Tuesday, November 14, 2006

BreakWater Resources, Round 2

The first time I tried to trade BreakWater Resources, I was successful. However, this time, I tried playing the dead cat bounce in BreakWater Resources (BWR). That idea in itself was not a mistake. However, this was a screw up in two aspects:
1. I knew the short term trend was down, but even so, when it offered me the chance to get out early this morning, I did not take it.

2. I had a wider stop, but still did not reduce my position size. So, I deserve the stop loss that I wound up taking.

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