahead of Thursday his best advice is not to get too caught up in the pre-match hype.
"I absolutely loved playing in these games," Paterson told BBC Scotland. "The build-up was really important as well - you don't want the hype to overtake you.
"With the big crowds, you'll be trying like mad against your opposite number but keep the head and hopefully do the right thing for your side.
"You try not to get too caught up in personal battles. It's difficult but the players who can do that and make good decisions under pressure will come out on top."
Despite the Warriors' strong start to the RaboDirect PRO12 season, Edinburgh are the form team heading into the match.
The hosts backed up a European win at Gloucester by beating reigning RaboDirect PRO12 champions Leinster - but Paterson believes Glasgow have the potential to re-assert their dominance.
"There is huge ability in that Glasgow side," he added. "I think Glasgow have the ability to be the more complete side but they have not quite hit their straps."
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