IB sent me an ultimatum to stop my automated systems because of excessive messaging. The worst part was that I had always respected the exchange benchmarks and wrongly assumed that IB wouldn't mess with me as long as I respected it. I watch these products everyday and see programs doing even more cancel/replace with an other FCM than what I was doing and they are not MMs as there are no MMs on these markets. Lesson learned. These systems represented 1/4 to 1/3 of my income. I made a good year though.
Oh yes, I remember your post from a couple months ago. So yes, your lesson is summed up: Make money while you can, things can change. EF
I agree. I found that I am a disretionary trader. I tried to apply a structured system but found that just observing price action and trying to be on the same wave as the market, is much more profitable for me.
Another lesson for me this year: treat each trade absolutely separately from your previous trades and don't let losses or wins affect your next trade.