I had issues with conceding too much, but as I played I noticed that the computer (AI) switches to 4-4-2 when it falls behind. It seems that 442 is the most consistent tactic in FM 2014.
I also learnt that certain things go together; for example, drop deep goes with high tempo and high defensive line goes with lower tempo. If you mix it up you won't get consistent results.
So I spent a week working on this 4-4-2 watching full computer vs computer full matches trying to learn the concept, and I think I have finally cracked the code. Using this knowledge I created this legendary 4-4-2 tactic you can do wonders with.
I tried it with Leeds. I won all the manager of the month awards apart from December. So I got bored and I added a manager and decided to help Racing survive relegation with this legendary 442. WE DEFEATED THE 2ND TEAM (of the league table)!!!!