Finally a winning trade for me in the past 40 days!!

After the big loss in the LULU trade and SPY call trade on early June, I have not made a single winning trade until today. I was being impatient to missed some good trade for FMCN and AXTI from Wednesday last week . Today AXTI is closed at 8.68, 65cents above my entry in two days. FMCN is closed at 30.83, $4 dollars above my entry in five days. Finally, I booked a 4 percent winning trade from SCSS today. Feel a little bit excited and help me reflect my strength and weakness. Currently I think maybe the breakout/momentum trading works best for me. I should look for breakout tradings as long as the market condition is not too bad. I need to polish my skills for a particular setup (breakout setup) first. When in bear market, trade break down. When in bull market, trade break up.

I entered SCSS yesterday aftermarket around 7:00pm when I saw the ask price is only 17.45, which is so cheap ( lower than the closed price 17.53). And 17.86 looks key resistance to me and I feel SCSS is ready to break over this level, as there are so many buy volume in the past 7 days, and only 1 small sell volume. In the 15m chart, it looks nice coiling and high buying pressure before close. Hence I entered 200 SCSS at 17.45. The position is too small. I was thinking using scottrade account to buy it, but want to take advantage of the low commission in IB account. LOL, missed the big profit.

Today market gapped up and acted very strong after a small pullback after open. Even the market condition is not very favorable in the beginning, SCSS is doing like a charm. SCSS reached HOD 18.30 around 11:00AM. I was thinking to exit the trade at 18.40. But SCSS failed the breakout around 12:00pm. I closed my trade at 18.11 when I saw a bear flag forming at 12:40pm, which turned out to be a good exit point.

Overall, I am happy to make the first winning trade today.

Today I also make a trade to long REDF at 9.43. This is supposed to be a day trade. But REDF was up to 9.65 ten minutes after I entered the trade. I was too greedy to book the profit. My bad!!!! I made this winning trade to be a bad trade. I feel REDF is losing the momentum. But need to see how it perform yesterday.