The 'should i have done something' feeling

I took another loss today with my UPS trade. All things considered it was a good trade, one that helped evolve my style a little.

Firstly, the setup and entry remain roughly the same; Entered on a down day towards the end of the session when it bumped off the 38.2%, had a bad candle, and oversold RSI. The same went for the SPX. A day later i continued to sell off, which created another opportunity: Pyramiding.

This is when i thought about what Soros said; When you're right, you've gotta be right big. (or was it Richard Dennis?) Anyways, the next closing session showed me an opportunity. I moved the stop and added a put position.

The third session was when it went ugly, this morning. The incident was when Geitner introduced his package to buyback the toxic assets.

I'm still relatively calm, nevertheless i do feel a slight pang of loss. Net for this trade, i was down 1.3, slightly over my regular risk position. My string of losses has grown to about 4 trades in a row.

While i'm still proud of this trade, I'm wondering if i should have managed it better? With a big ass move like this, the futures were already showing serious indication of moving against my position. Perhaps i should impliment some new rules;

- In case a startling event occurs against my direction, watch the first 30 minutes and move stops to the high of that timeframe.
- Continue to trade with pyramiding style, but be cautious about how i manage my exposure.