Here are a couple of valuable things i've learnt from Mr. Market, which might save some newbies a few years of aggravation: 1. Whenever you are faced with a long losing streak (ie. n > 10) or a massive drawdown, you don't need some time off. Sure, take one-two days off, go on a long walk if it may help you to clear your mind. It is important that you get back to the market ASAP. As someone else had already mentioned on these forums, "feel good/feel bad" crap has no place in becoming profitable. You don't want to run away from the problem, but confront it. You want to analyze where you went wrong, which leads to point #2. 2. Less is more. #1 has occured, you are treading in deep and unfamiliar water. In other words, you are in deep $h1t. You need to get back to the shore/shallower waters to get a survey of of where you are at before you proceed to head out again. What I'm saying is that you need to get rid of your "indicators" and what not, start with the basics again. Start with a simple candlestick chart, or strip down your "system". Spend as much time as you need with your barebones system. Only then, will you rebuild the system -- add the "indicators" and "accessories" back, slowly, one at a time -- now this is the important part -- but only the ones that will improve your trade, or help you gain a better understanding of market behavior, not make it more confusing. You want to find out which part which part wrecked your system, and this is how you do it. 3. Wait for confirmation. Putting down all your money at once in any given trade is almost arrogant. In every trade setup, there is a price level at which the manipulators will fully commit to marking that stock up/down. Find out what that price level is and wait for it. Everything before that is the "maybe" stage -- "maybe we will pool our resources into manipulating this stock/w/e market instrument". will add more as they are discovered.