If you cut all the carbs out of your diet, you will feel terrible. I am cutting now for a trip in July. Eat a lot of chicken, turkey and fish. I stay away from red meat, and only eat it once a month and make sure it is very lean.
Eat your complex carbs (oatmeal, sweet potatos etc). Eat a lot of green veggies. Watch your carb/sugar/fat intake.
I also stay away from milk (I do like light soy milk 2g carbs, 2g sugar). Increase your physical activity.
I find it beneficial to eat a lot when trying cut. It all depends on what you eat though. Like everyone says, eat six meals a day (small, nutrious meals).
I am no expert, but this is what I am doing and I am getting results. I can shoot some recipes or what I eat in a day in a PM/e-mail if interested. Change your diet, exercise more and STOP WEIGHING YOURSELF EVERYDAY. You'll drive yourself nuts. Weigh in once a week. Again, this is just my opinion. You'll get there.