WARNING!!! Never try this type of trading on above picture. Anyways, I have a rule that if I get stop-out on the same stock 3 times in the same day, I just call it quits. This had happened to me 9 times this year of over 500 trades so far I've had since January 1, 2012. Here are the bullet points on all 3 trades for UEPS.
You should never fight the tape out of boredom, or you'll end up losing $600 on just one stock I wish never pop-up on my screen today. Usually my trades of the day are winning trades, but I had no winning trades today.
- 1st Loss: Long 1000 of UEPS @ 4.15 & stop-out at 3.88= $270
- 2nd Loss: Long 1000 of UEPS @ 3.50 & stop-out at 3.33= $170
- 3rd Loss: Long 1000 of UEPS @ 3.45 & stop-out at 3.29= $160
Three strikes and your out!!!!
If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9.