Thursday, March 12, 2009

BNI - profit at what cost?

I exited the trade today at a small profit. However, i managed the trade badly.

1) I was risking too much to comfortably let this position play itself out.
2) Managing the stock's movement vs the index got me really twisted. I need to relook at how i would handle adverse index movement. Did i panic out?

The stock closed a dollar higher than my exit. The main reason why i pulled out was because i feel that the SPX will encounter resistance really soon.

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