Gleno34,
I hope you do not mind me butting in but your post forced me to write few lines.
Problem is not in systems; there are some knots in you, any system which make money 51 % time is a great system. Most system does not.
I started with 5000 and went up to 1 Million in three years and in those 3 year there was not a single month I lost money, and then I lost 97%, For 8 years I made enough to just survive , Then I read about Ed Sykota and his site which help me to transform me a better trader. I respect my inflicting point more I take my losses and move on I do not make them drama (Term Ed use often). You are a great trader, I really think so. You just need to respect your inflicting points which are losses, and my feeling is that you are trading way above your equity. If I trade option my max exposure on them is 5% and that is of my total equity and I do not want them to run against me so If I lose 1 % I either sell them or sell a reverse spread. If I am long QQQQ and I am long @ 40.35 then I always try to have puts @ 38, which in normal market are cheap but then I do not have to worry about stop loss. Your total exposure to all QQQQ calls should not be more then 5%. I hope you know 95% call buyers loose money.
Taking loss is part of the game and money management will take you there sooner then you think, and if you are trading on system or signal ask first where my stop loss is and if you can not afford then do not take that signal. Jimmy Rodger says patience is trader’s biggest asset.
Please forgive me if any thing hurts you in any way, I just wrote because people have helped me in reaching my goals.
I wish you best of luck.
Farooq
