I think allot of people screw up on test day because they create to much pressure on themselves. As future MBAs, our general mentality is very success oriented. We want to be the best and we expect allot from ourselves. If you're training for GMAT do yourself a favor and don't tell everyone in the world your about to take the test. In fact, don't tell anyone you are going to take the test. Why? Because it creates pressure to perform. Before my first go of the test, I told everyone and thier dog I was going to take it. Then I scored a 530, and it sucked. Because everyone was asking how I did. During the test I was concerned about what other people would think about my performance. GMAT is about you, and thats it.
I went into my first attempt with the mentality that I would attack the test. I was very aggressive. Remember, you can't muscle this test. You must finesse this test. Dont go in like a fighter about to enter the ring. You should be relaxed and resolute. You should be able to flow from section to section on the test. It should feel routine.
Be careful with caffeine. My first attempt I slammed redbull about 30 min before the test. Caffeine only takes 5 min to absorb into your bloodstream, and it reaches its peak in 30min to an hour. Then you crash. By the time I hit quant I was feeling the effects wearing off. My second test (740) I had a cup of coffee right before the test, and sipped redbull during the breaks. If you used caffeine to train for GMAT, you should use it when you take the test (its called state-condition learning). If not, don't bother, it will affect accuracy.
If you want to score above 700 you need to have a 90% batting average on the OG. I trained with the OG by taking questions 10 at a time, under 20 min. Make sure you keep track of your mistakes. Study your mistakes. Focus on your weaknessess and work with your strengths. Also make sure you know why your getting the answers right, make sure your approach is the most efficient way to solve the problem.
Make sure you take at least 6 practice tests. PP and Kaplan are the best tests. It is very very important that when you take the practice tests you do the AWA section, and that you treat it as if it was the real thing. The second time I took GMAT I not only took a practice test a day before, I took one TWO days before. By the time I took the real thing my brain was like "ok, this again, no problem". It became routine.
My highest practice test was 700 (PP2) a day before the test. I got a 740 on the test because I treated each question a bit differently than in practice sessions. Approach each question like nothing else in the world matters except getting that question right. Do not think about the past or future. Completely focus on the question you are on and nothing else. Meditation helps refine this skill. Do not let your mind wander at all. Every second counts.
The main difference in my two attempts was my mentality. The first time (530) I thought "this is it, do or die, lets kill this test". The second time i thought "I will do my best, and if I fail I will never give up". If you don't get a good score take it again. If you still don't get a good score take it again. Never give up, and I promise you will succeed.

Good luck

What an Inspiring Post!!! Defenitely ill do it this time!!!

Your experience means there is always hope

Congrats BigTime.Thats an awesome score.I'm pretty much in the same boar as far as my first performance was concerned.I got a 530 too.I'm planning to give the exam tomorrow.Frankly speaking I haven't been as dedicated as you have been.So getting a 740 seems unlikely.I just hope to improve upon my first performance.Lets see.

Your performance was truly inspiring.

Inspirational debriefing!!!!

Listening to you, giving up is not even an option for me.

many thanks