SCTY Trade on May 10, 2013 12:49 from J2WS: Tradervue User Stock Trades.

• Extremely Lucky Trade but only made possible because I put myself in a position to make it.
• Adds were not well thought out and could have been better
• Over trading while in a position of strength

I definitely lucked out on this one. No way would I ever imagined it would go up 20%+ over the weekend. But I did have to do some work to put myself in a position to make the trade, so it wasn't all luck.

SCTY was setting up nicely on the Daily chart and in our current market environment you can make a killing on buying breakouts, so why fight it. SCTY had an hourly Bull Flag. My initial plan was to get in within the flag then add above 29.30+. But the stock gapped up 2+ points and I really had no clue how to add. I must work on this. There may have been opportunity above 32.00 or when it pulled back in the morning but I was not around to take it.

My add later on was mostly because I felt like I was in a power position so I was okay making non-optimal trades. I essentially bought the breakout of a descending triangle, which is a bearish pattern on my first add. Then I held 100 shs through earnings just because I was up so much already. Then I decided to add some more because I thought this was somewhat a support level the day before. I really should have looked at the bigger picture and notice there was a downtrend from the previous day's high. The real add would be when it broke that downtrend. Instead, I just over traded within the slop.

Sometimes there is only a one or two real trades in a move, why waste time on the noise, I need to learn how to focus on the bigger picture.