I'm down \$1000 in 2 days from day trading ER2. Take a look at these graphs and it's obvious the reason is that I've over-traded.
ER2 graph February 7, 2008.
 ER2 graph Feb 8, 2008.
I have completely forgotten what I have learned in the past two weeks in Canada. I could blame it on the fact that I'm not used to trading at night and that I was very tired also because of jet lag. However, I shouldn't have traded at all if I knew that I wasn't in good condition.
Perhaps the thinking that caused me to trade so many times is that I didn't want to miss any opportunities. I move in too fast before the signals are mature. Thus, one thing I need to do is don't guess where the market is moving. Let the signals mature and the price to move a bit first before entering; I don't have to get in and out at exactly the top and bottom of a swing.
For the moment, I am imposing a 3 trades maximum rule to restrain myself until I'm producing better results and am more disciplined.
: http://bp0.blogger.com/_Vlx60iTPx5s/R6x6whzQQwI/AAAAAAAAANE/dTZzERBFMzo/s1600-h/er2_day07.jpg : http://bp2.blogger.com/_Vlx60iTPx5s/R6x64BzQQxI/AAAAAAAAANM/7KbUamf1RNk/s1600-h/er2_day08.jpg : http://bp1.blogger.com/_Vlx60iTPx5s/R6x8ixzQQyI/AAAAAAAAANU/n5E0rev72b0/s1600-h/er2_rpt.jpg