New User /First post but long time ford guy.

I just bought a 1997 f150 2wd with a 4.2 4R70w trans. I got a good deal because of trans problem. When purchased the truck would go in first and has reverse but no shifts. The guy told me the check engine light came on when trouble started so I figured it was electrical. When I got the truck home I discovered the white plug unpluged so I pluged it in and went for a ride, trans worked great. Stopped for gas and came out then no forward gears. Found 2 wires on harness rubbed thru and repaired, ran truck and worked good when cold but when warm no forward gears. Fluid and pan is clean. Any advice?
Thanks John

 

I hope your good deal included sufficient discount to pay for a rebuild.

 

Yeah,
I was tired of messing with it so I installed a used (60,000 mile trans) I have been driving it for a week.
John