It’s been a while since I posted a Tesla trade, so let’s rectify that situation right away.
This was short, sharp, and to the point. The trade lasted about six minutes, so that works out at more than $200 a minute (a meaningless but fun statistic).
My study of this particular stock continues, and continues to bear fruit. I could point out that Tesla has been playing around at the $200 price point for a while, but I don’t care about that. I only care about what it’s doing on any given day since the open. I care about short term (i.e. single morning) price patterns. And I care about how the price moves on a minute by minute basis.
My method for trading Tesla is scalping, really. Certainly there are trades to be had on longer timeframes, anything from hours to days, but that’s not my style. Any time we have money in the market, that money is at risk. Tesla is a particularly risky place to put cash because Elon could tweet something mad at any time and send the price goodness knows where. So these quick in and outs are my preferred way to go. In on the entry signal, and out at the first sign of weakening momentum. The great thing with this stock is that a quick in and out, around five minutes in a trade, can yield a four figure profit with alarming regularity.