Plasma, actually it is very simple. Zoner, may I use your experience now with your longs as an example?
DO NOT TRADE ON YOUR HOPES, NEEDS OR OPTIMISMS. And more importantly, never trade revenge trades. Losing trades are that: losing trades. Your aim with your next trade is not to make up for your losses, your aim is to make a profit. Trade by your system and with your mechanisms. If you have a losing trade, and your trading regime dictates a counter-the-losing-trade-trend, by all means, trade it. If you have a off day, take a breather for a couple of days and sit-out and watch. It is a good thing to stay in touch with trends, but don't put money on the deck. --- If you ignore these points, you are gambling.. Finnish and klaar!
Yes, I had a sucky day yesterday, why? I was greedy (another reason NOT to trade). Made good points Wednesday, just to give 'em back yesterday. To my fellow novices (< 10 years ), trade a 100 points a day - it will be worth it, don't go for the big windfalls. Do the math: Say Mini contract (100 points = R1000 per day). 22 trading days (on average) = R22k per month. It is that simple! And of course, don't even go for the Mini contracts if you don't have proven success with Micro contracts.
I will say it again, if you don't adhere to the above (universal) principles (barring the 100 pointers - that works for me), you are gambling! it is not worth the stress and money!
Use it, don't use it. someone might take heart in this.
P.s. I made my +-100 points today, using both a long and short directional trade(s). Now to stick to this. There must be a very compelling trade-signal on my system, before I enter another one! This market is still in a transition phase and it is NOT following the US, so don't take hope from 'em. Come May, we should be following Intl (read US) trends again.