It just occurred to me after reading yet another thread ... http://www.elitetrader.com/vb/showthread.php?threadid=177986 ... on catastrophe days, it SHOULD be VERY simple to NEVER again have a nasty day... Nasty days occur for 2 primary reasons.. (stock gaps another matter) Taking HUGE losses or taking lots of small ones. I assume appropriate position sizing. Make a sheet that looks like this one.. This is mine that has helped A LOT last 2 weeks. It's purpose: 1. Limits number of trades... Eliminates overtrading. Once you have filled in your sheet, day over! If you end up leaving great trades behind that day you may learn to be more methodical and trade knowing your trade quota the next day. 2. Requires use of a system, whatever yours may be for entry and loss control. No target selling, it's a myth. 3. Requires a stop. A hard one. I don't care all the crap about discretionary stops. A discretionary stop WILL get you sooner or later. PERIOD. I don't care who you are.. EVERY single meltdown would have been avoided by a hard stop. The Trade result goal is there mainly to help in accepting the loss as having already happened. You have "given" the table money to be allowed to sit and play. If you get it back (break-even, job 1 for a trade), good. There!.... The markets will NEVER get you (unless you are taking home stocks) again. Most traders will be VERY reluctant to diligently fill it out as they trade.