Buying on round number breaks didnt work out today.
Bought CHINA @3.00 hoping the break would last. It never did. Stopped out @2.83
Lesson 1: Wait for volume to build up before going long. Fakeout did it for me.
Lesson 2: Stuck to my stop loss. Not disappointed about the trade. Plain bad luck. Stop loss was below yesterdays low.
Bought JAZZ @10.01 on break of $10, hoping for follow through movement. Couldnt keep above 10, after few tries. Fakeout. Stopped out @9.77.
Lesson 1: Good trade idea of waiting for break of 10. Unfortunately didnt hold. No disappointment. Stayed disciplined and got out.
Bought OPXA @4.20 and @4.07 = @4.14 average on alert services. Huge sell orders at @4.25 didnt let the stock go higher. Put stop loss at @3.94 (below low of the day). However wouldnt budge of the $4 mark and stayed weak all afternoon. Sold at loss @4.03
Lesson 1: Dont follow alert services blindly. Get out sooner if it doesnt act the way it is supposed to, to cut losses even faster. Small losses ok. Can be made up in one big trade.
All in all, pretty lousy day for me. 3 Trades, 3 Losers. On the positive note, stayed disciplined and got out with smaller losses. Done for the day !! Will start fresh tomorrow.