I have been using TradeStation for the past year and went to their Masterclasses in Plantation. I used Andrew's book to earn 45% in six weeks and then lost 75% in one month due to the market turning and revenge trading. Since that time I signed up lifetime for BBT and have learned the exact issues that I had. Now I have about twenty years of experience in the market studying Fundamentals, Modern Portfolio Theory, CFP and more, so adding AAs system was a no brainer.
However the psychology aspect which is what took me the longest only had one oversight. When I traded during the six weeks I was still working, so I had strict rules. Once I retired I broke all of them.
I sat in front of the console for too many hours.
My position discipline wavered.
I broke all of the rules and revenge traded.
I started to mix styles: Options plus Day Trading without a transition strategy.
I have since stopped trading and instituted strict controls around my day:
Clear hours just like before.
Solid exits and limitations.
I now know how to read when the market turns - I have been a business cycle swing trader before so this confused me.
Position and R:r risk reward ratios that match.
risk: Reward, r:R : 1:2
Daily max loss: 1% of Total Account
Daily risk per trade: 1%
Max Security Limits (I had one issue per day during the six week period. I upped it to two near the end. Once above that I started charts and darts!)
Simple ranges for quick math:
$100 issues: Size: 50, 100, 250
$50 issues: Size 100, 200, 500
$25 issues: Size 200, 400, 1000
All of these limitations promise to return my previous profitability with slow consistent gains.
Restrict the amount of time you trade.
Restrict the size of positions, the r:R. Max Daily Loss, Trade Loss
NEVER revenge trade.
NEVER trade when market direction is unclear.