Over the last 5-6 months, I lost more than 10k trading 1 ES contract, I was consistent - lost money every month. 10k equals 200 points, over 5 months, so each month I lost around 40 points. Meanwhile, I was making money trading FX and was using this money to burn while trading ES. I was obviously doing something correct with FX and something very wrong with ES. I had a hard time to understand what I had been doing wrong with ES. Finally, I have some insights about how I managed to lose so much money trading ES. I hope reading these insights will help some struggling traders. I will write this post over next few days, throwing one idea at a time. Experienced traders please feel free to critique. Following suggestions apply to struggling or new traders not veterans. Recommendation 1) Its best to not trade first 20 minutes of the day from 930 to 950 EST. Reason is market has still not find its general direction for the day and is very volatile during this period. ES typically changes direction multiple times in first 20 minutes which means higher number of whipsaws. Also, its a good idea to stop trading after 330 EST. Markets at this time can become very volatile and new/struggling traders will most likely lose money if they trade during this period.