[method]

Here are 2 more lessons:

- Don't carry overleveraged positions overnight
- Take profits as the market gives you them.

[steve46]

A couple of others have made similar comments....and so I will restrict mine to the bare minimum

First, I wonder if the gentleman really wants to be a winning trader....I am not getting that impression....it seems to me that the gentleman wants to trade...certainly, and likes the action, but is either a.) not knowledgeable as to what winning is about, or b) not willing to do what it takes (its just not that difficult)...Ultimately what is required is that the "losing trader" make a conscious decision to abandon everything that he as been doing, in order to find an approach that works.

I am thinking that my thread "an institutional look at the S&P futures" might hold the key...particularly the concepts of TBP (time-based pivots), supply/demand analysis and wholesale/retail value...the FESX, and the Eurostoxx for example are dominated by professionals who use similar approaches with excellent results...and I use them successfully trading the DAX, S&P futures, Bond, and Currencies (exchange traded not forex).

I certainly understand if you want to continue chasing your tail like a puppy, but if you decide to get serious, I would start by reviewing "An Institutional Look at the S&P Futures, and then perhaps consider looking at my comments about event trades...to see if it fits your personality.

Good Luck

[MadMarketScientist]

I think he is serious about being successful but this path to success is certainly not uncommon and I'd argue there is a lot more commitment here then I usually see. What it does outline is how hard it is to take the logical "pre-market" assumptions and do it under fire.

I feel like I have lots of experience and I still have those struggles at times. Today is an example where I broke my rule and traded beyond my normal allowable window. Do I know better? Sure. Have I tested enough to know that the odds go down after a certain time? Yes. Have I broken this before only to regret it? Yes. But, it's not easy to overcome the heat of the moment sometimes.

I think everyone's path is different - most never make it to the end but usually it's a long journey.

MMS

[steve46]

Yes I certainly understand your comment MMS

and perhaps 2 years losing is not that bad (from Method's opening post)....As I recall, what "motivated" me to make a real decision about trading was that I was getting close to the bottom of the gas tank (trading capital)...and didn't have many other options....I think its nice if a person has the luxury of taking their time to get it right....

Best of luck to everyone in the markets.