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c4 transmission slip

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woza44:
hi there i have just bought my 68 mustang and i have a problem. it will drive fine for the first half an hour of then it just seems to slip and go nowhere! reverse is okay but the forward gears are really slow and the engine just revs! i have changed the transmissin fluid and filter and was okay for a bit then same thing. going to try the modulator today. but dont think that will help much. any ideas? 

Soaring:
I would first try to tighten the bands before I tore into it.  You can do that from the outside. 

woza44:
thanks for the reply. already canged out the modulator. but made no difference. but what i did find is that when it started slipping if i pulled back on the stick it helped and got me home, il try adjusting the bands tomorrow is that a garage job. sorry i am completely clueless with automatic transmissions ive only ever worked on manual.

Soaring:
 The adjusting points for the bands are external,one front,one back on opposites sides of the trans,tighten the front one to 10-12ft/lb and back off 1-1.5 turns,tighten the rear one to 10-12ft/lb and back off 2 turns. 
   

woza44:
thanks for you help. i tried tightening the band but it didnt really help. i got a quote for reconditioning $1600 but its quiet out of my price range. ive seen a recon unit on craigslist for 475 and was thinking about trying to pop it in myself. do you think its too big a job for one man?

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