Trade with the trend. Always. I've saved my ass many times by slapping myself silly whenever the urge comes about to fade a move. RTM systems lose in the long term. Since his "system" has'nt worked in past 2 years, since he prefers to trade with real money, the OP can look into the fabled JH system where traders are guranteed to take out 10x the intraday trend. He'll make up his loss in 2 months max. On another note, the guy should officially acknowledge he has blown up his account and take a break from trading. Looks to me he has had a 80% drawdown from his account peak.
You might be surprised how much (useful) help you can get from winning traders, if you truly LOVE trading and have a humble attitude. Money isn't the only reason they trade. I learned a great deal from Tharp's first book, which you can find for $10 on ebay.
Are you just waking up from a deep slumber? With 8000 posts to your credit, one would think you had more substance upstairs than a one-word outburst.
Weekly Update for week 27/50 ended 7/20/2012 Tough week, down $620 (0.5%). Code: Opening Balance: 124,509 Net loss for the week (620) ------------------------------------------------ Net Balance: 123,889 Since Inception of Thread 01/18/2012 - 07/20/2012 Opening Balance: 203,729 Net loss (47,840)(Down 23%) Cash Withdrawal (32,000) ------------------------------------------------ Net Balance 123,889
You need to be very careful with tharps premises, his r-multiples are astoundingly unrealistic in magnitude (specifically his position sizing game).