Sunday, March 8, 2009

BNI loss

My BNI trade was stopped out at a loss. 1R, but my position was a half one, risking 50cents.

The good part is that i don't 'feel' so bad about the loss. Looking at the trade again, the risk/reward was worth the shot, plus i still believe the trade has merits.

In some ways, it's a slight breach of discipline in that i'm not trading the direction of the current trend, which is down. It was a long trade that's positioned very nicely in an existing trade channel.

I'll review the technicals for the indices and reconsider taking the trade again.

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